Geodex reports further drill results from the 'East Flank Zone' at Sisson Brook and discovery of the new western 'Ellipse Zone'



    Trading Symbol : GXM
    Frankfurt : G2W

    VANCOUVER, Jan. 10 /CNW Telbec/ - Geodex Minerals Ltd. (TSX-V: GXM) ('the
Company') is pleased to report further assay results from the
recently-reported East Flank zone at Sisson Brook (see News Release of October
29, 2007). This new zone was located during the 2007 drill program and lies at
the eastern margin of Zone III which was the subject of resource estimates
released in News Releases of March 28, 2007 and October 17, 2007. Because of
its relatively recent identification, the east flank was not included in these
resource estimates and was not part of the Sisson Brook Scoping Study (News
Release November 16, 2007).
    The company also reports discovery of a new zone, named 'Ellipse' in
'scout' drilling on the west side of the potential Zone III open pit near the
powerline. Both testify to the large size of the Sisson Brook mineralized
system which continues to grow.
    Recent results from both areas are as follows:

    
    -------------------------------------------------------------------------
              Grid           Az.  Incl.  From     To:  Inter'n    WO3     Mo
              Location                      m.     m.        m.     %      %
    -------------------------------------------------------------------------
    EAST
    FLANK
    -------------------------------------------------------------------------
    SB-07-51  5+00S, 0+65E  272    -55   82.5  255.0     172.5  0.107  0.067
    -------------------------------------------------------------------------
               'including'              195.0  253.5      58.5  0.134  0.131
    -------------------------------------------------------------------------
    SB-07-54  7+00S, 0+25E  277    -55  187.0  227.5      40.5  0.075  0.056
    -------------------------------------------------------------------------
    SB-07-57  6+50S, 0+25E  272    -55   12.5  229.5     217.0  0.061  0.025
    -------------------------------------------------------------------------
    SB-07-59  5+50S, 0+50E  272    -55   35.5  284.5     249.0  0.118  0.038
    -------------------------------------------------------------------------
               'including'               94.0  182.5      88.5  0.211  0.037
    -------------------------------------------------------------------------

    ELLIPSE
    -------------------------------------------------------------------------
    SE-07-02  11+00S,       040    -45  103.0  187.0      84.0  0.087  0.026
              8+65W
    -------------------------------------------------------------------------
              'including'               158.5  187.0      28.5  0.160  0.055
    -------------------------------------------------------------------------
    SE-07-05  10+40S,       040    -45   23.0  119.0      96.0  0.066  0.025
              8+15W
    -------------------------------------------------------------------------
    

    In the 'East Flank' area, previously released drill hole SB-07-53 on
line 6+00S showed an enriched area in molybdenum, namely 0.122% Mo over an
intersection of 251.3 m. The holes above show similar enrichment but with more
variability. This variability includes holes such as SB-07-59 which have above
average Zone III molybdenum values but have much higher tungsten values.
    The 'Ellipse Zone' is entirely new. It lies on the west side of the
gabbro body, a few hundred metres west of the projected Zone III open pit. A
trench was excavated in 2007 (assays not yet received) and several 'scout'
holes were drilled to test the up-ice edge of the most prominent
molybdenum-in-soils anomaly on the property which did not appear to reflect
any of the known zones of mineralization. While results show typical Zone III
assays over significant widths, the 28.5 m deeper zone in drill hole SB-07-02
has double these values. This hole was ended prematurely and this higher-grade
deep zone may be considerably wider. The company is not convinced that the
up-ice 'source' area for the molybdenum soil anomaly has yet been found. Grid
drilling in 2008 will try to pinpoint this source and continue testing of the
higher grade zone discovered in drill holes SB-07-02 and SB-07-05.
    One drill remains on the property to continue testing east of the East
Flank zone and carrying out the first drilling on the high-grade Goodwin
tungsten skarn which was found late in 2006 (News Release July 19, 2007). It
lies three kilometres to the north of Zone III. Several regional targets will
see preliminary testing before the drill is stood down at the end of January
for maintenance. Drilling is planned to resume in early April, initially with
three rigs.
    Jack Marr, M.Sc., P.Geo., is the in-house QP for this project.

    Forward Looking Statement
    -------------------------

    Certain information regarding the Company contained in this press release
may constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
opinions, forecasts, projections or other statements that are not statements
of fact. Although the Company believes that expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. The Company cautions that actual
performance will be affected by a number of factors, many of which are beyond
the Company's control, and that future events and results may vary
substantially from what the Company currently foresees.

    On Behalf of the Board of Directors
    -----------------------------------
    GEODEX MINERALS LTD.

    'Jack M. Maris'

    Jack M. Maris,
    President

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the accuracy or adequacy of this release.




For further information:

For further information: Christopher R. Anderson, V.P Business
Development, (604) 689-7771, Toll free 1-888-999-3500,
info@geodexminerals.com, www.geodexminerals.com; Renmark Financial
Communications Inc.: Neil Murray-Lyon, nmurraylyon@renmarkfinancial.com;
Christine Stewart, cstewart@renmarkfinancial.com; Media: Eva Jura,
ejura@renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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