Mr. Gorden Glenn reports

GEODEX ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

The consolidation of the common shares of Geodex Minerals Ltd. on the basis of one postconsolidation common share for every 10 preconsolidation common shares will become effective on Feb. 9, 2016. The company has received final acceptance by the TSX Venture Exchange to effect the consolidation. The postconsolidation common shares are expected to begin trading on the TSX-V at the opening of the market on Feb. 9, 2016, under the existing stock symbol GXM. A new Cusip number has been obtained to replace the previous Cusip number to distinguish the preconsolidation common shares and the postconsolidation common shares.

Following the consolidation, the company will have approximately 2,110,053 common shares outstanding. The change in the number of issued and outstanding common shares resulting from the consolidation will not materially affect any shareholder's percentage ownership in the company, although such ownership will be represented by a smaller number of common shares.

With respect to the consolidation, letters of transmittal are being mailed out to the company's registered shareholders. All registered shareholders will be required to send their share certificates representing preconsolidation common shares, along with a properly executed letter of transmittal, to the company's registrar and transfer agent, Computershare Investor Services Inc., in accordance with the instructions provided in the letter of transmittal. Once a completed letter of transmittal is submitted to Computershare by shareholders, along with their respective certificates representing the preconsolidation common shares, such shareholders will receive their new postconsolidation common share certificates. Shareholders who hold their common shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their common shares in connection with the consolidation.

Upon completion of the consolidation, the previously issued 6.7 million special warrants of the company, which include 350,000 special warrants issued to certain finders in lieu of cash, will automatically be exercised into 670,000 units of the company. Each unit is composed of one common share and one-half of one common share purchase warrant of the company, whereby each warrant entitles the holder thereof to purchase one common share at a price of 20 cents per common share on or before July 17, 2017.

We seek Safe Harbor.