Geologix Expands Land Position at Tepal Project

Geologix Explorations Inc. (TSX:GIX)  reports that it has signed an option agreement to acquire additional claims at its Tepal project in Michoacán State, Mexico.

The press release is quoted as saying:

 2.0 % NSR based on the sale of all minerals is payable to Minera Tepal. Geologix retains a right of first refusal on any sale or assignment of royalties. Geologix may purchase at any time all or part of the NSR for $1,100,000 plus Value Added Tax for each 1% of the royalty.

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