TMX group

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.