Geologix Announces Intention to Complete $3 Million Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 4, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Geologix Explorations Inc. (TSX VENTURE:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(MUN:GF6)(STUT:GF6) ("Geologix" or the "Company") is pleased to announce that it has retained Eight Capital to act as lead agent, on behalf of a syndicate of agents (collectively, the "Agents"), to offer for sale, on a "best efforts" private placement basis, units of shares and warrants of the Company ("Units") to be structured and priced in the context of the market, for total gross proceeds of up to $3,000,000 (the "Offering").

The Company has granted the Agents an option to offer for sale up to an additional 15% of the Units at the offering price, exercisable up to 48 hours prior to the closing of the Offering.

The net proceeds of the Offering will be used for exploration and development expenditures at the Company's Tepal Gold/Copper Project, working capital and general corporate purposes.

The Offering is scheduled to close in early May 2017 and is subject to certain conditions including receipt of TSX Venture Exchange approval. All securities issued will be subject to a four month hold period in accordance with applicable Canadian securities laws, and will be "restricted securities" as defined under the securities law of the United States.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Geologix Explorations Inc.

Geologix is a mineral exploration and development company focused on acquiring, exploring, and developing mineral resource opportunities with the potential to host profitable mining operations. The Company's primary focus is the Tepal Gold/Copper Project in Michoacán state, Mexico.

On behalf of the Board of Directors,

Kiran Patankar, President and Chief Executive Officer

This Press Release may contain statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.