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

Alix Resources Corp.

November 11, 2015 08:00 ET

Alix and Lithium Australia Sign Proposal for Joint Development of Lithium Extraction Technology

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2015) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX) (FRANKFURT:37N) is pleased to announce it has executed a memorandum of understanding with global lithium developer Lithium Australia NL ("LIT") (ASX:LIT), whereby it is anticipated the two companies will work jointly to develop certain technologies pertaining to commercially viable lithium extraction solutions as well as progress Alix's newly acquired lithium concessions (the Electra project) located in Sonora, Mexico.

To view the project map, please visit: http://media3.marketwire.com/docs/1032346figure1.jpg

The concessions held by Alix cover interpreted strike extensions of the Sonora Project, operated by Rare Earth Minerals Plc and Bacanora Minerals Ltd.

LIT and Alix believe that a combination of low-grade material and energy inefficient processing systems have historically hindered lithium clay deposits from being commercialized. LIT has successfully extracted lithium from micas through the implementation of alternative, low-energy processing techniques and has been successful in producing lithium carbonate from unconventional silicate feed material. Some of the materials previously tested by LIT are suspected to bear a similar mineral chemistry to the mineralization at the Sonora Lithium Project and Alix's Electra Project.

Alix President and CEO Mike England:

"We are excited at the prospects of working with Lithium Australia and their team in relation to the development of mineral exploration opportunities for lithium in Sonora in tandem with the potential testing and demonstrating of innovative, new technologies for lithium extraction."

Adrian Griffin, LIT Managing Director:

"We see great potential in developing processing hubs to take advantage of infrastructure and markets. Clearly Europe and Australia have commanded much of our attention, and will continue to do so, but North America is likely to become the powerhouse of the lithium business. The opportunity to evaluate ground next door to Bacanora's Sonora Project is a major advance for Lithium Australia. The deposits in this region have already sparked the attention of Tesla as feed for the Gigafactory, which is close in comparison with other developed deposits. Providing a low-energy, cost effective alternative to less efficient processing systems may create a big advantage for these deposits.

Lithium Australia is pleased to be working in conjunction with Alix to develop a better processing alternative."

About Alix:

Alix Resources (TSX VENTURE:AIX) is a lithium exploration company focused on the exploration of its recently acquired Electra Project, which consists of two large exploration concession applications covering 22,625 hectares adjoining Bacanora Minerals Ltd. and Rare Earths Minerals PLC (REM)'s Sonora Lithium Project in Mexico.

About Lithium Australia NL:

LIT is a dedicated developer of disruptive lithium extraction technologies. LIT has strategic alliances with a number of companies, potentially providing access to a diversified lithium mineral inventory on three continents.

LIT and Alix entered into the MOU to explore the collectively engaging in potential joint business opportunities in the areas of:

  1. the exploration of lithium from Alix's mineral concessions located in Sonora, Mexico;
  2. developing superior means of recovering lithium from these, and similar lithium clay deposits; and
  3. commercialization of environmentally friendly mineral extraction and processing technologies for lithium brine.

LIT and Alix will pursue entering into a definitive joint venture agreement within 3 months from the date of execution on the MOU.

Indicative Commercial Terms

Alix will carry out initial geological assessment of geological samples of clays including hectorites (the "Samples") and deliver them to LIT or to a metallurgical laboratory nominated by LIT.

LIT will conduct the necessary work to produce a report summarising the work completed and the potential business opportunity. If the report demonstrates business potential, LIT will then produce a commercial development proposal that summarises a high level road map for the exploitation of lithium, potassium and other metals from the Samples.

LIT will carry out bench scale laboratory testing and full chemical analysis of the Samples, and share all results with Alix. If warranted, LIT shall carry out small scale pilot testing and provide a detailed financial and metallurgical report to Alix. LIT shall investigate and develop solutions using the Samples. All of the work to be carried out by LIT above are collectively the "LIT's Works."

The rights and obligations of LIT and Alix with respect to the Concessions and the Intellectual Property thereafter shall be set out in the Definitive Agreement. Percentage interests and milestones may be modified as mutually agreed. The arrangement will be subject to mutual due diligence investigations and any required regulatory approvals.

The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101 and Director of Alix Resources. The properties have not been the subject of a National Instrument 43-101 report.

ON BEHALF OF THE BOARD,

Michael England, President, CEO, Director

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.

Contact Information

  • Alix Resources Corp.
    Michael England
    President, CEO, Director
    Telephone: 1-604-683-3995
    Toll Free: 1-888-945-4770