|February 20, 2009|
Geologix to Initiate Aggressive Plan of Acquisition and Development for 2009
|Vancouver, B.C., February 20, 2009 - Geologix Explorations Inc. (the "Company") wishes to advise that in light of recent corporate developments, the Company's Board of Directors has implemented an aggressive business plan and growth strategy for the Company. The focus will be on the acquisition and development of significantly undervalued advanced-staged projects, and the systematic evaluation of suitable corporate merger and acquisition candidates. Although the focus will be on advanced stage projects, the Company maintains its exploration team, lead by Siegfried Weidner, and continues its search for high quality mineral assets.|
The Company will maintain its jurisdictional focus in the Americas with a specific concentration on precious metals assets in Mexico, however all mineral resource acquisition opportunities with the potential to add shareholder value will be investigated on their own merits. The Company believes current equity markets and coinciding depressed mineral resource valuations represent a unique opportunity for Geologix to capitalize on a growing number of distressed situations within the resource sector. The Company will utilize management's expertise to identify and acquire advanced-staged mineral resource assets and target suitable merger and acquisition candidates with significantly discounted valuations as a means of growing the Company.
Dunham Craig, President and CEO stated, "We believe current market and industry conditions represent an opportunity not seen since late 2002 and early 2003 where significantly advanced mineral resource assets are available at discounted entry points ahead of what many believe will be a significant commodity bull market. In the current environment, we see enormous potential to leverage our experience and expertise in acquiring assets and building fundaments at a time when exploration and development capital is limited. Our current working capital, share structure, and technical expertise allow us to build the project portfolio and add shareholder value."
The Company is well financed with no debt or onerous work commitments, is favourably capitalized, and has maintained its technical staff and management team. The Company also maintains its property assets in Peru, Nevada, and Mexico, including the rights to the Consejo and El Carmen claims strategically located immediately adjacent to the San Agustin project in Durango, Mexico.
Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral properties in North and South America.
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