Properties

Flume Ridge Property

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Introduction

The Flume Ridge property is located immediately west of the company's Mount Pleasant West project in southern New Brunswick. The property comprises 121 claim units with a total area of 2,706 hectares. In April, 2009, Geodex completed an option agreement with two New Brunswick companies, Southfield Resources Ltd. and Campfire Resources Ltd., to acquire a 90% interest in the property (Company News Release - 21 April, 2009).

Geological Setting and Exploration History

The area of the Flume Ridge property has very little outcrop but is shown on government regional geology maps to be underlain mainly by the Flume Ridge Fm of Silurian age. This unit is described as a sequence of micaceous and calcareous feldspathic wackes , mudstones and shales. The northern part of the claim group is covered by a thin layer of Carboniferous-aged red conglomerates and sandstones.

Several isolated aeromagnetic highs, thought to reflect buried granitic intrusions, are located on and near the Geodex property. No outcrops of intrusive rocks are known on the claims, although according to government assessment reports, angular feldspar porphyry float containing arsenopyrite, pyrite and pyrrhotite was found in the area of the present claim block.

The first Flume Ridge claims were staked to cover an area of government stream sediment and till tungsten anomalies located in the vicinity of isolated aeromagnetic highs. Follow-up prospecting and reconnaissance soil sampling led to the discovery of scheelite-bearing float and anomalous tungsten values in soil samples collected up-ice of the mineralized float. Further prospecting then turned up a small outcrop with narrow quartz veins containing scheelite.

Geodex's soil sampling has identified a tungsten anomaly approximately 2,500m by 2,000m which correlates well with an aeromagnetic high. Within the tungsten anomaly are scattered tin anomalies, the most interesting of which is a cluster of high tin values in the western part of the anomaly. Anomalous tungsten and tin values were also found in basal till samples collected from a series of Pionjar overburden holes drilled prior to trenching. One sample had 3,640 ppm W and 336 ppm Sn while another sample had 1,210 ppm W.

Four shallow trenches were excavated over a distance of about 200 metres to expose bedrock within the soil anomaly. Mapping of the trenches shows scheelite occurring largely within steeply-dipping quartz veins cutting strongly silicified clastic metasediments. Pyrrhotite is common in the altered rocks and minor arsenopyrite has been identified. The quartz veins are up to 30cm wide but more commonly are in the order of 2-5cm in width. The veins have two consistant orientations: one set striking about east-west - concordant with the bedding in the metasediments; and, a cross-cutting vein set striking just east of north. Preliminary evidence indicates better tungsten mineralization in the concordant veins.

Diamond Drilling

In early November, 2009, Geodex completed a six hole, 610 metre diamond drilling program to test sections of the coincident soil geochemical and geophysical anomaly and trenched areas on the property. The location of the holes is shown on the map above. Assay results from the holes are expected by the end of December, 2009.

Neil Humphreys, M. Sc. P. Geo., is the QP, responsible for the Flume Ridge project.

The Company expressly warns readers not rely on the information herein for investment or other related purposes. Accordingly, any use of thsi information is at their own risk and without liability to the Company. The information contained herein is not, and under no circumstances is to be construed as either a public or private offer of sollitation to purchase securities in the capital stock .The reader is reffered to his/her professional investment advisor regarding investment or related decisions respecting the securities of teh company.