Geologix Provides Operational Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 23, 2013) - Geologix Explorations Inc. (TSX:GIX)(OTCQX:GIXEF)(FRANKFURT:GF6)(BERLIN:GF6)(STUT:GF6)(MUN:GF6) ("Geologix," or the "Company") is pleased to provide an update regarding both its operational progress and its preparations for arranging the financing required to commence operations at the Company's Tepal Project in Mexico.

In August of 2013, Geologix engaged Auramet Metal Trading Inc. ("Auramet") as a financial advisor. Auramet, a metal trader, possesses extensive experience in both syndicated debt financing and negotiating agreements with precious metal refiners, royalty and streaming companies, and smelters.

"Auramet's experience is an ideal match for Tepal's unique production profile, which is 50% precious metals and 50% copper," stated Dunham Craig, Geologix's President and Chief Executive Officer. "Tepal's precious metal and copper contents are designed for production in doré and concentrate, respectively. Geologix's previously completed technical work has proven that this concentrate is exceptionally clean, metallurgically favorable for cost effective smelting, and of a desirable grade - three particularly appealing qualities for smelters. The concentrate quality and the significant precious metal production are Geologix's best assets when arranging project financing from these non-bank sources, and we intend to leverage both accordingly. Auramet's background in both precious and base metals has already proven an asset in preparation for this financing."

In September of 2013, Geologix processed representative material from Tepal's three pits through a pilot plant at G&T Laboratories located in Kamloops, British Columbia. Processing this material will facilitate concentrate marketing by creating sufficient concentrate for various off takers' test work and analysis. Data derived from the pilot plant will also be used for final Feasibility Study environmental considerations and equipment sizing.

"We are very pleased with the results we received from the pilot plant," continued Mr. Craig. "The concentrate data met our Prefeasibility Study ("PFS") quality expectations, and our PFS equipment specifications were confirmed. Also, the tailing results were exceptionally clean, which will result in well contained operational and environmental costs."

Also in September of 2013, Geologix submitted Tepal's environmental permit application and risk assessment to SEMARNAT, the Mexican regulatory agency responsible for mine permitting. Information for this submission was extracted from both Tepal's PFS and the environmental baseline work the Company has conducted over the past three years. As Geologix has not yet completed Tepal's final Feasibility Study, management expects that SEMARNAT will request additional detailed information prior to issuing approval. Much of this information will be supplied as the Company progresses towards the final Feasibility Study, and the Company anticipates receiving all necessary approvals in time for Tepal's financing and construction.