Geodex Minerals Ltd.

Geodex Minerals Ltd.

August 27, 2014 08:00 ET

Geodex Minerals Ltd.: Acquisition of Past-Producing Open-Pit Antimony Mine in Spain

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2014) - Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W), (the "Company" or "Geodex") is pleased to announce that it has registered the concession of the past-producing Mina Jacaranda Antimony deposit, located in southwest Spain within the Autonomous Community of Extremadura and province of Badajoz. This concession has an area of 750 hectares, being approximately 4.3 kilometres long and 1.4 to 1.9 kilometres wide. This action is part of a planned aggregation of producing and past-producing Antimony assets. Extremadura has the most extensive history of Antimony mining of any part of Spain.

The Acquired Area

The area acquired by Geodex has been under review by the Company for several months. It consists of the past-producing Mina Jacaranda located near Herrera del Duque in the Eastern region of Extremadura. Extremadura is located to the west - southwest of Madrid, bordering Portugal.

The Jacaranda mine is located about 4 miles northeast of Herrera del Duque, on the western slope of the Sierra de la Dehesa, in the vicinity of Arroyo de Cañada Mojada. Access to the workings is by a road that originates in the town of Herrera del Duque.

The past mining operation was carried out using open-pit techniques. The mine is currently inactive being last operated during the period of 1970 -1977. The stibnite was hand-cobbed. At that time the mine was operated, by Indumetal S.A., as a satellite pit to the San Antonio Antimony mine/mill complex some seventy miles to the west. This San Antonio Antimony complex was, until 1984, the largest producing Antimony mine in Europe.

There is a principal pit at Mina Jacaranda, located in the southern half of the concession, the dimensions of which are 80 metres long, 20 metres wide and depths from 5 to 28 metres. There are other minor pits further east.

The mining operation was performed by benching on the main face. The site is characterized as a reef-type deposit with gently dipping antimony bearing quartz - carbonate veins. The veins are reported to dip between 15° and 20° to the east and strike approximately North-South, cutting meta-sediments. The veins are reported to have a lenticular morphology, with local widening (pinch and swell) where mineralization is reported to be concentrated.

The image here shows the pit in 1977, the last year of mining operations:

Geodex plans an initial program of geological mapping and sampling of exposed bedrock at the pits within the concession.

Geodex's disclosure of a technical or scientific nature in this press release has been reviewed and approved by David Martin, P.Geo., Geodex's Vice President New Brunswick Operations, who acts as the qualified person under the definition of National Instrument 43-101.

About Geodex

Geodex is a mineral resource company focused on critical metal projects, particularly Antimony and Tin. Projecting from its traditional base in Canada's Maritime Provinces the company intends on pursuing opportunities in these metals both there and in Spain, around the Mediterranean Basin and in other traditional mining regions by aggregating past-producing and producing mines in these metals.



Christopher Ecclestone, President & CEO

Tel: (44) 795 08 53 621

Forward Looking Statement

Certain information regarding the Company contained in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, opinions, forecasts, projections or other statements that are not statements of fact. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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