GIX Geologix Explorations (delisted)

Geologix Explorations Inc. (Geologix) (TSX VENTURE:GIX)(FRANKFURT:GF6) is
pleased to announce that it has signed a letter of intent to option the 1,472
hectare La Casita - Los Arados claim group, located in central Durango State,
Mexico from GFM Resources Ltd. (NEX:GFM.H). The property is easily accessible
and located 5.5 km southwest of the town of Rodeo in Durango State, Mexico.
Geologix rock-chip sampling on the claim group has returned assays up to 1.84
g/t gold and 247 g/t silver in silicified stockwork and breccia zones hosted in
subvolcanic rhyolites found on the property. Colluvium and post mineral
volcanics commonly mantle the gold-bearing rhyolites at La Casita-Los Arados,
especially along the northeast flank of a prominent peak on the property called
Cerro Colorado. In that zone, scattered rhyolite outcrops have returned assays
of more than 1 g/t gold along a northwest trending corridor for at least 950
metres. A similar corridor of gold mineralization occurs a kilometre southeast
of Cerro Colorado and trends east-northeast along the south flank of a rhyolite
ridge called Cerra La Amarilla. That zone is at least 1000 metres long.


Dunham Craig, President and CEO states: "The La Casita property is a perfect
compliment to our project portfolio near our San Agustin project which is
located a mere 40km to the south of La Casita and where we have three drill rigs
operating. Both San Agustin and La Casita host large epithermal systems
associated with subvolcanic rocks and both have ore-grade gold mineralization at
surface with excellent exploration potential beneath covered areas."


A high-resolution topographic base map of La Casita-Los Arados is currently
being prepared from air photos taken over the property in December 2007.
Fieldwork consisting of sampling, trenching, and geologic mapping in preparation
for drilling is planned for 2008.


The Agreement

In order to acquire a 60% interest in La Casita, Geologix will:

1. Pay GFM Resources Ltd. US $650,000 in cash over a period of up to four years
as follows:




a. On signature of a definitive agreement             US $ 50,000
b. On or before the first anniversary thereof         US $100,000
c. On or before the second anniversary thereof        US $125,000
d. On or before the third anniversary thereof         US $150,000
e. On or before the fourth anniversary thereof        US $225,000
                                                      -----------
Total                                                 US $650,000



2. Fund 100% of an exploration program totalling US $1,875,000, as follows:



a. On or before the first anniversary               US $  125,000
b. On or before the second anniversary              US $  250,000
c. On or before the third anniversary               US $  500,000
d. On or before the fourth anniversary              US $1,000,000
                                                    -------------
Total                                               US $1,875,000



Geologix will maintain the mineral concessions in good standing over the term of
the option, and will have the right to accelerate the schedule of payments and
work expenditures to earn its 60% interest.


Once Geologix has earned its 60% interest in La Casita, a joint venture between
Geologix and GFM Resources Ltd. will be formed. The joint venture operator will
be Geologix. The Operator over the following three years, must propose a minimum
annual US $625,000 joint venture budget to remain as operator. The joint venture
committee may decide to spend less over the period. Both parties may elect to
contribute to the proposed budget or have their interest diluted.


A Feasibility Study may be proposed by the Operator, or by the other party if
the Operator fails to do so, within three months of the end of the three-year
joint venture period. If one of the parties elects not to participate in the
funding of the feasibility study, the other party will earn an additional 11%
interest in the joint venture by the completion of a positive feasibility study.
If the feasibility study recommends taking the property into production and one
of the parties does not elect to participate, the other party will earn a
further 9% interest.


Geologix Explorations Inc. is a mineral exploration company focused on
acquiring, exploring and developing mineral properties in North and South
America. The Company has a wealth of experience in the mining industry taking
early stage exploration prospects to final feasibility and ultimately to
production.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States of America. The
securities have not been and will not be registered under the United States
Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons (as
defined in the U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws, or an exemption from such registration
is available.

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