Alix Clarifies Details On Two Alaska Acquisitions Near The Pogo PropertyALIX CLARIFIES DETAILS ON TWO ALASKA ACQUISITIONS NEAR THE POGO PROPERTY
March 3, 2010, VANCOUVER, B.C. - ALIX RESOURCES CORP. ("Alix" or the "Company") (AIX-TSX:V)(37N - FRANKFURT) wishes to clarify details of the two separate agreements made for properties located in the Goodpaster Mining District of Alaska, near the Pogo Mine of Sumitomo Metal Mining Company (the "Pogo Mine").
Under the first LOA announced on August 5, 2009, Alix has an option to earn a 100% interest in two gold properties (the "First Property", improperly referred to as the "Pogo Property" in Alix's February 25, 2010, news release), located one-half mile apart in the Goodpaster mining district of Alaska. Terms of this deal have Alix making cash payments totaling USD$210,000 over six years and issuing 180,000 common shares over three years. The option is subject to a 2% NSR payable to the vendor. The NSR can be reduced to 1% for USD$1,000,000.
The second property (the "Second Property"), announced on February 25, 2010, is contiguous with the southern portion of the First Property, with Alix having an option to earn a 100%interest in the Second Property by making cash payments totalling USD$245,000 over six years and issuing 280,000 common shares (rather than 180,000 common shares as previously disclosed) over five years. The Second Property is subject to a 2.5% NSR payable to the vendor, which can be reduced to 1.5% for USD$1,000,000.
Alix now refers to the First and Second Properties collectively as the Money-Rock claims.
In total Alix now has options on claims covering 2,560 acres (1,036 hectares) roughly three miles (five kilometers) west of the Pogo Mine.
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:
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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.