ALIX RESOURCES CORP. ("Alix" or the "Company") is pleased to announce that it has entered into a property purchase agreement with privately-held Kalt Industries Ltd. that now makes Alix the largest landholder with 325 sq. km in the emerging world class Sheslay Cu-Au porphyry district.
- Alix has acquired Kalt Industries Ltd.'s entire portfolio of Sheslay claims (23,500 hectares) in exchange for 4.25 million shares of Alix plus a retained 2% gross royalty;
- Mr. Ryan Kalt has joined the Alix Advisory Board and in that capacity will assist the Company in strategic business development related to its exclusive focus on the prolific Sheslay district;
- Mr. Kalt has agreed to subscribe for one million flow-through units of the Company at a price of $0.05 per flow-through common share in a private placement.
Mr. Mike England, Alix President and CEO, stated: "Given the wealth of historical and current data our geological team have reviewed concerning the Sheslay district, to secure this agreement with Kalt Industries Ltd. is a very strategic and timely initiative. We're expecting an explosive summer in the Sheslay district with the strong potential for new discoveries by our team and our neighbors. We are also thrilled to be adding the expertise of Mr. Kalt to our Advisory Board and we welcome him as a significant shareholder."
A map of Alix's expanded Sheslay district holdings may be viewed at the following web site URL:
Mr. Kalt is a well-respected entrepreneur and brings significant capital market expertise to the Company. He is also a Barrister and Solicitor and holds a Bachelor of Commerce (Hons) from Queens University, a Bachelor of Law from the University of Western Ontario, a Master of Business Administration from the University of Western Ontario and a Master of Law (Natural Resources, Energy and Environmental Law) from the University of Calgary.
With regard to Mr. Kalt's private placement with Alix, each flow-through unit will comprise one common flow-through share and one common share purchase warrant of the Company. Each warrant entitles the holder to purchase an additional non-flow-through common share at a price of $0.08 per common share for a period of 24 months. The flow-through funds will be applied to the next phase of exploration on the Company's expanded Sheslay package.
The acquisition and the private placement referred to above remain subject to approval by the TSX Venture Exchange.
Initial Sheslay Work Program Completed
Alix is also pleased to announce that it has recently completed a first-pass mapping and sampling program covering certain areas of its Sheslay holdings at North Cap East, North Cap West and Sheslay South Fork. Assay results are pending and the Company is now eagerly anticipating a quick return to the field in order to further evaluate potential drill targets.
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 & CEO