SOURCE: Matrixx Resource Holdings, Inc.

September 01, 2010 11:19 ET

Matrixx Resource Holdings, Inc. Announces the Addition of Tom Gouger and Hal Basham to Its Advisory Board

HOUSTON, TX--(Marketwire - September 1, 2010) -  Matrixx Resource Holdings, Inc. (PINKSHEETS: MXXH) is pleased to announce the appointment of Tom Gouger and Lt. Colonel Hal Basham to Matrixx's Advisory Board.

Tom Gouger brings to Matrixx over 35 years of dedicated experience from all aspects within the oil and gas industry. Mr. Gouger is proficient in all aspects of land work from obtaining leases, clearing titles, administration and contracting joint operating agreements. In 1995, Mr. Gouger started and is the present President and Owner of Tejones Operation Company, a successful oil and gas operator in South Texas. Mr. Gouger and Tejones Operating Company are proficient in operations, workovers, re-entries and new drills. Mr. Gouger has participated in either as operator or non-operated interest capacity in over 200 wells in South Texas, the Gulf Coast, Oklahoma, Wyoming and West Texas.

Also joining Matrixx's Advisory Board is Lt. Colonel (Ret. USAF) Hal Basham. In addition to his decades of service to the US Air Force Reserves, Lt. Colonel Basham has spent the last 30 years as a petrochemical and uranium geologist. After receiving his Bachelor of Science degree from Texas A & I, Lt. Colonel Basham worked for United States Steel Corporation ("USX") as a petrochemical and uranium geologist. While at USX, he performed such functions such as prospect generation and package development, prospect sales to investors, daily functions with petroleum engineers, daily supervision of uranium drilling rigs, identification of lithology on drilling samples, and lease negotiations. Subsequent to U.S. Steel, Lt. Colonel Basham received his M.S. from Texas A & I in Geology and continued to work in many capacities as a geologist with firms such as Douglas Petroleum, Palis Oil and Gas, and multiple stints with BNP Petroleum Corp. While at BNP, Lt. Colonel Basham presided over or participated with geological reports for Petro-Well Data LTD in New Orleans, 3-D seismic for Palis Oil and Gas, Bishop Petroleum on an 11,000 acre development project in Refugio, Texas. Additional work included prospect sales for Freeman Oil and Gas, technical support to BNP geophysical engineers, SMT 3-D Seismic computer system, LandMark 3-D Seismic computer system for BNP, exploration on behalf of BNP on 46,000 acres on and about Padre Island and surrounding waters.

With the addition of Ms. Spradling as a joint partner, and the inclusion of Messrs. Gouger and Lt. Colonel Basham on the Advisory Board, Matrixx has begun to position itself with professionals and experience ranging from drilling, operations, and geology. The Company believes it is now positioned to move forward with its current prospects and continue to seek additional projects to accelerate its plan of operations.

Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Matrixx to complete the proposed acquisition(s), the results of Matrixx's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of Matrixx to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

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