AuEx Ventures, Inc.
TSX : XAU

AuEx Ventures, Inc.

October 05, 2009 07:00 ET

AuEx Ventures, Inc.: Long Canyon Gold Mineralization Extended 100 Meters North

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2009) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) is pleased to report new gold intercepts from the ongoing 2009 exploration drilling program that extend gold mineralization an additional 100 meters to the north of the Shadow Zone where it still remains open to expansion. These new drill results augment recent announcements of a 200-meter northeast extension (September 17, 2009) and a 500-meter southwest extension (October 1, 2009) of the West Zone. These results demonstrate continued growth of an evolving resource (To view accompanying map, please click on the following link: http://media3.marketwire.com/docs/1005XAUmap.jpg). Drilling with four rigs is actively underway to extend gold mineralization even farther on the north and northeastern extension of the deposit.

Ronald L. Parratt, CEO of AuEx commented: "The Long Canyon gold deposit continues to grow with significant upside still apparent within the 12,000 acre property. We have another two months of drilling ahead of us before shut down for the winter and a number of additional holes to drill. All mineralization we've encountered to date continues to be oxidized, shallow and open and we are very pleased with the results achieved this year."

The following table summarizes the new reportable assay results:



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Hole ID From To Intercept Au From To Intercept Au
Length Length
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(feet) (feet) (feet) oz/T (meters) (meters) (meters) (gpt)
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LC306C 476.0 501.0 25.0 0.078 145.1 152.7 7.6 2.69
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LC314C 94.0 101.0 7.0 0.032 28.7 30.8 2.1 1.11
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LC316C 438.0 464.0 26.0 0.084 133.5 141.5 8.0 2.87
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LC320C 508.0 589.5 81.5 0.192 154.9 179.7 24.8 6.57
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526.5 578.5 52.0 0.265 160.5 176.4 15.9 9.08
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LCG01 76.8 105.0 28.2 0.029 23.4 32.0 8.6 1.00
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LCG02 393.0 426.5 33.5 0.424 119.8 130.0 10.2 14.52
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409.5 424.5 15.0 0.924 124.8 129.4 4.6 31.63
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The Company holds a 49% interest in the Long Canyon Venture located in Elko County Nevada. Fronteer Development Group, Inc. ("Fronteer"), operator and 51% owner, provided these results to the Company. True widths of the mineralized intervals are interpreted by Fronteer to be between 70-100% of the reported lengths. Results less than 1 g/t are not reported in this press-release table. "LCG" identifies geotechnical holes and holes ending in "C" indicates core. A table of comprehensive drill results, including non-reportable intercepts, is posted on the Company's website.

The Long Canyon gold deposit consists of multiple, semi-parallel, north- to northeast-directed zones of gold mineralization aggregating 800 to 1,000 feet in width with a current strike length of approximately 1.4 miles (2.3 kilometers). The mineralization is Carlin-type and is both strataform and structurally controlled. Gold values are hosted within an eastward dipping sequence of Cambrian and Ordovician limestone and dolomite with local karst development. Mineralization is oxidized and metallurgical test work to date indicates that it is amenable to conventional recovery techniques. Gold values start at the surface and are open along strike and at depth. Two core and two reverse circulation drill rigs are active on the property and are expected to drill through the end of November.

As reported to AuEx by Fronteer, all drill samples were collected following standard industry practice and were assayed by ALS Chemex of Reno, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. Samples exceeding 5 grams per tonne gold were re-assayed using a gravimetric finish and the values received were reported in the averages. QA/QC included the insertion of numerous standards and blanks into the sample stream, and a check assaying program is underway at another laboratory. A table containing all drill results to date reported to a 0.3 gram/tonne cutoff is posted on the Company's website. All sampling, analytic and test data, as reported to the Company by Fronteer and disclosed in this press release, has been reviewed by the Company's Qualified Person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists. Further details concerning the Long Canyon property are described in the Company's National Instrument 43-101 report filed on Sedar and are on the Company's website.

AuEx Ventures, Inc. is a Nevada based TSX listed precious metals exploration company that has a current portfolio of twenty three exploration projects in Nevada, one project in Spain and two projects in Argentina. The Company controls about 176,000 acres of unpatented mining claims and fee land in Nevada. Ten of the projects are in joint venture or exploration earn-in agreements with six companies who provide 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. This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.

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