Intercontinental Gold and Metals Ltd.

Includes $1 Million Private Placement at $0.30 Per Share

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/31/10 -- Geodex Minerals Ltd. (TSX VENTURE: GXM)(FRANKFURT: G2W) (the 'Company' or 'Geodex') is pleased to announce that Northcliff Exploration Ltd. ('Northcliff') of the Hunter Dickinson group has signed an agreement to acquire a 70% interest in the Company's Sisson Brook tungsten-molybdenum project ('Sisson Brook Project') in New Brunswick, Canada. A letter agreement has been executed and a definitive agreement between the companies will be completed and announced in the next few weeks.