AuEx Ventures, Inc.
TSX VENTURE : XAU

AuEx Ventures, Inc.

October 26, 2007 12:29 ET

AuEx Signs Agreement With Longview Capital on Baza Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2007) - AuEx Ventures, Inc. (the "Company" or "AuEx") (TSX VENTURE:XAU) is pleased to announce that it has entered into an exploration and development earn-in agreement with Betics Range Resources, Inc, (Betics) a private company owned by Longview Capital Partners (Longview) of Vancouver, Canada covering the Company's Baza gold and copper exploration project in southern Spain held under an agreement with Basti Resources, S.L. (Basti).

Under the terms of the exploration and development earn-in agreement Betics has the opportunity to earn a 51% undivided interest in the Baza project and in other projects identified within a defined Area of Interest by expending 1.6 million Euros within a 3 year period. Longview then has the option to earn an additional 9% by expending 2 million Euros or by completing a pre-feasibility study within 18 months and the option to earn an additional 10% (for 70% total) by completing a bankable feasibility study. AuEx was paid US$100,000 and issued 100,000 common shares of Betics which was formed specifically for the Baza project. The cash and stock payments will continue annually until completion by Betics of the feasibility study. The terms of the agreement also provide that Betics will fulfill the terms and conditions of the underlying agreement with Basti Resources, S. L.

The Baza property consists of approximately 1500 hectares covering a series of veins and shear zones hosted within a package of meta-sediments that were mined historically for iron. Initial surface sampling by Basti, subsequently confirmed by AuEx and Betics, have encountered numerous areas of anomalous gold and copper values. Surface sampling of one vein produced consistent values of multigram gold plus copper over a surface outcropping strike length of 500 meters. Individual rock chip grab samples ran as high as 12 g/t Au and 2% Cu and preliminary channel samples taken throughout the 500m strike length are:



3.4 m @ 6.80 g/t Au and 1.86% Cu
2.6 m @ 2.00 g/t Au and 0.43% Cu
1.7 m @ 8.55 g/t Au and 0.35% Cu
2.5 m @ 2.62 g/t Au and 0.70% Cu
2.0 m @ 5.02 g/t Au and 0.70% Cu
1.2 m @ 1.53 g/t Au and 0.33% Cu
1.5 m @ 2.74 g/t Au and 0.30% Cu


Regional stream sediment geochemistry, remote sensing and extensive field reconnaissance have identified other anomalous areas and additional licenses have been applied for. The area is potentially a significant new district unrecognized for Iron Oxide Copper Gold (IOCG) mineralisation hosted in the External Zone of the Betic Orogeny, effectively the western terminus of the Carpathian Arc.

Commenting on the agreement, Ronald L. Parratt, President and CEO said "We are very pleased to have Longview Capital Partners as our joint venture partner on the Baza project. The aggressive program proposed by Longview will ensure that exploration moves forward at a rapid pace. Spain is a new theater of exploration for AuEx and this agreement gives our shareholders considerable exposure to new exploration opportunities, with minimal financial risk, that is outside of the Company's Nevada focused range of projects".

AuEx Ventures, Inc. is a Tier 1 TSX.V -listed precious metals exploration company that has a current portfolio of seventeen properties in Nevada, one project in Spain, and a generative exploration program in Argentina. The Company controls over 80,000 acres of unpatented claims and fee land. Eleven of the projects are in joint venture agreements with eight companies providing exploration funding. The Company applies the extensive Nevada exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture.

AuEx Ventures, Inc.

Ronald L. Parratt, President and CEO

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although the management of AuEx believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • AuEx Ventures, Inc.
    Ronald L. Parratt
    President and CEO
    (775) 337-1545
    or
    AuEx Ventures, Inc.
    Deborah Thiel
    Manager, Investor Relations
    (604) 541-9655