VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) - ALIX RESOURCES CORP. (TSX VENTURE:AIX)(FRANKFURT:37N) and GEO MINERALS LTD. (TSX VENTURE:GM) (The "Companies") are pleased to announce that the Phase II drilling program is now underway at the Companies' Red Deer Lake Coal Property located in Manitoba adjacent to Goldsource's "Border Property" and directly south of Westcore's "Hudson Bay North Property". CorePro Drilling Inc. has been contracted to perform the drilling.
The proposed drilling program follows on the March 2009, Red Deer Lake Phase I drilling program and calls for up to 24 drill holes, to be drilled by CorePro Drilling Inc. These drillholes are targeted to test the Cretaceous Mannville Formation that is covered by the Manitoba Coal Property and where Goldsource discovered the Durango Coal seam.
As announced November 5, 2008, in an agreement with a Saskatchewan based private company, NuCoal Energy Corp., the Companies have the right to acquire up to an 80% interest in 31,904 hectares (78,836.5 acres) of prospective coal ground adjoining Goldsource Mines Inc "Border Coal Discovery" Property.
Paul D. Gray, P.Geo., Director of Geo Minerals and Q.P. as defined by N.I. 43-101, is the lead geologist on this program and has approved the contents of this news release.
Alix also announces it is granting a total of 675,000 stock options to directors, officers, employees and consultants of the company, exercisable at a price of 10 cents per share for a period of five years from the date of grant. The options have been granted in accordance with the company's stock option plan.
The Company also wishes to amend details pertaining to finder's fees paid (see NR Oct. 21, 2009) where it announced a total of 385,000 broker warrants were issued. The corrected amount is 485,000 broker warrants.
For further information we invite you to visit the Companies' websites located at
www.alixresources.com and
http://www.geominerals.ca/.
Alix Resources and Geo Minerals are each junior exploration companies actively seeking mineral and energy opportunities for the benefit of all our stakeholders.
ON BEHALF OF THE BOARDS
Michael England, President
Neither 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.
