Mr. Mark Fields reports

GEODEX MINERALS LTD.: BENJAMIN COPPER PROJECT REPORTS PROMISING DRILL INTERCEPTS

Geodex Minerals Ltd. has received the results of its Benjamin copper project drill program in northern New Brunswick. The limited drill program was the first drill test of targets developed through induced polarization and magnetometer surveys complemented by earlier geophysical and geochemical work. Two drill holes successfully intersected:

• Copper mineralization over drill core intervals of up to 16.3 metres;
• Favourable intrusive host rocks with low-grade base-metal mineralization in an area where only volcanic rocks had been mapped previously;
• Extensive propylitic and local potassic alteration, characteristic of a mineralized porphyry system; pyrite was locally abundant with the propylitic alteration.

Geodex completed two angled drill holes for a total of 254 metres. The first drill hole, BN-14-01, was drilled from a magnetic low to a magnetic high and into a chargeability anomaly. It intersected variably propylitic altered mafic volcanic rocks with alteration over much of its 99-metre length. The second drill hole, BN-14-02, tested a magnetic anomaly 625 metres northeast of the first hole. Significantly, it intersected a mineralized and locally potassic altered felsic porphyry rock over the final 34 metres of its 155-metre length.

The assays included the results in the attached table. Note that there were also minor amounts of anomalous molybdenum, silver, zinc and tungsten.

Drill hole          From       To     Interval        Copper
                      (m)      (m)          (m)           (%)

BN-14-01           18.50     22.46        3.96         0.050
                   33.63     49.95       16.32         0.038
                   60.25     65.15        4.90         0.138
                   65.15     69.10        3.95         0.065
                   80.86     84.11        3.25         0.101
BN-14-02          100.83    102.26        1.43         0.082
                  118.00    121.00        3.00         0.081
                  128.80    135.80        7.00         0.020
                                                                            
Note: The true width of the intersections cannot
      yet be determined.

The Benjamin project is a porphyry copper (plus or minus molybdenum/silver/tungsten/tin) target located approximately 60 kilometres northwest of Bathurst, N.B. It is an area of extensive glacial till cover. The glacial till proved to be up to eight metres deep, significantly deeper than expected. This will impact Geodex's modelling of the likely source areas of the geochemical soil anomalies. Detailed maps of the Benjamin target area and anomalies will be available on the Geodex website. The drilling targeted areas selected by recently completed induced polarization and magnetometer surveys complemented by earlier geophysical and geochemical work. Drill core results will be used to correlate the magnetic and induced polarization geophysical anomalies with mineralization, alteration and the porphyry system for future drilling.

Mark Fields, president and chief executive officer of Geodex, said: "The first drill test of our targets at the Benjamin project is encouraging. The drilling intercepted geology which supports the belief that a significant mineralized porphyry system has occurred under the extensive glacial till cover. With a limited budget, we have been able to provide the basis for a larger drill program. We will pursue financing opportunities to undertake a second phase of drilling, targeting the porphyry system Geodex has discovered, and to explore for higher-grade mineralization."

David Martin, vice-president, New Brunswick operations, described the geological results of the drilling. Mr. Martin stated: "The drilling was very encouraging, with favourable alteration evident and associated copper mineralization intersected in both shallow holes. The propylitic alteration of the mafic volcanic rocks and associated mineralization intersected in the first hole was widespread. However, this hole only tested to a vertical depth of approximately 70 metres. The presence of the mineralized and altered felsic porphyry in the lower part of BN-14-02 further strengthens this target area."

South Dungarvon tin project drill results

Geodex also received assays for the South Dungarvon tin project drill program. Three holes and a total of 290 metres were completed in the western region of the property in December, 2013, testing an area of tin soil anomalies and tin-bearing trench rubble in an area reported as Late Devonian Dungarvon granite. A major northeast-trending structure is reported in this general area. Earlier drilling in 2013 intersected tin mineralization along this structure in the eastern region of the property (Geodex news release of Aug. 1, 2013). The best results were from drill hole SD-13-06, which assayed 0.08 per cent tin from 38 metres to 38.7 metres and 0.081 per cent tin from 89.76 metres to 90.5 metres.

Geodex is evaluating results to date to determine appropriate further work at South Dungarvon, including considering potential joint venture partners.

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

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