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Alix Increases It's Land Position At Money-Rock Near The Pogo Mine In AlaskaALIX INCREASES ITS LAND POSITION AT MONEY-ROCK NEAR THE POGO MINE IN ALASKA
February 25, 2010, VANCOUVER, B.C. - ALIX RESOURCES CORP. ("Alix" or the "Company") (AIX-TSX:V)(37N - FRANKFURT) announces it has increased its land position at the Money-Rock gold property in the Goodpaster Mining District of Alaska. The new property is contiguous with the southern portion of the Money-Rock Property, increasing the land position to 2,560 acres (1,036 hectares) of State of Alaska mining claims from the 1,920 acres acquired previously (Alix News Release, August 5, 2009). Collectively the Money-Rock claims border claims held by International Tower Hill Mines and are adjacent to claims owned by Sumitomo's Pogo gold mine and less than 3.0 miles from the Pogo mine portal. An image of the property position can be accessed at www.alixresources.com.
State of Alaska geologists have mapped the same gneiss unit at the Pogo mine as also underlying significant portions of the Money-Rock property. The Money-Rock property has never been drilled and has only limited surface geochemical sampling. A new geochemical soil-sampling and geological reconnaissance program was launched in fall 2009 and results are being reviewed with the goal to identify target areas for drilling in Q2 2010.
Under the terms of the LOA, Alix has an option to earn 100% interest in Money-Rock by making cash payments totaling $210,000 over five years and 180,000 shares over three years. The option is subject to a 2% NSR to the vendors. The NSR can be reduced to 1% for $1M US.
The Company further wishes to announce the resignation of Mr. Jay Oness from the Board of Directors and in his place welcomes Mr. John Masters.
Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders. For further information please visit us at www.alixresources.com.
ON BEHALF OF THE BOARD
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Alix Resources, Corp. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.