Mr. Mark Fields reports

GEODEX ANNOUNCES CLOSING OF $1 MILLION PRIVATE PLACEMENT WITH NORTHCLIFF EXPLORATION LTD.

Geodex Minerals Ltd. has completed the $1-million private placement financing at 30 cents per share announced Aug. 31 and Oct. 25, 2010. Geodex has issued 3,333,333 shares for gross proceeds of $1-million. Proceeds from the private placement will be used for general corporate purposes. No finder's fee was payable in connection with this private placement. The common shares issued pursuant to the private placement are subject to a hold period that expires on Feb. 27, 2011, in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. The private placement did not result in a change of control of Geodex. Geodex has received final TSX Venture Exchange approval for the private placement.