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

Alix Resources Corp.

April 11, 2012 08:00 ET

Alix Options Golden Zone to Goldspan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 11, 2012) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) announces it has signed a letter of intent on April 5, 2012 with Goldspan Resources Inc. which will allow Goldspan to obtain up to a sixty (60%) ownership interest in the 24,500 acre Golden Zone property in Alaska. The LOI requires Goldspan to spend $3.5 million over the next three years for exploration and development, make cash payments to Alix of $1,000,000, assume the balance of cash and share payments required by Alix to the Owners for full exercise of the Original Option, plus pay an estimated $250,000 for ongoing maintenance fees. The property is located along the south flank of the Alaska Range 15 miles west of the Parks Highway, approximately halfway between the cities of Anchorage and Fairbanks. This transaction is subject to TSX Venture approval.

Alix has an existing option (the "Original Option") on the property which was entered into in September of 2010 with Hidefield Gold Inc. and Mines Trust Company (collectively the "Owners") whereby Alix can earn up to 70% interest in the Golden Zone property.

Alix and Goldspan will enter into a Definitive Option Agreement which, inter alia, will require Goldspan and Alix to obtain the Owners' consent to the assignment of the Alix Option to allow for a direct transfer to Goldspan Resources, Inc.

Once Goldspan has exercised its option, Goldspan and Alix will own 60% and 10%, respectively.

"Doing this deal with Goldspan allows the further advancement of the Golden Zone project enabling Alix to focus its efforts on its Moneyrock project in Alaska" states Alix president Mike England. "Sumitomo's neighboring "Pogo Mine" has been the site of extensive exploration on top of production and we are very excited to concentrate now on our significant claims in the area."

Technical information contained in this release has been reviewed and approved by Alix board member, and Qualified Person as defined by NI 43-101, David Hedderly-Smith, Ph.D.

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

Forward-Looking Statement:

Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Alix Resources Corp. Actual results may differ materially from those currently anticipated in such statements.

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
    Telephone: 1-604-683-3995 / Toll Free: 1-888-945-4770
    604-683-3988 (FAX)
    www.alixresources.com