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.