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Shares Out: 63,092,688
Market Capitalization: 5,047,415
Estimate of Cash Position: 967,000
Property Name: Cathy 150 and Cathy 148
Property Size (Hectares): 500
Distance from White Gold: 4 km E
Property Origin: Blair Naughty

Details

Alix can earn 100% by paying the vendor $75,000, 700,000 common shares and $250,000 in exploration expenditures by May 1, 2010. The vendor will retain a 3% NSR, of which the company may purchase 1 per cent prior to commencement of commercial production for $1-million. Sounds like there is a claim dispute, since an amendment states that if grant certificates are not issued for 50 per cent of the Quartz claims, $37,500 of the $75,000 cash consideration will be returned to the company and the number of shares to be issued shall be reduced from 700,000 common shares to 350,000 common shares.

Alix will be starting a geological and geochemical survey of the claim block. Alix Resources geologists are familiar with working in the Tintina gold belt. They also have some other gold properties and a coal property.