Mr. Christopher Ecclestone reports

GXM SECOND PHASE WEST GORE RUBBLE SAMPLES ASSAY UP TO 27.1% ANTIMONY AND 72.5 G/T GOLD. UPDATE ON NEAR-TERM WORK PROGRAM

Geodex Minerals Ltd. has received antimony, gold and silver assays for additional rock grab samples collected at the West Gore antimony-gold project. Assays confirm significant antimony and gold content for multiple samples with assays up to 27.1 per cent Sb and 72.5 grams per tonne Au.

The West Gore project is located in west-central Nova Scotia, approximately 50 kilometres northwest of Halifax. The project was recently acquired by Geodex through an option agreement with Elk Exploration Ltd. Previous antimony and gold mining was conducted within the project area during 1884 to 1917 with most production reported from the Main vein fissure (Geodex news release of June 25, 2014).

Previous limited rock grab sampling by Geodex confirmed gold and antimony mineralization in the waste rock dumps near the Main vein (including assays of 153 g/t Au and 21 per cent Sb), and antimony-bearing rubble in the reported area of the Brook vein, with a sample returning 56.9 per cent Sb (Geodex news release of July 31, 2014). Geodex personnel revisited the property in August to conduct more thorough prospecting and rock sampling in the Brook vein area and to collect additional rock samples in the Main vein area, mainly from the waste dumps. Eighteen rock grab samples were collected and submitted to Activation Laboratories (Ancaster, Ont.) for antimony assay by Instrumental Neutron Activation Analysis (INAA), and gold and silver assay by fire assay -- gravimetric (FA-GRA).

Brook vein area

Prospecting was conducted in the area of the reported Brook vein with eight rock grab samples of vein and metasediment being collected. The samples were collected within and immediately adjacent to a brook cutting through this area, being within a 300-metre east-west stretch along the brook. Samples WG-R-14-7 and WG-R-14-8 were outcrop samples. The other samples were of rubble within or adjacent to the brook. Sample WG-R-14-15 returned the most significant results, assaying 24.4 per cent Sb and 53.4 g/t Au. Antimony and gold assays for all rock samples are set out in an attached table.

              Sb (%)    Au (g/t)
Sample ID      INAA     FA-GRA

WG-R-14-7     0.001     less than 0.03
WG-R-14-8     0.001     less than 0.03
WG-R-14-10     23.7     19.7
WG-R-14-11    0.191     less than 0.03
WG-R-14-12    0.742     less than 0.03
WG-R-14-13    0.455     32.7
WG-R-14-14    0.363     less than 0.03
WG-R-14-15     24.4     53.4

Sample WG-R-14-15 returned 13 g/t Ag, being the highest silver assay.

Main vein area

Additional rock grab samples were collected from the general area of the Main vein shafts. These were samples WG-R-14-16 to WG-R-14-25. Samples included both vein-dominant material (quartz -- stibnite) and a variety of metasediments (variably altered, with and without veining and sulphide mineralization). All but one sample were from the waste dumps. Of note, sample WG-R-14-21 returned 27.1 per cent Sb and 53.9 g/t Au, while WG-R-14-25 returned 8.08 per cent Sb and 72.5 g/t Au. Sample WG-R-14-18 was a piece of rubble, being adjacent to a trench outside of the waste dumps. Antimony and gold assays for all samples are set out in an attached table.

              Sb (%)    Au (g/t)
Sample ID      INAA     FA-GRA

WG-R-14-16     2.30     4.5
WG-R-14-17    0.019     less than 0.03
WG-R-14-18     1.42     less than 0.03
WG-R-14-19    0.058     less than 0.03
WG-R-14-20    0.100     less than 0.03
WG-R-14-21     27.1     53.9
WG-R-14-22     2.78     less than 0.03
WG-R-14-23    0.148     less than 0.03
WG-R-14-24     1.57     11.7
WG-R-14-25     8.08     72.5

Christopher Ecclestone, chief executive officer of Geodex, commented: "It is interesting to reflect that the exigencies of wartime antimony production in the period of 1914-1918 seem to have resulted in West Gore's potential as a gold deposit, in addition to it being a rich antimony deposit, being pushed into the background, with high-grade gold ending up in the dumps. This raises the opportunity for Geodex to exploit West Gore for two high-value metals instead of just one."

Geodex is planning trenching/pitting and geophysics programs for the next phase of work over coming months. Trenching is planned for multiple areas. This includes the Brook vein area. Geodex personnel have closely examined previous drill core from this area. This information will be used to spot trench sites. Trenching is planned for the Main vein in the area of sample WG-R-14-18. Geodex management intends to test its thesis that the Main vein may be exposed near surface in this location. Trenches and pits are planned for the waste dumps in this area to further evaluate and more thoroughly sample. Other trenches are planned elsewhere to test antimony soil anomalies. An induced polarization (IP) survey is planned for the Main vein area, including deeper-penetrating IP (induced polarization). Historical assessment reports indicate the potential for the Main vein to continue at depth below the previous mine levels and possibly plunge to the southeast.

Geodex's disclosure of a technical or scientific nature in this press release has been reviewed and approved by David Martin, PGeo, 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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