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June 9, 2010, VANCOUVER, B.C.– ALIX RESOURCES CORP. (“Alix” or the “Company”)(AIX-TSX:V)(37N – FRANKFURT) is pleased to announce that an Option Agreement has been signed for the Money Rock Property, located in the Goodpaster Mining District of Alaska. The option agreement is with Precious Metals Exploration Corporation (“PMEC”), a privately-held corporation headquartered in Gothenburg, Sweden.
The Money Rock Property consists of claims totalling 1,036 hectares (2,560 acres) positioned less than five kilometres (3 miles) from the portal of the Pogo Mine operated by Sumitomo Metal Mining Company. In October 2009, Sumitomo Metal Mining Company announced the production of its millionth ounce at the Pogo Mine, whose geology is similar to that which underlies significant portions of the Money Rock Property. The Money Rock Property has never been drilled and has only seen very limited surface sampling. Alix has designed a program of tightly-spaced geochemical soil and stream sediment sampling that is scheduled to begin early in the third quarter of 2010.
Under the option agreement, PMEC can acquire 60% of the company’s interest in the property by paying to Alix US$50,000USD upon signing plus $100,000USD after a 60-day due diligence period and incur $500,000USD in work expenditures over a three year period. Additionally, Alix will receive four instalments of 250,000 shares of the public vehicle that PMEC intends to form to conclude the transaction. In the event PMEC does not form the public company, it will pay four instalments of $50,000USD in lieu of shares.
Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all of its stakeholders.
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.