Mr. Dunham Craig reports

GEOLOGIX EXTENDS WARRANTS & REDUCES EXERCISE PRICE

Geologix Explorations Inc. has elected to amend the 6,642,900 warrants it originally issued via a private placement that closed in August, 2012. Included in that amount are 425,000 warrants held by insiders of the company that will not be exercisable on the amended terms until such amendments are approved by shareholders other than such insiders.

These warrants originally carried an exercise price of 30 cents per share, and were scheduled to expire on Aug. 5, 2014. As a result of the company's amendments, the warrants will instead carry an exercise price of 15 cents per share and expire on Jan. 29, 2016. The 6,217,900 warrants held by arm's-length parties may be exercised at the reduced exercise price starting on the effective date of the amendment, being Aug. 13, 2014. Furthermore, the warrants' original acceleration clause has not been amended. As a result, if the daily volume-weighted average trading price of the company's common shares exceeds 60 cents on the Toronto Stock Exchange for any 20 consecutive trading days, the company may, within five trading days thereof, give notice that the warrants will expire 30 trading days after such notice.

"Geologix continues to pursue an appropriate financing arrangement that provides long-term benefits for both the shareholders and the advancement of our promising Tepal project," stated Dunham Craig, the company's president and chief executive officer. "Our shareholders have shown great patience during this time. The amendment of these warrants serves as an acknowledgement of these shareholders' understanding."

We seek Safe Harbor.