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GIX Geologix Explorations (delisted)

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Share Name Share Symbol Market Type
Geologix Explorations (delisted) TSXV:GIX 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 -

Geologix Explorations Inc.: San Agustin Step Out Drilling Intersects; 36.05 Metres of 0.73 g/t Au, 161.67 g/t Ag, 1.18% Pb, 0.45

21/08/2008 12:30pm

Marketwired Canada


Geologix Explorations Inc. (the "Company") (TSX
VENTURE:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(STUTTGART:GF6)(MUNICH:GF6) is pleased to
announce a step out hole northwest of Zone 2 has intersected a zone of
significantly higher grade silver than previously seen in drilling at the San
Agustin Project in Durango State, Mexico. Please visit the Company's website at
www.geologix.ca for an updated plan map or view the following PDF link:
http://www.geologix.ca/i/pdf/2008-08-21-NR.pdf.


Dunham L. Craig, President and CEO, stated: "As well as expanding the deposit
perimeter, drilling has discovered what we feel to be a higher grade structural
feeder zone. Evaluations of ongoing property exploration activities indicate San
Agustin may host more than one of these geological environments. SA-221 is our
furthest deposit step out drill hole to the northwest, and again adds potential
for resource expansion.


The company's press release regarding the San Agustin resource in June, 2008
included a Zone 2 width of approximately 200 to 250 meters. Subsequent drilling
has increased the width to approximately 600 meters and it is still open."




-------------------------------------------------------------------------
San Agustin Assay Results (Phase III) DH SA-221
-------------------------------------------------------------------------
                                                                     Aueq
Hole                  From      To  Length    Au     Ag    Pb    Zn   g/t
#        Zone           (m)     (m)     (m) (g/t)  (g/t)    %     %    (i)
-------------------------------------------------------------------------
SA-221   Zone 2      17.00  194.00  177.00  0.37  48.47  0.40  0.43  1.83
-------------------------------------------------------------------------
         inc.        21.95   58.00   36.05  0.73 161.67  1.18  0.45  4.45
-------------------------------------------------------------------------
         inc.        92.95  124.40   31.45  0.32  41.47  0.50  0.85  2.22
-------------------------------------------------------------------------
                    214.00  267.00   53.00  0.36  13.71  0.04  0.57  1.19
-------------------------------------------------------------------------
                    286.20  317.00   30.80  0.19   5.30  0.05  0.52  0.86
-------------------------------------------------------------------------
                    359.00  373.65   14.65  0.16   3.78  0.01  1.13  1.46
-------------------------------------------------------------------------
(i) Gold Equiv is based on contained metal and estimated using commodity 
    prices based on a four year rolling average for all metals ($USD) and 
    recoveries of: Gold -- $559.74/oz and 95%, Silver -- $10.17/oz and 
    87%, Lead -- $0.69/lb and 91%, and Zinc -- $1.04/lb and 92%.



Drill holes in Zone 2 and the Main Zone (Table below) are expanding the resource
for a 2nd resource calculation in late September/early October. In addition to
expansion on the perimeter and depth, drilling between Zone 4 and the Main zone
indicates these two zones may join together in the next resource.




-------------------------------------------------------------------------
San Agustin Assay Results (Phase III)
-------------------------------------------------------------------------
                                                                     Aueq
Hole                  From      To  Length    Au     Ag    Pb    Zn   g/t
#        Zone           (m)     (m)     (m) (g/t)  (g/t)    %     %    (i)
-------------------------------------------------------------------------
SA-217   Main Zone    0.00  252.05  252.05       No Significant Results
-------------------------------------------------------------------------
SA-218   Main Zone    0.00  244.70  244.70       No Significant results
-------------------------------------------------------------------------
SA-219   Zone 2     109.00  213.00  104.00  0.23  13.17  0.07  0.27  0.76
-------------------------------------------------------------------------
                    225.00  247.00   22.00  0.26   8.08  0.07  0.32  0.77
-------------------------------------------------------------------------
                    263.00  306.00   43.00  0.28  31.87  0.12  0.47  1.34
-------------------------------------------------------------------------
                    350.00  364.00   14.00  0.59  10.84  0.02  0.26  1.00
-------------------------------------------------------------------------
                    372.00  383.00   11.00  0.47   4.78  0.01  0.70  1.28
-------------------------------------------------------------------------
SA-220   Main Zone    0.00  181.80  181.80       No Significant Results
-------------------------------------------------------------------------
SA-221   Zone 2      17.00  194.00  177.00  0.37  48.47  0.40  0.43  1.83
-------------------------------------------------------------------------
         inc.        21.95   58.00   36.05  0.73 161.67  1.18  0.45  4.45
-------------------------------------------------------------------------
         inc.        92.95  124.40   31.45  0.32  41.47  0.50  0.85  2.22
-------------------------------------------------------------------------
                    214.00  267.00   53.00  0.36  13.71  0.04  0.57  1.19
-------------------------------------------------------------------------
                    286.20  317.00   30.80  0.19   5.30  0.05  0.52  0.86
-------------------------------------------------------------------------
                    359.00  373.65   14.65  0.16   3.78  0.01  1.13  1.46
-------------------------------------------------------------------------
SA-222   Main Zone   35.00  123.00   88.00  0.60   5.53  0.01  0.89  1.63
-------------------------------------------------------------------------
SA-223   Main Zone    0.00  154.00  154.00  0.33  13.57  0.11  0.70  1.36
-------------------------------------------------------------------------
                    162.00  252.50   90.50  0.59   5.71  0.01  0.43  1.11
-------------------------------------------------------------------------
(i) Gold Equiv is based on contained metal and estimated using commodity 
    prices based on a four year rolling average for all metals ($USD) and
    recoveries of: Gold -- $559.74/oz and 95%, Silver -- $10.17/oz and 
    87%, Lead -- $0.69/lb and 91%, and Zinc -- $1.04/lb and 92%.



The San Agustin project is located approximately 85 kilometres north of Durango,
and approximately 4 kilometres northeast of the small town of San Agustin. The
project is situated 6 kilometres from paved road and national grid power. 


Qualified Person

Geologix's Resource Geologist, Andrew Hamilton, B.Sc., P. Geo., a 'qualified
person' for the purposes of National Instrument 43-101 Standards of Disclosure
for Mineral Properties of the Canadian Securities Administrators, has verified
the data (including sampling, analytical and test data) and prepared or
supervised the preparation of the information contained in this new release.


Quality Assurance & Control

The Company has implemented a quality assurance and control (QA/QC) program to
ensure sampling and analysis of all exploration work is conducted in accordance
with the best possible practices. The drill core is sawn in half with half of
the core samples shipped to ALS Chemex Laboratory Services Limited in Vancouver,
British Columbia for analysis. The other half of the core is retained for future
assay verification. The QA/QC policy includes the chain of custody monitoring,
insertion of blanks, standards and duplicates in the initial samples submitted.
The laboratory provides an additional internal control program.


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 prospectus to final feasibility and ultimately to production.


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