Alix and Cloudbreak Acquire More Land in White Gold District, Yukon

Alix Resources Corp. and Cloudbreak Resources Ltd. have collectively acquired a further 125 claims in the vicinity of Underworld’s White Gold discovery in the Yukon.

Alix and Cloudbreak entered into a joint venture agreement to jointly acquire and perform work programs in the White Gold district. These new claims bring the total claim count to approximately 150 claims, or 3,105 hectares, making this land position one of the largest in the vicinity of Underworld’s White Gold discovery of 103 metres of 3.4 grams per tonne gold.

Terms of the deal are: Alix and Cloudbreak shall issue to the vendor, Blair Naughty, 2.5 million shares and $25,000 from each company, issue a 3-per-cent net smelter return royalty with 1-per-cent purchasable for $1-million at any time plus commit to spend $250,000 in year one.

Alix and Cloudbreak are in the process now of performing a systematic geological and geochemical survey of the initial claim block.

It is the intention of the companies to continue surface exploration programs on all the claims with the goal of beginning a drill program this summer.

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