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AIX

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Share Name Share Symbol Market Type
TSXV:AIX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Alix Increases Land Position at Sheslay

14/02/2014 10:01am

Marketwired Canada


ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N)
announces it has acquired additional claims in the highly prospective Sheslay
Valley region of northwestern British Columbia. The Halt claims cover 993
hectares and were acquired from a third party vendor, and additional mineral
tenures totaling 2,193 hectares were also staked by the Company. Collectively,
the new acquisitions will be called the Sheslay South Fork Project, which lies
east of and contiguous to a large land position held by Teck Resources Ltd., and
southeast of claims that were previously acquired by the Company (see news
release, February 5, 2014).


The Halt claims cover two Minfile showings, the VI and the Halt prospects. The
Halt showing is reportedly underlain by upper Triassic Stuhini Group dacite and
andesite, which have been silicified and weathered (Geological and Geochemical
Report on the Halt Property, 1982, Minfile #10423, 27p.). The VI showing is also
underlain by upper Triassic Stuhini Group feldspar porphyry, augite porphyry
basalt flows, tuff and argillite that have been intruded by a late Triassic and
early Jurassic diorite to granodiorite stock (1990 Geological and Geochemical
Report on the JC1-5 Claims, 1991, Minfile #21209, 36p.). The newly-staked claims
are located to the south of the Halt showing, covering southerly tributaries of
the Tahlian River. These claims enclose several British Columbia government
regional stream sediment sample locations that are anomalous in gold (greater
than 11ppb Au).


"We are very excited to have acquired these claims in a rapidly emerging
copper-gold porphyry district with two discoveries in the last four months,"
stated Mike England, President of Alix Resources. "We are presently reviewing
historical data for the project, and we anticipate an active exploration program
in the coming field season as portions of the Halt claims are road-accessible
via the old Golden Bear Mine access road. Alix is also assessing additional
possible acquisitions in the Sheslay Valley, an under-explored region that will
be a major focus of exploration in British Columbia in 2014."


Purchase price of the Halt Property, from an arm's-length vendor, is $200,000
and two million shares, over three years for a 100% interest, less a 1% Net
Smelter Royalty (NSR), that can be purchased at the Company's option for $1.0
million. Purchase price of the newly-staked claims, from a non arms-length
vendor, is three million shares. 


The Company further announces that it has arranged a non-brokered private
placement of 10 million units ("Units") at a price of $0.05 per Unit for
aggregate gross proceeds of $500,000 (the "Offering"). Each Unit will be
comprised of one common share ("Share") and one Share purchase warrant of the
Company ("Warrant"). Each whole warrant entitles the holder to purchase an
additional share at a price of $0.06 per share for a period of 12 months.
Proceeds will be used for the Company's short term payables and for general
working capital. 


The private placement is subject to TSX Venture Exchange acceptance. 

Finder's fees may be payable on the private placement, subject to the policies
of the TSX Venture Exchange. 


The technical contents of this release were approved by Tom E. McCandless,
Ph.D., P.Geo., technical advisor to Alix and a qualified person as defined by
National Instrument 43-101. The properties have not been the subject of a
National Instrument 43-101 report, and Dr. McCandless has not verified the
technical data disclosed in this release.


Alix Resources is a junior exploration company actively seeking mineral
opportunities for the benefit of all our stakeholders. For further information
we invite you to visit us at www.alixresources.com.


ON BEHALF OF THE BOARD

Michael England, President

Neither 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alix Resources Corp.
Michael England
President
Telephone: 1-604-683-3995 or Toll Free: 1-888-945-4770
www.alixresources.com

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