Zedex Minerals Ltd (ASX:ZDX) Announce New Pejiru Sector Estimate Increases BAU Gold Resource Inventory To 1.3 Million Ounces

Auckland, Aug 5, 2008 AEST (ABN Newswire) - Zedex Minerals Ltd (ASX:ZDX) (the Company) is pleased to announce that as part of its continuing JORC (2004) upgrade of the Bau Gold Project resource inventory, a re-assessment of the Pejiru deposit has now been completed to include a north-easterly extension of the deposit at Kapor. This assessment has lifted the Pejiru resource to 497,000 oz (up 113,000 oz from the 21 April 2008 estimate). This latest estimate increases the overall Bau resource inventory to 1,304,000 oz of gold.

BAU GOLD PROJECT

The Bau Gold Project in Sarawak, East Malaysia, comprises consolidated Mining and Exploration tenements that collectively cover 828 km2 of the most highly-prospective ground within the Goldfield. Operating intermittently since 1864, the Bau goldfield has recorded 1.5 million oz gold production and estimated historic production of more than 3.0 million oz.

Recent exploration by Zedex has been focussed on the central part of the goldfield, where gold resources have historically been delineated in three deposits (Jugan, Pejiru and Sirenggok), within a few kilometres of one another. Work in progress includes upgrading of resources within these three deposits, as well as the further investigation of known mineralisation within several additional prospect areas.

Zedex holds majority interest and is the operator of the Bau Gold Project Joint Venture.

PEJIRU GOLD DEPOSIT

The Pejiru gold deposit, about 10 km southwest of Bau township and 40 km southwest of the capital city of Kuching, is held under mining certificate MC KD/01/1994.

Pejiru geology is dominated by a broad, NE-SW trending horst structure along the axis of which, an eroded plateau of crystalline Bau Limestone is flanked by deep grabens filled primarily with clastic sediments (Pedawan Shale Member). The Bau Limestone plateau surface is at a remarkably constant elevation of 975m +/-3.21m, suggesting that the plateau has been uplifted and peneplained. The overlying Pedawan Shale has been mostly removed by erosion from the plateau, but is preserved within peripheral grabens and in more localized depressions related to the formation of solution collapse breccias.

Gold mineralisation occurs as locally intense sulphidic carbonate replacements and breccia matrix sulphides along the limestone/shale contact and as irregular quartz-calcite veins hosted within the limestone. The mineralisation control is primarily structural, with most of the mineralisation occurring in NE-SW trending zones, principally where fault/shear structures transect the Pejiru horst block.

The historic database, including the north-easterly Kapor extension, comprises 51,634 metres of drilling in 681 RC holes and 17 diamond cored holes

PEJIRU RESOURCE UPDATE

In July, 2008, Ashby Consultants Ltd (ACL) of New Zealand completed a JORC status update of the previous (21 April 2008) Pejiru resource estimate. Significantly, this most recent update now includes a north-easterly extension of the deposit known as Kapor.

The Pejiru block-modelled resource comprises 10x10x5 metre blocks in an area extending some 7.0 km E-W and 4.5 km N-S. Block gold grades were determined by Inverse Distance Square using search distances derived by variography. The grade/tonnage relationship thus modelled for Kapor is as shown in Table 1 below:

TABLE 1------------------------------------------------Kapor Grade / Tonnage Relationship (above RL 885)------------------------------------------------Grade Cutoff  Tonnes  Grade    Gold (g/t Au)     (Mil.t) (g/t Au) (Mil.oz)         --------------------------------------0.50          2.268   1.906    0.1390.75          1.492   2.585    0.1241.00          1.052   3.341    0.1131.50          0.585   4.941    0.093--------------------------------------

An indicative depth/tonnage relationship for Kapor is shown in Table 2, below:

TABLE 2-----------------------------------------------------Kapor Depth / Tonnage Relationship (@ 1 g/t Au cutoff)-----------------------------------------------------Grade Cutoff  Tonnes  Grade    Gold (g/t Au)     (Mil.t) (g/t Au) (Mil.oz)         --------------------------------------RL 940        0.535   2.815   0.048RL 885        1.052   3.341   0.113--------------------------------------

The Pejiru resource has presently been assigned "inferred" classification only, even though much of the drilling was conducted at 50 x 25 metre grid spacing. This classification is in acknowledgment of the fact that the historic drilling database comprises a mix of RC and diamond drill holes, in which the RC drilling has introduced a degree of uncertainty through sample recovery and lower assay reliability issues. Contingent upon further data analysis and in-fill diamond drilling to resolve these uncertainties, it is anticipated that much of the resource may later be readily amenable to re-classification to "indicated" status.

It is proposed that further step-out drilling will later be conducted to investigate additional mineralisation within en-echelon repeats of the NE-SW trending mineralisation zones and within limestone-hosted solution collapse-breccia structures that are inferred to underlie a number of peripherally mapped topographic depressions.

BAU PROJECT GLOBAL RESOURCE INVENTORY

This latest Pejiru revision lifts the current Bau Project global gold resource inventory to 1.3 M oz. Resource estimates (by sector) are as follows:

--------------------------------------SECTOR           Tonnes  Grade Grade   Cat.     Contained                           (g/t Cutoff           Gold (oz)                 (Mt)      Au) (g/t Au)               ---------------------------------------------------------Jugan (above RL -110m) 7.724   1.68   1.00   Indicated  417,000Jugan (RL-110 to -200m)2.367   1.39   1.00   Inferred  106,000Sirenggok        7.185   1.23   0.75   Inferred  284,000Pejiru           6.634   2.33   1.00   Inferred  497,000---------------------------------------------------------Total:       1,304,000---------------------------------------------------------

BAU PROJECT FORWARD PROGRAMME

The forward programme provides for progressively increasing the Bau Project global resource inventory through drilling of open-ended extensions to the currently modelled (Pejiru, Jugan and Sirenggok) resources and also through continuing exploration of known mineralisation in other prospect areas.

An independent metallurgical consultant has been engaged to determine the most appropriate process method for optimizing gold recovery from the above deposits and from more than 3.5 Mt of auriferous historic tailings that are additionally present within the project area and sampling for metallurgical test-work is planned to commence shortly.

Exploration for additional high-grade resources within the Central Bau Goldfield and elsewhere in Sarawak is also ongoing.

Zedex website: www.zedex.com.au

JORC Statement

The information in this report relating to the Bau Gold Project mineral resource is based on information compiled by John Ashby who is a fellow of the Australasian Institute of Mining and Metallurgy and who is employed by Ashby Consultants Ltd. John Ashby has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to resource estimation to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." John Ashby consents to the inclusion in the report of the matters based on His information in the form and context in which it appears."

Scientific or technical information in this news release has been prepared under the supervision of Rod Murfitt, Chief Geologist of the Company and a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Murfitt has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person, as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr Murfitt consents to the inclusion in this report of the information, in the form and context in which it appears.

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