TORONTO, Oct. 13 /CNW/ - Canadex Resources Limited ("Canadex") (TSX: CDX) announced today that, as previously disclosed in its press release of September 30, 2005, Canadex has been delayed in filing its annual financial statements (and annual Management's Discussion & Analysis related thereto) for the year ended June 30, 2005. As a result of such delay Canadex voluntarily requested, and on October 4, 2005 the Ontario Securities Commission issued, a temporary order that prohibits, effective immediately, certain directors, officers and insiders of Canadex from directly or indirectly trading in securities of Canadex. The delay in filing its annual financial statements results from delays in obtaining relevant financial information from Teddy Bear Valley Mines, Limited ("Teddy Bear"). Canadex is the owner of approximately 49% of the outstanding shares in the capital of Teddy Bear and requires this information to complete its financial statements. The delays on the part of Teddy Bear result from a recent change in the senior management at Teddy Bear. Canadex is actively working with Teddy Bear to resolve this issue.