De Beers and Gedex Inc. Sign Strategic Agreement

Geschrieben am 28-06-2006

Toronto and Johannesburg, South Africa (ots/PRNewswire) - Gedex
Inc., a private Canadian corporation, has completed a strategic
agreement with De Beers, the world's largest diamond mining group,
which will assist in the commercialisation of Gedex's new resource
exploration technology.

De Beers has contracted with Gedex to use its unique and
proprietary high definition airborne gravity gradiometer (HD-AGG(TM))
system in exploration surveys and to provide related services over
several years.

"De Beers is committed to using leading edge technologies in the
exploration for diamonds. We believe the Gedex AGG has the potential
to make a material difference in our ability to identify new
resources," said Bill McKechnie, Director, Group Exploration, De

Demand for resources is rising and making new discoveries is
increasingly difficult. Gedex's HD-AGG could make a great
contribution to increased exploration success due to its anticipated
high signal resolution and capability to operate at high productivity

"We are working with the mining, oil and gas industries to reduce
risk, cost and lead-time for new discoveries, while sharply enhancing
the certainty of discovery," said Gedex's President and CEO, Robbie
Banks. "Our airborne HD-AGG will provide significant benefit and a
strategic advantage for resource companies."

Gedex's system will provide unparalleled deep, sub-surface
information by measuring minute density differences in rock
formations in prospective areas. It can be used to discover new
resources including diamonds, gold, silver, coal, uranium, copper,
zinc, nickel, iron, and aluminium, as well as oil and gas. The system
"sees" through water and is environmentally friendly - it can fly
safely over sensitive and difficult areas without affecting wildlife
or the natural environment.

A Unique New System

Current commercial gravity gradiometry evolved from US military
programs in the 1970s. When development is completed, Gedex's HD-AGG
system is expected to be the world's highest resolution and fastest
system available for airborne surveys. It rapidly and effectively
measures minute gravity differences that are key to identifying
important geological structures. Exploration teams will clearly image
sub-surface anomalies from data that can pinpoint resource deposits
from near surface to many kilometres deep into the earth.

Gedex's system combines technologies developed by the University
of Maryland, the Canadian Space Agency, the University of Western
Australia, and Gedex's development team.

Private Placement

Gedex is raising private equity capital for further development.
Part of the proceeds from this financing will be used to complete the
engineering required to operate the HD-AGG system in a stabilised,
airborne environment.

Gedex plans to commercialise the system, which is thoroughly
protected by comprehensive patents and licenses, in 2007.

About Gedex, Inc.: Gedex is a private company incorporated in 1999
and headquartered in Mississauga, Canada. Gedex's new gravity
gradiometer product will provide images of subsurface density that
will, independently and in conjunction with other data, provide
valuable information to engineers and geologists exploring for and
delineating subsurface resources and structures. HD-AGG also has
military, government, sovereignty, space, ground water, and other

Gedex was founded by its chairman Bill Breukelman, who was also a
founder of IMAX, now a worldwide entertainment enterprise, and Sciex,
an integral part of global life sciences company, MDS.


ots Originaltext: Gedex Inc.
Im Internet recherchierbar: http://www.presseportal.de

George Soteroff, Senior V.P. Corporate Affairs, Telephone:
+1-905-281-0766, Ext. 1204, Mobile: +1-416-434-9678,


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