TUNGSTEN- MOLYBDENUM. New Brunswick, Canada

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1 TUNGSTEN- MOLYBDENUM New Brunswick, Canada

2 DISCLAIMER This presentation by Geodex Minerals Ltd. (the Company ) contains forward-looking statements, including, in particular, statements about the Company s plans, strategies and prospects. These statements have been based on the Company s current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that these expectations will prove to be correct or that results anticipated in the forward-looking statements will be achieved. These forward-looking statements include risks and uncertainties. These risks and uncertainties include, among other things, market conditions, industry uncertainty and other factors.

3 GEODEX MINERALS Primary Asset Development Stage Metals Key Factors Sisson Brook, New Brunswick Initiating pre-feasibility Tungsten, Molybdenum Favourable location: excellent infrastructure and in a politically stable country Potential for low cost, large, open- pit mine Appealing tungsten demand-supply dynamic TSX.V: GXM Frankfurt: G2W

4 NEW BRUNSWICK, CANADA Sisson Brook Mount Pleasant West Sisson Brook Located within one hour drive of Fredericton, provincial capital of New Brunswick Stable, mining - friendly jurisdiction with excellent labour force Geodex owns 86% (70% directly and 16% indirectly), no royalties

5 GEODEX MINERALS Management & Directors Sisson Brook Mark Fields, President, CEO, Director Jack Maris, Chairman, Director Jack M. Marr, V.P. Exploration, Director Jack Patterson, Director David M. Buckle, Director Neil S. Seldon, Director Mount Pleasant West Blaine Bailey, Chief Financial Officer Neil D. Humphreys, Chief Geologist David Martin, Regional Manager New Brunswick Advisory Board David Sinclair Ph.D William Gardiner M.Sc. Raymond Dujardin, P.Eng.

6 GEODEX MINERALS Key Project: Pre-feasibility phase Sisson Brook: Tungsten Molybdenum Exploration Portfolio: Tungsten and New Brunswick focus Mount Pleasant West: Tungsten, tin, indium (currently optioned to Teck) Flume Ridge: Nashwaak: Tungsten (drill program recently completed) Tungsten, tin (key strategic location close to Sisson Brook)

7 SHARE STRUCTURE November 2009 SHARES OUTSTANDING FULLY DILUTED CASH ON HAND 88.3 million shares million $0.5 million 52 Week Range: $ $0.29

8 WORLD MINE PRODUCTION 2008 World Production Source

9 TUNGSTEN PRICE Tungsten APT* European free market $ per mtu 350 AVERAGE PRICE Jan-04 Jun-04 Nov-04 Apr-05 Sep-05 Feb-06 Jul-06 Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jan-09 Jun-09 *APT = Ammonium Paratungstate 1mtu =10kg Source: Metal Bulletin

10 ANNUAL WORLD TUNGSTEN PRODUCTION Source: ITIA

11 CHINA FACTORS China has dominated tungsten markets for the past 20 years, and currently supplies over 75% of world s tungsten. China has recently shifted from an exporter to a net importer with an increasing focus on producing downstream tungsten products. China now prohibits domestic tungsten exploration by foreign companies. Tungsten prices have increased as China s expansion and infrastructure build-out surpassed tungsten mine capacity. Geodex has opportunity to position itself as a key supplier in world tungsten industry.

12 POLICY SHIFT Tungsten listed as one of the Protective Resources Policy of Qualified Tungsten Exporter and Export Supplies Export rebate reduced from 13% to 8% and then cancelled 2007 present - Export duty introduced and maintained Net Result: China shifted from policy of encouraging tungsten exports to discouraging tungsten export Source: China Minmetals Nonferrous Metals Co., Ltd

13 SISSON BROOK DEVELOPMENT CONCEPT Right ingredients for developing low-cost mine Bird Brook Tailings Area Infrastructure on or near project includes: provincial highway hydro line railway deep water ports Previously logged area with extensive road network Process Plant Engineering, Geotechnical, environmental and community studies continue to progress Power Line Potential Open Pit Mine producing 20,000 tonnes per day

14 SISSON BROOK DEPOSIT Zone II Zone I Tungsten - Molybdenum 46,500m of drilling carried out since 2005 Core Zone Zone III Jan 2009, new resource calculation completed Feb 2009 preliminary economic assessment completed Ellipse Zone Initiating pre-feasibility study East Flank

15 Block Model Near Surface Level Plan Core Zone Cross Section Zone III is 1,500m long and averages approximately 500m wide W E Central higher grade Core Zone for start of mining Ellipse Zone 275 m ELEVATION

16 SISSON BROOK CROSS - SECTION Mineralization remains open to depth Open pit modeled at 1:1 strip ratio

17 2009 RESOURCE MODEL Sisson Brook January Resource Calculation Zone III & Ellipse Zone III & Ellipse Tonnes (million) % WO3 %Mo WO3% Equivalent (2.02:1) WO3 Kg (million) Mo Kg (million) M & I Inferred * At 0.125% WO3 equivalent cutoff grade, based on %WO3 + (%Mo x 2.02) M & I = Measured & Indicated

18 SCOPING STUDY MAY 2009¹ Production Method Mine Life Processing Open Pit 20 Years Pre Concentration Conventional Milling Gravity/Flotation Recoveries WO3 Mo Pre Sorting before Milling 96% 84% Total Mined Ore 74% 70% ¹ This assessment is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary assessment will be realized. The mineral resources discussed here are not mineral reserves and do not have demonstrated economic viability. Jack M. Marr, M. Sc. P. Geo., is the QP, responsible for the Sisson Brook project.

19 SCOPING STUDY MAY 2009 Price Assumptions WO3 (APT Price) Mo Unit¹ $US 220 / mtu* (US $10 / lb) $US / pound * 1 mtu = 10kg Capital Cost $ US (million)¹ Capital Cost $ % Contingency $ 78 Total Capital Cost $ 341 Operating Cost $ CDN Per Tonne $ US Per Tonne¹ Mine Ore + Waste Plant G & A Total ¹Conversion used: $1CDN = $0.85 US

20 SCOPING STUDY MAY 2009 Annual Average Metal Production MTU (10kg = 1MTU) Kilogram (million) Annual Revenue $US (million) WO3 470, Mo Total Financial IRR (from year 2) 23% NPV (8% discount) $US 372 mill Payback Year 4

21 SENSITIVITY ANALYSIS IRR % 40 NPV/IRR Sensitivity to WO3 Price 8% ($US M) Base Case IRR Base Case Scenario IRR 23% NPV US 8% Discount NPV % -30% -20% -10% % 20% 30% 40% 50% WO3 Price ($US) -150

22 PROPOSED PRE - FEASIBILITY PROGRAM Duration, Cost 6 8 Months, CDN$1.1 million Purpose Refine details of mine development and profitability Provide the basis for future work including feasibility report Metallurgical Testwork Mine Layout and Engineering Plant Process and Design Site Development Environmental Monitoring / Community Studies Waste/Tailings Planning Financial Modeling and Analysis

23 TUNGSTEN PRIMARY USES A Unique Metal Hardest of all metals Highest Melting Point Lowest Expansion Coefficient High Thermal and Electrical Conductivity Source: ITIA

24 CEMENTED CARBIDES Mining and Construction Tooling Turning, Milling, Drilling Woodcutting Hard & Resistant: Wear Parts

25 STEELS/ALLOYS Tool Steels Heat Resisting Steel and Cast Steel Stainless Steel & Valve Steels Tungsten Alloys High Speed Steel

26 MILL PRODUCTS Tungsten Electrodes for Plasma Spray High Temperature Furnaces 2800ºC Incandescent Lamps LCD Technology & Modern Integrated Circuitry

27 OTHER APPLICATIONS Chemical Products Sports & Leisure Time Biology Jewellery

28 RESEARCH AND DEVELOPMENT New Technologies Deep Drilling (wear & corrosion resistant drill heads) Power Generation (alloy in turbine blades) Thermonuclear Energy (ITER divertor surface) Chip Technology (3-D vias for interconnections) Tungsten & the Environment Catalyst to clean exhaust fumes or products from toxic compounds Saves fossil fuels through energy saving devices As a substitute for toxic lead and chromium Directional Drilling Chip Technology Medical Industry Micro Machining Brain Implant Needle Arrays