Geologix Explorations Inc.
TSX VENTURE : GIX
FRANKFURT : GF6

Geologix Explorations Inc.

April 13, 2007 17:31 ET

CORRECTION: Geologix Options OZ Property in Nevada, USA & Reports on Huacullo, Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 13, 2007) -

In the release issued earlier today on behalf of Geologix Explorations Inc. there was an error in the second table. Hole # 06HUA-001 should be from 4.5 to 225.0 for a total of 220.50 metres. The updated release now follows.

Geologix Explorations Inc. (the "Company") (TSX VENTURE:GIX)(FRANKFURT:GF6) is pleased to announce that it has signed an option agreement for the OZ Property located at the intersection of the Getchell and Battle Mountain/Eureka Gold Trends in Humboldt County, Nevada. The OZ property lies south of the Pinson Gold Mine.

The OZ property is located in the midst of some of the most productive gold mines in Nevada: Barrick's Getchell/Turquoise Ridge mines, Newmont's Twin Creeks Mine, Newmont's Lone Tree Mine and Goldcorp Inc.'s Marigold Mine.

Utilizing airborne geophysical surveys and select ground sampling methods, the Company has identified the possible extensions of the mineralized structural trends that have been targeted by drilling at Pinson. The Company intends to test for the same de-calcified and locally silicified zones of mineralization that typify the high-grade feeder structures responsible for the Carlin-style mineralization associated with the Getchell trend. The Company now controls 837 hectares along this highly prospective trend and is planning to drill test the property during 2007.

The Company may earn 100% of the property subject to a 3% NSR by completing a series of escalating payments to the owner of US$995,000 over a period of seven years. There are no work commitments on the property during this period. The Company has the right to purchase two percentage points of the royalty for a payment of US$1,000,000 per percentage point.



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Date Payment amount
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On Signing US$ 5,000
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1st Anniversary $ 25,000
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2nd Anniversary $ 40,000
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3rd Anniversary $ 50,000
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4th Anniversary $ 75,000
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5th Anniversary $ 100,000
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6th Anniversary $ 200,000
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7th Anniversary $ 500,000
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Total US$ 995,000
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HUACULLO PROJECT, PERU

A 10 hole core drilling program has been completed at the 100% owned Huacullo Project in Huancavelica Department, Peru on two targets: the Huacullo Porphyry (6 drill holes - 1778.70 metres); and the Huacullo West High Sulphidation Gold System (4 drill holes - 2916.60 metres). The property has had no previous drill testing.

Huacullo Porphyry Target

Hole #06HUA-001 intersected porphyritic intrusive rocks over its entire length to a depth of 248.45 metres. Assay results from the hole indicated the presence of a gold-copper porphyry system requiring further step out work. Five additional holes were drilled in the Huacullo Porphyry target at 300 metre to 500 metre step-outs to test the size potential of the mineralization located in hole #06HUA-001. The sixth drill hole, Hole #07HUA-010, located 475 metres to the west of hole #06HUA-001, intersected porphyry style mineralization of similar grade to Hole #06HUA-001. The two holes indicate an east-west vector to gold and copper porphyry mineralization.



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Hole # From To Metres Au g/t Cu % Mineralization
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06HUA-001 4.5 225.00 220.50 0.15 0.10 Stockwork/Disseminated
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07HUA-010 112.0 204.45 092.45 0.18 0.11 Stockwork/Disseminated
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The Company is pleased with the identification of a new and previously undrilled gold-copper porphyry system in Peru and is considering a geophysical program on the porphyry to assist in further work and additional drill target generation.

Huacullo West - High Sulphidation Target

Four drill holes were completed in the Huacullo West area located four kilometres east of the Huacullo Porphyry. Drilling targeted a pyroclastic unit which is considered a favourable host rock type for large tonnage gold and silver mineralization. Drilling intersected an up-thrusted structural block limiting the depth of the favourable pyroclastic unit to a depth between 75 metres to 100 metres. Although favourable alteration and mineralization was encountered, the lack of sufficient volume of the favourable stratigraphy to develop a large tonnage deposit does not encourage the Company to further drill test the Huacullo West target.

NATIONAL INSTRUMENT 43-101

The Company's President and CEO, Dunham L. Craig, B.Sc., P. Geo., a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this new release.

All samples have been collected by Geologix's Peruvian field crews in accordance with industry standards and were submitted to ALS Chemex in Lima, Peru. The Company's President, Dunham L. Craig, B.Sc., P.Geo., a 'qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the data disclosed in this news release including sampling, analytical and test data. Sample analysis was completed by ALS Chemex Laboratory Services Limited of Lima, Peru and Vancouver, British Columbia. Samples were fire assayed for gold, with AA finish; results for other elements used the ICP procedure.

ABOUT THE COMPANY

Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing gold properties in North and South America. The Company has a wealth of experience in the mining industry taking early stage exploration prospects to final feasibility and ultimately to production.

FORWARD-LOOKING STATEMENTS

This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Geologix Explorations Inc.
    Michael Mallard
    V.P. Corporate Communications
    (604) 694-1742 or Toll Free in Canada and US: 1-888-694-1742
    Email: mmallard@geologix.ca
    or
    Geologix Explorations Inc.
    Dunham Craig
    President & CEO
    (604) 694-1742 or Toll Free in Canada and US: 1-888-694-1742
    Email: dcraig@geologix.ca
    Website: www.geologix.ca