Goldex Resources Announces Trench Assays Of19.34 G/T Au Over 3.20 Meters And 15.25 G/T Au Over 4.10m From The El Cerrito Sector Of Its El Pato Project In Guatemala.

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VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) today announced sample assay results from the El Cerrito sector of its flagship El Pato property in Guatemala.  Samples were taken as part of ongoing geological work at El Pato over the summer and fall of 2011.

The reported samples were collected from trenches in the El Cerrito Zone at El Pato, where the strike length of the vein through the El Cerrito zone runs to almost 400 meters with much of this length trenched and sampled.  Where exposed, the samples exhibit the expected style of high-grade mineralization. The sampled mineralized intervals of up to 5.1m in width contain irregularly exposed quartz veins up to 2.0 meters or more, with grades of up to 81.9g/t Au, as well as mineralized wallrock with grades of up to 23.3 g/t Au.

Directly within this zone, a total of 78 channel samples ranging between 5 and 9 kilograms were taken from both the vein and adjacent wallrock by Goldex geologist Edward Wells, a Qualified Person consistent with NI 43-101.  Channel samples were cut perpendicularly across the vein structure as best as was possible. These samples were subsequently analyzed by the Inspectorate Laboratory in Reno, Nevada for gold. 

Seven of the 78 channel samples were sent to Kappes, Cassiday and Associates* (KCA) in Reno, Nevada for additional metallurgical testing by flotation method. These results, when compiled, will be the subject of a future news release. The remaining 71 channel samples are being used as estimation for the general bulk values of the El Cerrito zone with the highlights referenced in the subsequent table. The table lists highlighted assay grades of the individual samples as well as a weighted average of 19 continuous vertical intervals where appropriate. Note that significant gold values were also obtained in many of the adjacent Wallrock zones.

Sample ID

Au g/t

Vein or Wallrock

Vertical Interval

Width (m)

Total Meters

Vertical

Interval

Weighted Average Grade over Vertical Interval

(g/t Au)

15102

12.20

V

1.0 -1.22

0.22

1.12

@

2.40

15103

1.53

WR

1.22 – 2.12

0.90

15105

41.85

V

0 – 1.30

1.30

2.30

@

23.65

15106

6.09

WR

1.30 – 2.30

1.00

15108

19.57

V

1.00 – 1.62

0.62

1.15

@

15.18

15109

8.99

WR

1.62 – 2.07

0.45

15110

15.95

V

2.07 – 2.15

0.08

15113

4.64

V

1.00 – 1.80

0.80

0.80

@

4.64

15121

5.47

WR

0-1.00

1.00

2.10

@

5.17

15122

4.90

V

1.00 -2.10

1.10

15130

6.73

V

1.00 – 1.40

0.40

4.10

@

15.25

15131

1.35

WR

1.40 -1.90

0.50

15132

5.66

V

1.90 – 2.10

0.20

15133

23.35

WR

2.10 – 2.90

0.80

 

31.54

V

2.90 – 4.10

1.20

15135

1.49

WR

4.10 – 5.10

1.00

15136

3.12

WR

0 -1.90

1.90

1.90

@

3.12

15138

4.52

WR

0 – 1.90

1.90

1.90

@

4.52

15142

81.93

V

1.55 – 2.25

0.70

1.60

@

49.27

15143

23.87

WR

2.25 -3.15

0.90

15144

62.92

V

0 – .70

0.70

0.70

@

62.92

15181

10.73

WR

0 – 1.60

1.60

1.60

@

10.73

15188

7.81

V

1.20 – 2.10

0.90

0.90

@

7.81

15191

6.33

V

1.50 -1.77

0.27

2.37

@

15.92

15192

0.34

WR

1.77 – 2.77

1.00

15193

32.45

V

2.77 – 3.87

1.10

15196

3.87

WR

0.90 – 2.10

1.20

3.20

@

19.34

15198

28.62

V

2.10 – 4.10

2.00

15201

3.52

WR

0.90 – 2.60

1.70

3.90

@

2.84

15202

0.25

WR

2.60 – 4.60

2.00

15203

23.07

V

4.6 – 4.80

0.20

15204

12.73

V

0 – 0.50

0.50

0.50

@

12.73

15215

3.34

WR

1.40 – 3.40

2.00

2.00

@

3.34

15219

3.13

V

1.20 – 3.00

1.80

1.80

@

3.13

15222

2.65

WR

0 – 0.50

0.50

0.50

@

2.65

 

From 78 samples taken, 35 graded less than 0.5 g/t Au, while 43 graded between 0.5 and 81.9 g/t Au. The weighted average grade of all samples taken was 6.48 g/t Au. True width has not been established.

Results were collected from gold by fire assay with an AA finish performed by Inspectorate Labs located in Reno, Nevada. Samples were shipped from Inspectorate Labs in Guatemala City after being transported there from the El Pato site by the Goldex geological team.

The sample results listed in the information above show significant levels of mineralization exist in the El Cerrito zone. These tests were conducted as part of a larger continuing program to provide the basis for the high grade surface zone mining plans that Goldex intends to put in place at El Pato.

“The trenching results confirm the presence of high grade mineralization in vein structures, as well as mineralized wallrock material that can be found adjacent and between the stacked or sheeted veins. This is significant from an economic point of view as any future production would be able to mine widths beyond the thickness of the veins present and significantly reduce waste rock material.  We believe there to be a number of high grade zones evident at El Pato and our exploration work continues to be focused on defining the size and nature of the resource at hand”, stated Goldex President Chuck Ross.

The El Pato project is located in south-eastern Guatemala, 10 kilometers west of the town of Chiquimula, the closest commercial centre to the project and approximately 110 kilometers east of Guatemala City. The project is accessible via paved road.

CHUCK ROSS, President

GOLDEX RESOURCES CORPORATION

This news release has been reviewed and approved by Edward Wells (P.Geo), a Qualified Person consistent with NI 43-101.

About Goldex Resources

Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex’s operations include prestigious, strategically focused projects in both Guatemala and Mexico

For more information please visit:  www.goldex.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

Goldex Resources Gains Permit Approval for Drill Program at El Arco, Mexico.

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VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) today reported receipt of permit approval for a 15,000m, 50 hole drill program consisting of both Core and RC drilling.

 

Management issued a press release in July of 2011 announcing a phase one 4000m RC drill program at EL Arco as permits were initially thought to be in hand. After a company led review of the process the company discovered that an environmental permit would be required from the relevant governmental agency, SEMARNAT. The application was filed in September and after a site visit by SEMARNAT on the 22nd of October and the subsequent processing period authorities in Mexico granted the requisite permits which pave the way to a commencement of drill operations at EL Arco.

 

In the meantime company management has been in constant contact with prospective drill companies with the intention of signing a contract as soon as permit approval was granted. As such a drill contract and the subsequent commencement of activities at EL Arco are expected to be announced shortly.

 

“We can now look forward to the commencement of our planned drill program. We intend to push forward with our exploration of El Arco and uncover the value of this exciting target”, stated Goldex President Chuck Ross.

 

The EL Arco property is located in the Mexican State of Durango which is host to a number of illustrious neighbors and mines including Great Panther Silver, with its ‘Topia’ Property and Fresnillo PLC’s ‘La Cienega’ mine, previously one of the largest producing gold mines in Mexico. Goldex VP of exploration, Larry Kornze, formally the regional manager of Mexico and Central America for Barrick Gold has called EL Arco “The best undrilled property in the America’s” and was part of the geology team responsible for the planning of the upcoming drill program.

 

CHARLES ROSS, President

GOLDEX RESOURCES CORPORATION

 

About Goldex Resources Corp

 

Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex’s operations include prestigious, strategically focused projects in both Guatemala and Mexico.

 

For more information please visit:  www.goldex.ca

 

Forward-Looking Statements

 

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

 

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Goldex Announces Private Placement

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VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 30,000,000 units at a price of $0.05 cents per unit to raise gross proceeds of up to $1,500,000. Each unit consists of one common share and one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 12 months at a price of $0.10 per share. The private placement is subject to the acceptance of the TSX Venture Exchange.

 

The proceeds of the private placement will be used for the continuing development of Goldex’s El Pato, La Chorrera and El Arco properties located in both Guatemala and Mexico and for general working capital.

 

Charles ROSS, President

GOLDEX RESOURCES CORPORATION

About Goldex Resources Corp

 

Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex’s operations include prestigious, strategically focused projects in both Guatemala and Mexico.

For more information please visit:  www.goldex.ca

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.