Must read Another Report On Geodex$0Geodex Minerals Announces Sisson Brook 2009 Diamond Drill Program Results$0$0Geodex Minerals Announces Sisson Brook 2009 Diamond Drill Program Results$0$0$0$0$0Resource Estimate Update Underway, Expected in December$0$0$0$0$0$0$0$0October 27, 2009$0$0TSX.V: GXM$0$0Frankfurt : G2W$0$0$0$0$0$0$0$0$0$0$0Geodex Minerals Ltd. (the 'Company' or 'Geodex') is pleased to announce the $0$0results of the 2009 diamond drill program at the Sisson Brook Project, $0$0located north of Fredericton, New Brunswick. The drill program, comprised of $0$028 holes totalling 4897 metres, was successful in achieving all of its goals $0$0to date. The program intersected tungsten-molybdenum mineralization in the $0$0targeted Inferred resource areas with the objective of upgrading the $0$0confidence level to the Measured and Indicated resource categories in the $0$0upcoming resource estimate being prepared by Mercator Geological Services. $0$0Additionally the Company further defined the higher grade central zone of $0$0the deposit. The updated independent 43-101 compliant Mineral Resource $0$0Estimate for Zone III and Ellipse Zone is expected to be completed in $0$0December and will serve as the basis for the planned pre-feasibility study.$0$0$0$0$0The 2009 program was the most recent of a series of drill programs that have $0$0successfully advanced Sisson Brook from the exploration stage into the $0$0development stage. Drilling by Geodex between 2005 and 2008 at Sisson Brook $0$0led to the definition of an important resource of tungsten and molybdenum $0$0which is amenable to low-cost open-pit mining methods. Please refer to the $0$0News Release of January 27, 2009 for the results of the most recent $0$0independent 43-101 - compliant Mineral Resource Estimate for Sisson Brook.$0$0$0$0$0As stated in the News Release of June 11, 2009, the goals of the 2009 drill $0$0program were three fold. The primary purpose was to upgrade a portion for $0$0the 'Inferred' resource in both Zone III and the Ellipse Zone to the $0$0'Indicated and Measured' category for use in the planned pre-feasibility $0$0study. These holes targeted 'Inferred' resources at the Ellipse Zone and the $0$0northern, southern and eastern regions of Zone III. A second objective was $0$0to provide better definition of the higher grade areas to potentially allow $0$0Geodex to mine higher grade mineralization in the early years of mining, $0$0thus reducing the capital cost payback period. This involved shorter holes $0$0within the central region of Zone III. The third goal was to test targets $0$0adjacent to Zone III and the Ellipse Zone. Drill holes here tested the area $0$0immediately south of Zone III and the area immediately east of Zone III. The $0$0attached map identifies 2009 drill areas with respect to the Zone III and $0$0Ellipse Zone deposits. The bulk of the Zone III and Ellipse Zone $0$0mineralization has now been drilled off on 50 metre fences.$0$0$0$0$0Drill core from the 2009 program was geologically logged and split with half $0$0core samples being submitted to Activation Laboratories (Ancaster, Ontario) $0$0for assay. Please refer to the Company's website (www.GeodexMinerals.com) $0$0for a complete list of results from the 2009 drill holes. The Table below is $0$0a summary of highlights from 12 of the more significant holes.$0$0$0$0$0$0$0$0To view the news including tables, please follow the link:$0$0https://www.irw-press.com/dokumente/October-27-2009-News-Release.pdf$0$0$0$0$0$0$0$0David Martin, P.Geo. and Geodex's Regional Manager for New Brunswick, stated $0$0"The program met all its expectations and we look forward to its $0$0incorporation into the block model. The program intersected higher grade $0$0tungsten-molybdenum mineralization within the central region of Zone III and $0$0significant tungsten and / or molybdenum mineralization in all targeted $0$0'Inferred' resource areas. Drilling also extended Zone III a further 50 $0$0metres to the south with weaker mineralization intersected an additional 60 $0$0metres to the south. We're looking forward to receiving the updated mineral $0$0resource calculation as we continue to advance the Sisson Brook project."$0$0The drilling program was conducted this summer at the contiguous Zone III $0$0and Ellipse Zone tungsten - molybdenum deposits, consisting of 28 holes $0$0(SB-09-01 to SB-09-28). Twenty-seven holes were completed as planned $0$0totalling 4897 metres while one hole (SB-09-20) failed to penetrate $0$0overburden. Results from the various drill zones are discussed as follows:$0$0$0$0$0Central Region of Zone III: Seven holes targeted the central region of Zone $0$0III with the objective of further defining this area of higher grade $0$0tungsten-molybdenum mineralization. Six of these holes intersected broad $0$0intervals of moderate to high grade combined tungsten - molybdenum $0$0mineralization (four higher grade intersections are indicated in the above $0$0table). This has further defined this central higher grade area.$0$0$0$0$0East Region of Zone III and Exploration Hole East of Zone III: Seven holes $0$0targeted 'Inferred' resources in the eastern-most region of Zone III in the $0$0northern half of the deposit. Six of the holes intersected significant $0$0tungsten mineralization over significant widths highlighted by 0.139% WO3 $0$0over 87.6 metres in SB-09-25. Molybdenum mineralization in these seven holes $0$0was generally weaker with the exception of hole SB-09-03, which intersected $0$00.061% Mo over 153 metres (including 0.095% Mo over 66 metres). This hole $0$0confirmed the area of higher Mo grades in the eastern part of Zone III, $0$0previously referred to as the 'East Flank'. This is now seen to be part of $0$0the higher grade central core of the Zone III deposit. Significant tungsten $0$0mineralization continued east of this area to the eastern margin of Zone $0$0III.$0$0$0$0$0Southern Region of Zone III: One hole drilled in this area (SB-09-15) $0$0intersected significant molybdenum mineralization assaying 0.066% Mo with $0$00.041% WO3 over 130 metres. Two additional holes were drilled further south $0$0testing the extension of Zone III. SB-09-18 was successful in extending the $0$0Zone a further 50 metres south (intersected 0.075% WO3 and 0.028% Mo over $0$085.5 metres). SB-09-28, drilled 60 metres south of SB-09-18, intersected $0$0intermittent tungsten-molybdenum mineralization suggesting the potential for $0$0Zone III type mineralization to continue further south.$0$0$0$0$0Northern Region of Zone III: Two holes were drilled (SB-09-12 and SB-09-14) $0$0in the northern-most region of Zone III, targeting 'Inferred' resources. $0$0Narrow intervals of tungsten mineralization were intersected (including $0$00.093% WO3 over 46.5 metres in SB-09-12) indicating intermittent tungsten $0$0mineralization along the north margin of Zone III.$0$0$0$0$0Ellipse Zone: Six holes were drilled at the Ellipse Zone, targeting $0$0'Inferred' resources. A fence of two holes was drilled across the northwest $0$0region of the Zone with the remaining holes testing the 'Inferred' resources $0$0along its north-east boundary. All holes intersected intervals of $0$0tungsten-molybdenum mineralization with variable grades. Tungsten $0$0intersections within the Zone varied from 0.041% WO3 over 85.00 metres $0$0(SB-09-09) to 0.127% WO3 over 27 metres (SB-09-13). Results for molybdenum $0$0were generally not as high as in previous drilling through the central $0$0region of this zone. The most significant intersections from the 2009 $0$0program were 0.029% Mo over 118.5 metres (SB-09-04) and 0.031% Mo over 55.5 $0$0metres (SB-09-08).$0$0$0$0$0Mercator Geological Services has been contracted to complete an updated $0$0independent 43-101 - compliant Mineral resource Estimate of Zone III and $0$0Ellipse Zone. This update, which will incorporate results from this 2009 $0$0drill program, is expected to be completed in December. This updated $0$0'Measured and Indicated' category estimate will be used for the planned $0$0pre-feasibility study.$0$0$0$0$0The pre-feasibility study Geodex is currently planning is the next major $0$0step in the progress of the Sisson Brook deposit towards achieving $0$0production. The pre-feasibility study will build on the Preliminary Economic $0$0Assessment completed earlier this year, refining details of the mine $0$0development and economic returns. Geodex is focused on realizing the value $0$0of developing a large, low cost open pit tungsten-molybdenum mine at Sisson $0$0Brook. The size, location and characteristics of Sisson Brook are such that $0$0it has the potential to become a significant producer of tungsten on a world $0$0scale.$0$0$0$0$0David Martin, B.Sc., P.Geo., CGA, Geodex's Regional Manager for New $0$0Brunswick is a qualified person under NI43-101 and is responsible for the $0$0design and conduct of the programs carried out by the Company on the Sisson $0$0Brook project. Mr. Martin has reviewed this release and approves its $0$0contents.$0$0$0$0$0$0$0$0ON BEHALF OF THE BOARD OF DIRECTORS$0$0GEODEX MINERALS LTD.$0$0$0$0$0Mark Fields,$0$0President & CEO$0$0$0$0