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November 20th, 2013, VANCOUVER, B.C. – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT). As a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify our disclosure. The news release provides additional information for sample results from Golden Granite that was missing in the news release of February 19, 2013, as per s 3.2 and 3.3 of NI 43-101.
Also provided is clarifying information for the resource estimate at Golden Zone. Contrary to s 2.2(c), in its September 27, 2013 and November 14, 2013 news releases, inferred mineral resources were added to other categories. Additionally, the November 14, 2013 news release referred to an incorrect news release as the source of the estimate and as such did not provide the required information as noted in s 3.4 (a), (c), and (d).
The Golden Zone gold-silver-copper deposit is located on the south flank of the Alaska Range in the Valdez Creek Mining District, about 12 miles west of the Parks Highway on State of Alaska owned lands. As described in the correct news release of January 20, 2011, Golden Zone is estimated to contain, at a 1.0 g/T Au cut-off, a measured resource of 1,973,915 tonnes (2,171,298 tons) of material averaging 3.41 grams per ton gold (and containing 196,399 ounces of gold), averaging 16.62 g/T silver (and totaling 957,084 ounces of silver) and averaging 0.11% copper (and totaling 2,132 tonnes [2,345 tons; 4,690,000 lbs] of copper). At the 1.0 g/T Au cut-off, an indicated resource of 1,195,416 tonnes (1,314,952 tons) of material averaging 2.37 grams per ton gold (and containing 82,763 ounces of gold), averaging 16.25 g/T silver (and totaling 566,587 ounces of silver) and averaging 0.09% copper (and totaling 1,064 tonnes [1,170 tons; 2,340,000 lbs] of copper) is estimated. At a 1.0 g/T Au cut-off, the measured and indicated resource is 3,169,331 tonnes (3,486,250 tons) of measured and indicated material averaging 3.02 grams per ton gold (and containing 279,166 ounces of gold), averaging 16.48 g/T silver (and totaling 1,523,657 ounces of silver) and averaging 0.10% copper (and totaling 3,233 tonnes [3,556 tons; 7,112,00 lbs] of copper).
David Hedderly-Smith, Ph.D., P.G., and Director of Alix, is a Qualified Person as defined by NI 43-101 and has prepared and approved the information related to Golden Zone that is contained in this release.
The Golden Granite Project is located 112 kilometers (70 miles) northwest of Phoenix along Highway 93. The 518 hectare (1,280 acres) project includes the historic Big Stick Mine, and the Santa Maria – Homestake Mine. Roughly 365 hectares (900 acres) of the property area have been mapped, and twelve composite chip samples were collected over the same area. The mapping has revealed that in detail, the Proterozoic exposures are a mixture of granite, gneiss and schist, often with transitional boundaries between the three lithologies. Younger cover in the area consists of Tertiary volcanic and sedimentary rocks, and Quaternary sediments. Composite chip sampling focused on altered exposures of iron-oxide stained and variably fractured granite. At three locations separated by at least 300 meters, sampling returned 3.29 grams per tonne (g/t) gold over ten meters, 0.30 g/t Au over 27.5 meters, and 0.21 g/t Au over 45.5 meters. Results for composite chip samples exceeding 0.2 ppm Au are listed in the table below.
The samples were submitted to ALS Minerals for sample preparation (Reno, Nevada) and gold assay (North Vancouver, B.C.) using protocol Au-SCR24 in which 1000 g of the sample pulp is passed through a 100 micron square mesh screen to separate the oversize fractions. The +100 micron material is analyzed in its entirety by fire assay with gravimetric finish and the –100 micron fraction is homogenized with two sub-samples analyzed by fire assay with AAS finish (Au-AA25 and Au-AA25D). The gold values for both the +100 and -100 micron fractions are reported with the weight of each fraction as well as the calculated total gold content of the sample. Blanks were also submitted with the samples.
Maps showing the project area with geology as mapped by the Company and sample distribution can be seen at: http://www.alixresources.com/index.php?page=projects&project=8
Dr. Tom E. McCandless, P.Geo., Technical Advisor to Alix and a Qualified Person as defined by NI 43-101, has reviewed the technical information related to Golden Granite that is contained in this release. The Golden Granite property has not been the subject of a National Instrument 43-101 report, and Dr. McCandless has not verified the technical data disclosed in this release for Golden Granite.
Alix Resources is a junior exploration company actively seeking mineral for the benefit of all our stakeholders. For further information we invite you to 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
Neither 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.