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News Release

Alix Resources Drill Results Include 20.44g/T Gold Across 0.74 Metres, 15.67g/T Gold Across 1.25 Metres and 4.00g/T Gold Across 12.0 Metres

ALIX RESOURCES DRILL RESULTS INCLUDE 20.44g/t GOLD ACROSS 0.74 METRES, 15.67g/t GOLD ACROSS 1.25 METRES AND 4.00g/t GOLD ACROSS 12.0 METRES

September 18, 2008, VANCOUVER, B.C.ALIX RESOURCES CORP. (AIX-TSX:V) (37N – FRANKFURT) with partner Bolero Resources (BRU – TSXV) announce the following update on the drilling report  received from consultants on the Arcadia Bay project located on the Arctic Ocean in Canada's Nunavut, west of Bathurst Inlet and 140 kilometres west of Miramar Mining's Hope Bay greenstone belt.

Assay results have confirmed that the high grade zone intersected in historic holes G88-3, G89-07,08,10 is continuous over at least 100m on a northeast-southwest trend, and is still open to the north.

The goals of the 2008 drilling at the Arcadia Bay GH Zone were two fold,

  1. To test the southern extent of D3 veins as recommended by Jones and Baker(2007).
  2. To extend the zone of high grade mineralization intersected in G88-3 to the north and to the south along strike.

Five drill holes were collared. A total of 263 split core samples were taken for assay and geochemical analysis, comprising approximately 60% of the total core drilled. All analysis for the 2008 Arcadia Bay drilling were carried out by TSL labs in Saskatoon. All samples were fire assayed for Au using a 50g aliquot. Trace element ICP analysis was also carried out.

Hole 08ARC-03 intersected significant mineralized quartz-carbonate veining between 90.98-97.83m. Fire assay gold results for this intersection yielded 6.70g/t gold over 6.85m including 15.67g/t over 1.25m. When anomalous gold numbers in the surrounding tonalite are included it yields 4.00g/t gold over 12.0m. A deeper intersection of strongly foliated tonalite also yielded 1.08g/t over 3.0m from 111.0-114.0m.

In hole 08ARC-05 a zone of 0.86g/t gold over 4.5m was seen in tonalite containing a couple of 30cm, and several smaller quartz veins from 68.50-74.50m. As well the deeper quartz vein corresponding to the high grade zone seen in 088ARC-03 graded at 20.44g/t gold over 0.74m.

Hole 08ARC-04 did not intersect the high grade zone seen in 08ARC-03 but did hit an 8m zone of 1.09g/t from 92.50-100.50m, in weakly hematite altered tonalite. This could be the same zone as the deeper mineralization seen in 08ARC-03.

Holes 08ARC-01 and 08ARC-02 showed little gold mineralization, with the exception of a sample near the bottom of 08ARC-02 that assayed at 4.73g/t gold. The sample was in hematite stained tonalite containing one 5cm wide, and a couple of smaller, quartz veins. This has effectively established the southern extent of the GH zone.

Gold fire assay results for the 2008 drill holes yielded some encouraging intersections, which are summarized in the table below.

Hole Id From To Interval (m) Au (g/t)
08ARC-02 95.50 97.00 1.50 4.73
08ARC-03 90.00 102.00 12.00 4.00
including   90.98 97.83 6.85 6.70
and 94.00 95.25 1.25 15.67
08ARC-04 92.50 98.50 6.00 1.24
08ARC-05 70.00 74.50 4.50 0.86
  106.89 107.63 0.74 20.44

 

Most of the quartz vein intersections were intersected at approximately 45 degrees to the core angle so therefore true widths will be approximately 0.7 times the “intervals”.

A total of 16 historic drill holes have tested the GH Zone. The most significant drill intersection occurs at the north end of the GH Zone within drill hole G88-3, at a depth of 88.7 metres the hole intersected 12.0 g/t Au over 13.0 metres.

During 1989 a four-hole fan (G89-7, 8, 9, 10) was drilled perpendicular to hole G88-3 and provided a second high grade intersection of the same mineralized zone. At a depth of 88.25 metres drill hole G89-7 (212az/-70) intersected 23.4 ppm Au over 5.6 metres (1 oz/t cutoff).

The steepest of the four drill holes, G89-10, intersected significant mineralization near surface at a depth of 9.53 metres which returned assays of 47.6 ppm Au over 1.27 metres (no cutoff, interval consists of 3 samples containing greater than 1oz/t Au). A second mineralized intersection at depth within G89-10 returned 7.2 ppm Au over 5.45 metres, and is interpreted to correspond with high grade intersections within G88-3 and G89-7.

The property has a historic resource estimate of 640,650 tonnes averaging 7.2 grams per tonne gold (containing about 148,000 ounces of gold) in the north-central vein and 139,524 tonnes averaging 8.6 g/t gold (or 38,600 contained ounces of gold) in the Fred vein reported. These resource estimates were completed prior to 2001 and without a compliant technical report and in a manner inconsistent with National Instrument 43-101 and other disclosure requirements. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

The technical contents of this release were approved by Alix Resources advisory board member and qualified person as defined by National Instrument 43-101, Marvin Mitchell, P.Eng.

For further information we invite you to visit us at www.alixresources.com.

Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders.

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