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Alix Resources Hits Promising Target at Golden Zone Breccia Pipe Deposit, Alaska

Alix Resources Corp. has announced results from 2011 drilling at the Golden Zone Breccia Pipe deposit at the company's gold-silver-copper property in the Valdez Creek Mining District in south-central Alaska.

Two HQ diamond drill holes were drilled in 2011 at the Breccia Pipe deposit at the 10,000 hectare (24,500-acre) property. Drill Hole GZBX11-003 intercepted 256.0 meters (840 feet) from the surface to a depth of 256.0 meters grading 1.50 g/T Au, 12.15 g/T Ag and 0.11% Cu. Drill Hole GZBX11-004 encountered 92.9 meters (305 feet) from depths of 105.2 to 198.1 meters grading 1.39 g/T Au, 6.15 g/T Ag and 0.06% Cu. The table below includes these data from these two sections and also composites of higher grade intercepts within them.

The two holes were also anomalous in arsenic and bismuth with numerous arsenic analyses in excess of 10,000 ppm in each and numerous anomalous bismuth analyses ranging up to 99 ppm in GZBX11-003 and up to 85 ppm in GZBX11-004.

The two 2011 holes in the breccia pipe were drilled to test zones of the pipe with only limited previous drilling and to test for mineralization in the breccia pipe at depths below the zone of the vast majority of the historic drilling as well as to collect samples for future metallurgical and acid-base accounting studies. The two drill holes were drilled in a plane along the 5050 Golden Zone mine grid section, and together they extend the known mineralization downward some 110 meters (360 feet) in that section. The 2011 drilling was also intended to test for porphyry-type mineralization and alteration below the breccia pipe, but as both of the 2011 holes were lost in poor drilling conditions, this goal was not fully accomplished.

Drill Hole GZBX11-003 was collared near the center of the breccia pipe outcrop and was drilled "down the throat of the pipe" at an incline -73° on a 45° (due northeast) azimuth. The hole was drilled to 309.2 meters (1014.5 feet) and was in mineralized brecciated porphrytic monzodiorite and brecciated monzodiorite from the collar to 253.9 meters (833 feet) where the brecciated rock gradually transformed into porphyritic monzodiorite, monzodiorite and gabbro (dikes) with mineralized veins and veinlets that persisted to the bottom of the hole. The hole was generally strongly to moderately silicified and argillic-altered with argillation becoming dominant in the lower portions of the hole; carbonate alteration was also identified through much of the hole. Pyrrhotite, arsenopyrite, pyrite, chalcopyrite and minor sphalerite were the primary sulfide minerals and varied from weak to strong in the hole.

Drill hole GZBX11-004 on the northeast margin of the breccia pipe outcrop was a vertical hole drilled to 264.9 meters (869 feet) and was collared approximately 83 meters (272 feet) due northeast and 33.5 meters (110 feet) in elevation below that of GZBX11-003. GZBX11-004 was designed to test the margin of the breccia and the adjacent country rock in this area. The hole started in brecciated porphyritic monzodiorite to 43.6 meters (143 feet), then passed through a zone of hornfelsed argillite adjacent to the pipe to 101.8 meters (334 feet), then back into brecciated porphyritic monzodiorite to 198.6 meters (651.5 feet), then less brecciated and veined porphyritic monzodiorite and monzodiorite to the bottom of the hole. Again strong to moderate silicification and argillation were the dominant alterations with local carbonate alteration, and again pyrrhotite, arsenopyrite, pyrite, chalcopyrite and sphalerite were the primary sulfide minerals with mineralization found both in the breccia and within the adjacent country rock.

In January of 2011 Alix released an N.I. 43-101 report containing a revised resource model and N.I. 43-101 compliant resource estimate for the Golden Zone Breccia by Norwest Corporation (see Alix News, January 20, 2011) indicating the deposit to contain, at a 1.0 g/T cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated material averaging 3.02 grams per ton Au and containing 279,166 ounces of gold, 1,523,657 ounces of silver and 3,233 tonnes (3,556 tons; 7,112,00 lbs) of copper. A detailed breakdown of these resources is contained in the referenced press release, in the N.I. 43-101 report posted on SEDAR and on Alix' web site

"We are very pleased with the results of the 2011 drilling in the Golden Zone Breccia Pipe," said Mike England, President and CEO of Alix. "I am told by our geologists that these data will correlate with the historic drill data on which our resource model is based and will also expand the deposit's resource base when incorporated into the resource model."

Alix' 2011 program at Golden Zone is directed by David Hedderly-Smith, Ph.D., P.G., Alix Director and Golden Zone Project Manager, who is a Qualified Person as defined by NI 43-101 and who also prepared and approved the geological and technical information contained in this release.



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