TMX group

TORONTO, Oct. 31 /CNW/ - Canadex Resources Limited ("Canadex") (TSX: CDX)
announced today that, further to its press releases of September 30, 2005 and
October 13, 2005, the temporary order issued by the Ontario Securities
Commission ("OSC") at Canadex's request that prohibits certain directors,
officers and insiders of Canadex from directly or indirectly trading in
securities of Canadex, has been replaced with a permanent order. This
permanent order will remain in place until two full business days following
the receipt by the OSC of all filings that Canadex is required to make under
Ontario securities laws.
As previously disclosed, the orders have been issued as a result of
Canadex's delay in filing its annual financial statements (and annual
Management's Discussion & Analysis related thereto) for the year ended June
30, 2005.
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.