GIX Geologix Explorations (delisted)

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


Geologix Explorations Inc. ("Geologix" or the "Company") (TSX
VENTURE:GIX)(FRANKFURT:GF6) is pleased to announce that it has arranged a
private placement offering (the "Offering") of up to 6,000,000 units (each a
"Unit") at a price of $2.40 per Unit. The Offering will be led by Research
Capital Corporation and will include Haywood Securities Inc., Salman Partners
Inc. and Versant Partners Inc. as agents. The agents have been granted an option
(the "Agents' Option") to increase the size of the Offering by up to 2,000,000
Units by giving written notice to the Company at any time up to 24 hours before
the closing of the Offering. Should the Agents' Option be exercised, the
Offering will raise gross proceeds of $19,200,000.


Each Unit will consist of one common share (each a "Common Share") and
one-quarter of one Common Share purchase warrant (each whole warrant being a
"Warrant"). Each Warrant will be exercisable to purchase one Common Share at a
price of $3.20 per Common Share for a period of 24 months following the closing
of the Offering. Should the average closing price of Geologix's Common Shares
after the four month anniversary of closing equal or exceed $5.00 per Common
Share for a period of 10 consecutive trading days, Geologix may give the warrant
holders notice that the Warrants must be exercised within 20 trading days or the
Warrants will terminate.


The proceeds of the Offering will be used for continued exploration of
Geologix's San Agustin property in Mexico, further exploration activities on the
Company's properties in Peru and Nevada, and for general working capital.


The Company will pay the agents a cash commission equal to 6.0% of the gross
proceed arising from the Offering and will issue to the agents such number of
broker warrants consisting of Units, and having the same terms as the Units, as
is equal to 6.0% of the number of Units sold under the Offering. All securities
issued pursuant to the Offering will be subject to a four month restricted
resale period from the date of closing. The Offering is expected to close on or
before February 15, 2008 and is subject to exchange approval.


Geologix Explorations Inc. is a mineral exploration company focused on
acquiring, exploring and developing gold 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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