Caribou and Alix Increase Land Position Around Wellgreen Project, Yukon
20.07.2011 | Marketwire
VANCOUVER, July 20, 2011 - Caribou Copper Resources Ltd. (TSX VENTURE: CKR) and Alix Resources Corp. (TSX VENTURE:AIX) (FRANKFURT:37N) (the 'Companies') announce that they have increased the land positions of their Vault and Corky properties adjacent to the Prophecy Platinum Wellgreen Project, located 140 kilometers northwest of Haines Junction in the Whitehorse Mining District of South-Western Yukon. In recent news, Prophecy Platinum reported a NI 43-101 compliant estimate of 1.04 million ounces PGM+Au indicated and 10.97 million ounces PGM+Au inferred at the Wellgreen Project (see Prophecy Platinum News Release, July 15, 2011).The Companies have successfully staked a total of 228 additional claims in the Yukon, six of which cover most of the 500 meters between the Companies' Vault property and the Wellgreen Project. The balance of claims adjoin the Strategic Metals (TSX VENTURE: SMD) “Burwash“ claims and greatly increase Caribou and Alix's exposure to this exciting area (see Alix and Caribou News Releases, July 18h, 2011).
Alix obtained the Vault and Corky properties as part of a five-property Yukon portfolio from Strategic Metals Ltd. in an option agreement whereby Alix can obtain 100% of the five properties by issuing 9.9% of its outstanding share capital to Strategic and making cumulative cash payments totaling $3,000,000 over a four-year period (see Alix News Release, January 31, 2011). In May 2011, Caribou entered into an agreement with Alix whereby 49% interest in the five properties can be obtained by issuing 500,000 common shares and spending $600,000 on the properties over two years (see Caribou News Release, May 11th, 2011). Caribou also shares its proportionate amount of the underlying agreement with Strategic Metals Ltd. on these five properties.
Caribou Copper's mission is to identify, acquire, and advance high potential base and precious metal prospects. For more information visit the website at www.cariboucopper.com.
Alix Resources is a junior exploration company actively seeking base and precious metal venture opportunities for the benefit of all of its stakeholders. For more information visit the website at www.alixresources.com.
ON BEHALF OF THE BOARD
Michael England, President
Alix Resources Corporation
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Alix Resources, Corp. and Caribou Copper Resources. 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.
Contact Information
Alix Resources Corporation
Michael England, President
1-604-683-3995 or Toll Free: 1-888-945-4770
604-683-3988 (FAX)
www.alixresources.com
