Mr. Michael England reports

ALIX ANNOUNCES DEBT SETTLEMENT

Alix Resources Corp. has reached a settlement agreement with Core One Drilling Inc. with respect to indebtedness owing by the company to Core One for past services rendered.

In settlement of such debt, the company will, among other things, pay Core One $15,000 (U.S.) in cash and issue 5.4 million common shares. The shares will be subject to a four-month hold period commencing from issuance. If, after the four-month hold period has expired and up to a maximum of six months from issuance, Core One sells the shares and does not receive an average price of 2.5 cents per share, the company will be obligated to pay Core One the difference in amount between the sale price of such shares and 2.5 cents per share. Issuance of the shares remains subject to the company receiving all necessary prior approvals from the TSX Venture Exchange.