ALIX CLARIFIES DISCLOSURE
July 22nd, 2011, VANCOUVER, B.C.– ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.
In the July 20th, 2011 news release, the Company disclosed a mineral resource estimate for Prophecy Platinum’s Wellgreen property that did not disclose the tonnes, grade and individual metal content of each category. As reported by Prophecy Platinum (NKL – TSX:V) on July 14th, 2011, using a 0.4-per-cent NiEq (nickel equivalent) cut-off grade, the Wellgreen deposit contains a total inferred resource of 289.2 million tonnes at an average grade of 0.53 gram per tonne platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18 g/t PGM plus gold), 0.38 per cent nickel and 0.35 per cent copper. Separately, the deposit also contains an indicated resource of 14.3 million tonnes at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM plus gold), 0.69 per cent nickel and 0.69 per cent copper.
President Mike England states “We are very pleased to have such strategic land positions near Prophecy’s Wellgreen PGE-Ni-Cu property located in the Yukon Territory, Canada. We have increased the budget for the area now, in particular on our Vault property which sits within 500 meters of the border of the Wellgreen property, and look forward to an exciting summer of activity there.”
Golden Zone, Alaska
On the Company’s website, in addition to news releases issued on March 3rd, 2011 and July 19th, 2011 Alix disclosed mineral resource estimates for its Golden Zone project in Alaska. To further clarify these resources the Company wishes to add the following:
The revised estimated resource in the Golden Zone Breccia Pipe indicates the deposit to contain, at a 1 g/T cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated material averaging 3.02 grams per ton and containing 279,166 ounces of gold, 1,523,657 ounces of silver and 3,233 tonnes (3,556 tons; 7,1220,00 lbs) of copper (see press release dated January 20th, 2011).
David Hedderly-Smith, Ph.D, P.G., who is a Director of Alix and a Qualified Person as defined by NI 43-101 has prepared and approved the geological and technical information about the Golden Zone contained in this release.
Arcadia Project, Nunavut
On the Company’s website, disclosure on the Arcadia property did not include all the information and cautionary language necessary in reporting the historical estimates. The Company is working on amending this section and expects it to be completed within the next week.
David Hedderly-Smith, Ph.D, P.G., who is a Director of Alix and a Qualified Person as defined by NI 43-101 has prepared and approved the geological and technical information contained in this release.
Alix Resources is a junior exploration company actively seeking base and precious metal venture opportunities for the benefit of all of its stakeholders. For more information visit the website at www.alixresources.com.
ON BEHALF OF THE BOARD
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
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.Back to Past News