Geologix Explorations Has No Direct Exposure to Asset Backed Commercial Paper

Geologix Explorations (TSX VENTURE:GIX)(FRANKFURT:GF6) would like to clarify
that the Company has no direct exposure to Canadian or other asset-backed
commercial paper (or sub prime mortgages). All Corporate funds are held in Royal
Bank Cashable Guaranteed Investment Certificates (GIC), not commercial paper.


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.


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.