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

Alix Resources Corp.

July 11, 2011 09:00 ET

Alix Mobilizes Drill to Golden Zone Property, Alaska, for 2011 Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2011) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) is pleased to announce that the mobilization for its 2011 drill program at the Golden Zone gold-silver-copper property in the Valdez Creek Mining District in south-central Alaska is underway.

The Golden Zone property consists of the Golden Zone Breccia Pipe and several other intrusion-related gold-silver-copper prospects and showings. Alix recently announced the release of a revised resource model and N.I. 43-101 compliant resource estimate for the Breccia Pipe by Norwest Corporation (see Alix News, January 20, 2011) indicating the deposit to contain, at a 1.0 g/T cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated resource averaging 3.02 grams per ton and containing 279,166 ounces of gold, 1,523,657 ounces of silver and 3,233 tonnes (3,556 tons) of copper.

The geologic crew moved into the property the first week of June and for the past month has been reviewing historic data and re-mapping geology and hydrothermal alteration to refine specific drill targets at several prospects on the property. The camp crew has the 25-man camp fully operational, and a 1200-foot airstrip has also been constructed near the camp. The first phase of a year's baseline environmental water sampling in anticipation of upcoming permitting requirements for the project has also been completed.

The 2011 drilling contract with Core-One Drilling Inc. of Delta, Colorado, calls for a minimum of 1500 meters of HQ core drilling; Alix anticipates drilling 2500 meters or more on the property this summer with $1.5 million currently budgeted for the 2011 Golden Zone program. A deep hole is intended to test the area beneath the Breccia Pipe from which the gold-silver-copper deposit is presumably sourced. Moderate to deep drill holes (200 to 400 meters) are planned for at least two and likely three prospectively large-tonnage "porphyry-type" gold-silver-copper targets on the property. Several other drill holes will target a number of smaller but potentially higher grade targets that could provide additional exploitable resources to the property's current resource base. The geologic crew will also conduct reconnaissance geologic mapping and soil and stream sediment sampling programs to identify other target areas on the 9,700 hectare (24,000 acre) property. A preliminary economic assessment/prefeasibility study on the existing resource is planned for the winter of 2011-2012.

Alix's 2011 program will be directed by David Hedderly-Smith, Ph.D, P.G., who is a Director of Alix and a Qualified Person as defined by NI 43-101 and who also prepared and approved the geological and technical information contained in this release. "We really feel that the Golden Zone hasn't been given its due as one of Alaska's highly prospective gold resource areas. We believe that in addition to the established resource here we have some great targets, and we are looking forward to testing some of them this year," said Dr. Hedderly-Smith. Hedderly-Smith will be aided by Dr. Charles C. Hawley, another Alix Director. Dr. Hawley has been associated with the development of the Golden Zone property for nearly 40 years.

"To date the 2011 Golden Zone program has gone well and is on schedule and under budget," said Michael England, President and CEO of Alix. "But we are excited at the prospect of the drill's arrival, and we are looking forward to announcing the results of this year's drill program as they come in."

Alix Resources Corp. is a junior exploration company actively seeking mineral and energy 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
    604-683-3988 (FAX)
    www.alixresources.com