Geodex Signs Jake Lee Mountain REE Property Option With Cache Exploration Inc.

Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W) ("Geodex") has signed a
property option agreement on the Jake Lee Mountain REE Property with Cache
Exploration Inc. (TSX VENTURE:CAY) of Toronto, ON. 


The Jake Lee Mountain REE Property consists of 152 contiguous claim units
located in Charlotte County in southwest New Brunswick (see attached Appendix A
- Sketch Location Map of Jake Lee Mountain REE Property). The terms of the
property option agreement provide that Cache will earn an initial 51% interest
in the Jake Lee Mountain REE Property in exchange for 50,000 common shares
issued to Geodex upon regulatory approval and incurring $75,000 of exploration
expenditures by September 30, 2014. Cache will then have an elective option
right to increase this to a 60% interest by notifying Geodex of this intention
within 60 days of earning the initial 51% interest, issuing an additional
100,000 common shares to Geodex, and incurring an additional $75,000 of
exploration expenditures by September 30, 2015. Once the initial 51% or elective
60% interest has been earned, an industry standard joint venture will be formed
between Geodex and Cache to continue to advance the Jake Lee Mountain REE
Property.


Mr. George A. Brown, President and CEO of Cache states: "Cache are very pleased
to have entered into an agreement with Geodex that will potentially lead to a
long term business relationship with Geodex and their management that have shown
proven success in developing properties to the production or take out stage as
recently demonstrated by the sale of the Sisson Project to Northcliff Resources
Ltd. this past June." 


Mr. Mark Fields, President and CEO of Geodex states: "Geodex selected Cache as a
potential joint venture partner on the Jake Lee due to their expertise in
exploration for rare earth elements and the potential of their other properties
including the ones in New Brunswick. We look forward to developing the Jake Lee
in a lasting relationship." 


Historical information regarding the Jake Lee Mountain REE Project. Dr. David
Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101
and was responsible for reviewing the technical information contained in this
news release.


The Silurian Jake Lee Mountain Granite underlies most of the Jake Lee Mountain
mineral claim. The Jake Lee Mountain Granite is in contact with Silurian
sedimentary rocks (includes sandstone, wacke, siltstone, conglomerate, and
shale) and mafic / felsic volcanic rocks in the southwest region of the claim
group and extending along the southeast to east boundary of the claim group. 


The New Brunswick Department of Energy and Mines document three mineral
occurrences near the southeast to east boundary of the Jake Lee Mountain mineral
claims, all occurring within 1 kilometre of the Jake Lee Mountain Granite
contact. The southern most of these is the Love Lake copper-lead-silver-zinc
occurrence, which occurs along the Back Bay - Wheaton Brook Fault. Further
northeast are the Jake Lee Brook copper-zinc and the Hawkins Lake copper-lead
occurrences. The Jake Lee Brook and Hawkins Lake occurrences are also in close
proximity to the Back Bay-Wheaton Brook Fault. The New Brunswick Department of
Energy and Mines also document the Wellington Lake North lead-zinc occurrence
near the northern boundary of the Jake Lee Mountain claim group.


The assessment files of the New Brunswick Department of Energy and Mines show
historical exploration in the area of the Jake Lee Mountain mineral claims from
1967 to 2005 including work by Essex Minerals Company (1976), Shell Canada
Resources Ltd.(1980-81), Derek Brown (1983-89), Noranda Exploration Company
(1989) Limited, Brunswick Mining and Smelting Corporation Limited (1992-93), and
PGE Resources Corp. / Fosters Resources Ltd.(1995-2004).


Geodex Minerals conducted prospecting and B horizon soil sampling within the
Jake Lee Mountain mineral claim during the summer of 2011. The primary target of
this work was rare earth elements (REE). Historical soil and stream sediment
samples were locally anomalous for lanthanum in the southern half of the claim
group (Love Lake to Jake Lee Brook areas). These coincide with the southern area
of the Jake Lee Mountain Granite and the adjacent contact area. The Jake Lee
Mountain Granite is documented to be peralkaline and therefore a potential host
for REE mineralization. Geodex staff conducted a B horizon soil sampling program
collecting 412 samples. This work was focused on the southern half of the claim
group in the Love Lake to Jake Lee Mountain to Hawkins Lake areas and covered
areas in which historical soil and stream sediment sampling had identified
lanthanum anomalies. 


The 2011 exploration program supported the potential for REE mineralization
within the Jake Lee Mountain mineral claims. This potential is most apparent in
the Jake Lee Brook area and an area east-northeast of Love Lake. Soil samples
collected in both areas generally returned higher levels of REE. Both of these
areas coincide with the southern mapped area of the Jake Lee Mountain Granite
and the southern contact area of this intrusive. Of particular interest in the
Jake Lee Brook area is a narrow northwest trending zone in which soil samples
consistently returned over 100 ppm total analyzed heavy REE including one sample
returning 1,852 ppm total analyzed light REE and 617.7 ppm total analyzed heavy
REE. The most significant rock sample reporting REE was collected within this
trend; a granitic float sample (in part pegmatitic) returning 1,850.09 ppm total
analyzed REE. Compared to the other rock samples, this particular sample was
significantly higher in thorium and zirconium. This and the other rock sample
returning higher REE also contained slightly higher levels of niobium. A soil
sample close to Jake Lee Brook was highly anomalous for niobium (1,945.5 ppm). 


The initial 2011 gold soil analysis indicated several gold anomalies in the Jake
Lee Brook area. However, only a very small proportion of the 2011 soil samples
were assayed for gold. Additional gold assaying is recommended for the 2011 soil
samples, including more of the samples from the southern region in the contact
zone of the Jake Lee Mountain Granite and more of the samples from the Jake Lee
River area (adjacent to the anomalies identified in 2011). Soil sampling also
identified local anomalies of other metals including molybdenum, gold, copper,
zinc and tin.


About Geodex

Geodex is a mineral resource company focused on New Brunswick, Canada. Geodex
has continued to actively develop its exploration portfolio focused on the
discovery of critical metals in New Brunswick. Its current main focus is the
Dungarvon Project to follow up promising 2011 drill results. Geodex has operated
for a decade in New Brunswick where it has had a number of discovery and
development successes including Sisson and Mount Pleasant West.


ON BEHALF OF THE BOARD OF DIRECTORS

GEODEX MINERALS LTD.

Mark Fields, President & CEO

Forward Looking Statement

Certain information regarding Geodex 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 Geodex 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. Geodex cautions that actual
performance will be affected by a number of factors, many of which are beyond
Geodex's control, and that future events and results may vary substantially from
what Geodex currently foresees. 


To view Appendix A, click on the following link:
http://media3.marketwire.com/docs/g1114m.pdf


FOR FURTHER INFORMATION PLEASE CONTACT: 
Geodex Minerals Ltd.
Investor Relations
(604) 689-7771 or Toll free: 1-888-999-3500
(604) 689-5528 (FAX)
info@Geodexminerals.com
www.Geodexminerals.com
Geodex Minerals Ltd. (TSXV:GXM)
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