Alix Completes First Phase, Starts Second Phase of Drilling at the Money Rock/West Pogo Gold Project, Alaska

Wed Jul 25, 2012 7:00am EDT

* Reuters is not responsible for the content in this press release.

ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX
VENTURE:AIX)(FRANKFURT:37N) announces that it has completed phase one
drilling at its Money Rock / West Pogo gold project, located 80
kilometers southeast of Fairbanks, Alaska. Phase one drilling focused on
the West Pogo portion of the project, with two NQ core holes completed
for a cumulative total meterage of 610 meters (2,002 ft.). Both holes
encountered metagranite with broad intervals of brecciation, including
zones of iron-stained sericite alteration and arsenopyrite. At the Pogo
Mine, located 3.5 kilometers east of the project and operated by Sumitomo
Metals Corp., an average of just under 400,000 ounces of gold is produced
each year (Alaska Division of Geological and Geophysical Surveys Special
Report 65, 2011).

    Drillhole WP-12-01 was collared in a broad northeast-trending area of
anomalous gold, defined by surface rock and soil assays on the northern
edge of the West Pogo claims. Previously, a northwest-oriented, inclined
hole was drilled in 2003 by AngloGold Ashanti (USA) Exploration Inc. at
the same site, and encountered wide zones of low-grade gold
mineralization. In the present program, the inclined drillhole was
northeast-oriented, designed to intersect a northwest-trending fabric at
depth that was identified after re-assessment of geophysical data for the
West Pogo property. After passing through 44 meters (144 ft.) of mostly
paragneiss, the drill encountered metagranite with sericite-altered,
iron-stained zones of brecciation and veining with arsenopyrite or pyrite
that appear to increase with depth to the end of the hole at 321 meters
(1,055 ft.).

    Drillhole WP-12-02 was collared 832 meters (2,730 ft.) east-northeast of
the first hole, and oriented northwest to test the eastern end of the
NE-trending anomaly, where gold-in-soil values range from 20 ppb up to
163 ppb Au and a float grab sample of silicified metagranite returned
2.12 g/t Au. The drillhole immediately encountered silicified metagranite
with a similar style of alteration as observed in WP-12-01 down to 150
meters (500 ft.), where increasingly abundant intervals of brecciated and
silicified metagranite with zones of arsenopyrite and pyrite plus traces
of chalcopyrite occur. These zones increase in width and intensity of
sulfide mineralization to the end of the hole at 289 meters (947 ft.).
Details of the interval lengths and intensity of sulfide mineralization
will become available as the logging is finalized on WP-12-02.

    Core is being sawed in half and sampled at roughly one meter intervals,
then delivered by truck to ALS-Chemex (Fairbanks, Alaska) for sample
preparation, after which sample pulps are shipped to the ALS Minerals
facility in North Vancouver, B.C. for assay. Gold assays are by fire
assay with AAS finish (ALS protocol Au-AA24), and trace elements by
ICP-AES after nitric aqua regia digestion (ALS protocol ME-ICP41). The
samples are being submitted with in-house and/or certified gold standards
inserted into the sample stream.

    In phase two of the program, a third drillhole (MR-12-01) will be
positioned 719 meters (2,360 ft.) north-northeast of WP-12-02, and
oriented to the southeast, to test the extent and dimensions of
mineralization encountered in the second drillhole. 

    Alix is exploring the West Pogo part of the project under an agreement
with Corvus Gold Inc. (TSX:KOR) whereby Alix will complete USD $5M in
work on the project and pay $125,000 over five years to earn a 60%
interest in the project (see news release March 5th, 2012).

    Dr. Tom E. McCandless, P.Geo. and Qualified Person as defined by NI
43-101, has reviewed the technical information contained in this release.

    Alix Resources Corp. is a junior exploration company actively seeking and
developing mineral opportunities for the benefit of all its stakeholders. 

    Corvus Gold Inc. is a resource exploration company focused in Nevada,
Alaska and Canada which controls a number of exploration projects
representing a spectrum of early-stage to advanced gold projects.


    Michael England, President 

    Forward-Looking Statement: 

    Some statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of
Alix Resources Corp. Actual results may differ materially from those
currently anticipated in such statements. 

    Neither the 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.

Alix Resources Corp.
Michael England
1-604-683-3995 or Toll Free: 1-888-945-4770

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