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June 13th,
2008, VANCOUVER, B.C. - ALIX RESOURCES CORP. ("Alix"
or the "Company") (AIX-TSX:V)(37N - FRANKFURT) and GEO MINERALS LTD.
("Geo")(GM-TSX:V) have signed an agreement with General
Resources Inc, a private Saskatchewan company, to obtain the exclusive
potash rights to a total of 84 assorted locations of freehold minerals in
highly prospective potash areas of Saskatchewan. These properties total
approximately 14,000 acres.
Included in this
package are approximately 4,200 acres of land located 20 kilometers west
of the town of Esterhazy, and approximately 25 kilometers west of
the operating Esterhazy K1 and K2 underground potash mines owned by
Mosaic Potash Esterhazy.
Also included are 640 acres in Manitoba along the border of Potash North
Resource Corp (PON-TSX: V) and located approximately 20 kilometers
north-east of Potash Corporation (POT - TSX) of Saskatchewan's Bredenbury
potential Greenfield Potash Mine.
President Mike
England states "We are delighted that we have been able to assemble
this exceptional package of properties as part of our stated objective of
creating value for all of our stakeholders. We will be providing more
details, including maps and any historical data, as we obtain them."
Alix and Geo are now
approaching neighboring stake holders to assemble larger land packages.
In addition, the companies will be researching the database of historic
drilling maintained by the Saskatchewan government and other agencies to
gather any historical data available with respect to the lands contained
in this agreement.
Deal terms:
A combined total of
600,000 common shares, $100,000, 60,000 warrants are payable over the two
year term, evenly divided by both Geo and Alix. A 5% royalty has been
granted to the vendor as well.
A finders fee will be
payable in accordance with the rules of the TSX Venture Exhange.
This transaction is
subject to TSX Venture Exchange approval.
For further
information we invite you to visit us at www.alixresources.com.
Alix is a junior
mineral exploration company focused on acquiring and developing potential
world-class properties in North America.
ON BEHALF OF
THE BOARD
Signed "Michael
England"
Michael England, President
FOR FURTHER
INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 - Toll Free: 1-888-945-4770
Facsimile: 1-604-683-3988
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The TSX Venture Exchange has
not reviewed nor does it accept responsibility for the adequacy or
accuracy of this press release.
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