Alix Resources Corp.
TSX VENTURE : AIX
FRANKFURT : 37N

Alix Resources Corp.

June 01, 2012 11:02 ET

Alix Begins 2012 Drilling Programs at Money Rock and West Pogo Gold Projects, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2012) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) announces that it has begun its 2012 exploration and drilling programs at its Money Rock and West Pogo gold projects, located 3.5 kilometers (2 miles) to the west of Sumitomo Metals Corp's Pogo Mine. Sumitomo produces an annual average of just under 400,000 ounces of gold at Pogo (Alaska Division of Geological and Geophysical Surveys Special Report 65, 2011).

Alix's Money Rock/West Pogo ground shares very similar geology to that at Pogo with late Cretaceous Paleozoinc orthogneiss and paragneiss country rocks intruded by late Cretaceous reduced felsic intrusions ranging from tonalites to granites. Previous work at West Pogo identified two zones of gold mineralization from rock-chip grab samples with up to 118.5g/T gold. At Money Rock, reconnaissance sampling has recovered rock grab samples with up to 200 g/T gold. Numerous grab samples with over 1 g/T gold have been obtained from both properties.

Drill targets have been identified through integration of geochemical and/or geophysical data, with a cumulative total of 6,000 feet of core drilling planned for the 2012 season. Geologic mapping and reconnaissance silt, soil, and rock sampling are also planned for the properties, which have seen very limited exploration over their cumulative area of over 21 square miles (5,439 hectares).

"Alix's experienced team of geologists have invested an enormous amount of time poring over data and reports from the Pogo area in Alaska in preparation, and are now very excited to commence the 2012 work program," states President Mike England.

Dr. Tom E. McCandless, P.Geo. and Qualified Person as defined by NI 43-101, has reviewed the technical information contained in this release.

The Company also announces it has granted a total of up to 1,090,000 stock options to directors, officers, employees and consultants of the company, exercisable at a price of $0.10 per share for a period of three years from the date of grant.

Alix Resources Corp. is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders. For further information we invite you to visit us at www.alixresources.com.

ON BEHALF OF THE BOARD

Michael England, President

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.

Contact Information

  • Alix Resources Corp.
    Michael England
    President
    1-604-683-3995 or Toll Free: 1-888-945-4770
    1-604-683-3988 (FAX)
    www.alixresources.com