SOURCE: Matrixx Resource Holdings, Inc.

March 17, 2011 09:15 ET

Sanger Heirs #1 Site Progress

HOUSTON, TX--(Marketwire - March 17, 2011) - Matrixx Resource Holdings, Inc. (PINKSHEETS: MXXH), announced today that the Sanger Heirs #1 site preparation is underway and progressing as planned.

Matrixx has been informed by the operator that the one and one half mile road required to reach the drill site of the Sanger Heirs #1 has been completed and construction of the drilling pad reserve pits are underway. Matrixx has uploaded photos of the prospect on its website at www.mxxh.net. As progress occurs, the Company will continue to upload photos and information from the Sanger Heirs site onto its website. Upon completion of the pad and rig availability, the operator will spud the prospect.

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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