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Alix Receives TSX-V Acceptance For The Kamishak Property Agreements
ALIX RECEIVES TSX-V ACCEPTANCE
FOR THE KAMISHAK PROPERTY AGREEMENTS
February 28, 2008, VANCOUVER, B.C. – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N – FRANKFURT) is pleased to announce that it has received the acceptance of the TSX Venture Exchange in connection with the following two agreements regarding the acquisition of the Kamishak Property in Alaska.
- An option agreement between the Company and Alaska Earth Resources Inc. (“AERI”) whereby the Company has been transferred an option to acquire a 100% interest in the Kamishak Property located in the Lake Iliamna region of Alaska. As consideration for this agreement, the Company must pay AERI US$60,000 payable in US$20,000 installments on March 1, 2008, 2009 and 2010. The Company must also issue AERI 100,000 shares of the Company upon the signing of the agreement and an additional 500,000 shares of the Company upon completion of a feasibility study. The Company must incur an aggregate of US$1,300,000 in exploration expenses on the property by December 31, 2010.
- An assignment agreement between Full Metal Minerals Ltd. (“FMM”), and the Company, its wholly owned subsidiary Alix (Alaska) Inc., Andover (Alaska) Inc. and AERI whereby FMM has agreed to transfer 100% of their rights in the Property to the Company. As consideration, the Company has issued 500,000 Company shares to FMM upon receipt of TSX-V acceptance and must issue an additional 100,000 Company shares on or before October 31, 2008 and 150,000 Company shares on or before October 31, 2010.
For further information we invite you to visit us at www.alixresources.com.
Alix is a junior mineral exploration company focused on acquiring potential world class properties in North America.