Rhyolite Resources Ltd. is a Canada-based exploration company. The Company is engaged in the acquisition and exploration of mineral properties. The Company has claims to the Paxson gold property located in the State of Alaska. The Company holds over nine mineral claims covering approximately 1,440 acres in the eastern Alaska Range, approximately 50 kilometers southwest of Tok, Alaska known as the Paxson property. The Paxson property is located in the Tintina Gold Belt, a metallogenic province stretching from Northern British Columbia to southwest Alaska. The Paxson property includes Shalosky Zone, Low Zone and The Hunter Zone. The Shalosky zone is hosted in a north-northeast trending shear zone that contains quartz-sulfide veining, brecciation and fault gouge. The Low Zone is located approximately three kilometers east-southeast of the Shalosky gold-in-soil anomaly at the Low Zone. The Hunter Zone is located approximately one kilometer south-southeast of the Shalosky zone.