Mr. Gorden Glenn reports

GEODEX MINERALS ANNOUNCES CORPORATE UPDATE - OVER 2,300 OUNCES IN GOLD EXPORTS GENERATES REVENUE OF OVER US$3.0 MILLION

Following the completion of Geodex Minerals Ltd.'s corporate restructuring (see press release of Aug. 10, 2017), trading revenues to the end of September, 2017, totalled over $3.0-million (U.S.) on the export and sale of over 2,300 ounces of gold. This is a significant milestone for the company and was achieved in the company's first month of trading activity. Gold trading activity has been brisk with client offerings exceeding available working capital.

Trade volume and financial results from the company's inaugural month of trade activity were in line with previous forecasts, and the company continues to ramp up its client engagement, gold buying and other related business activities.

Forward guidance for the month of October, 2017, is for gold exports in the range of 130 to 150 kilograms for gross revenues in the range of $5.5-million (U.S.) to $6.5-million (U.S.).

Gorden Glenn, president and chief executive officer, commented: "We thank our clients and all stakeholders for their strong support, which has contributed to our success to date. While our first month of profitable operations exporting gold is immensely satisfying, our focus remains squarely on the execution of an aggressive growth strategy. Our client base continues to expand, and the only limitation to increased exports, trading revenues and profits is access to working capital."

The company's proposed name change to Intercontinental Gold and Metals Ltd. was approved by shareholders on Sept. 8, 2017. The company hopes to finalize the name change process with all regulatory bodies before the end of October, 2017, and will update shareholders accordingly. Concurrent to the name change, the company's stock symbol will change to ICAU on the TSX Venture Exchange.

The company is also pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.

In consideration of the services to be provided, the monthly fees incurred by Geodex Minerals will be a cash consideration of up to $8,000, starting Oct. 1, 2017, for a period of six months ending on April 30, 2018, and monthly thereafter.

Renmark Financial Communications does not have any interest, directly or indirectly, in Geodex Minerals or its securities, or any right or intent to acquire such an interest.

Gold market commentary

In its Aug. 3, 2017, update, the World Gold Council estimates gold demand was down 14 per cent in first half 2017 over first half 2016 to 2,003.8 tonnnes from 2,318.7 tonnes. The decrease in demand is attributed primarily to gold exchange-traded funds and investment demand, which both decreased significantly from record levels in first half 2016. Central bank demand was also modestly negative year over year. These declines were partially offset by modest year-over-year increases in other key areas of demand, such as jewellery, technology, and physical bars and coins. It believes the outlook for gold demand for the rest of the year is positive and will be supported by various factors, such as: continuing geopolitical risks, rising inflation expectations and golds perpetual reputation as a safe haven investment.

About Geodex Minerals Ltd.

Geodex has transformed itself into a next-generation metals and mining company. The company has been structured to provide high leverage to commodity prices, sustainable revenue generation to achieve above average growth and a high return on invested capital for its stakeholders. It believes its active involvement in the physical commodities market provides it with insights in global primary supply and demand trends that in turn create a strategic and competitive advantage on new mine development and expansion opportunities on a global basis. Geodex management and board have over 100 years collective expertise in exploration, development, operations, mining finance and capital markets to acquire and possibly make direct investments in projects and/or provide merchant banking advisory services to the benefit of shareholders and clients alike.

We seek Safe Harbor.