AuEx Ventures, Inc.
TSX : XAU

AuEx Ventures, Inc.

September 01, 2009 07:00 ET

AuEx Ventures, Inc.: Trinity Silver Exploration Property Optioned

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2009) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) is pleased to announce that it has entered into a Letter of Intent ("LOI") with Yellowcake Mining, Inc. ("YCMI") an American OTC-BB listed company based in Vancouver, British Columbia, Canada concerning the Company's Trinity Silver exploration property located about 25 miles north of Lovelock in Pershing County, Nevada. The Trinity Silver property consists of approximately 5,000 acres of leased and sub-leased fee land and 59 unpatented mining claims held under lease from a third party.

Under the terms of the LOI, YCMI will reimburse the Company for 2009 mining claim fees and will have until November 1, 2009 to sign an Exploration Earn-in Agreement ("Agreement"). Upon signing the Agreement, YCMI will pay to the Company US$250,000 and incur expenses on the property during the first agreement year of at least US$500,000, and is committed to the preparation of a current resource estimate complying with 43-101 standards. YCMI is required to pay the Company US$250,000 on the first anniversary of the Agreement and to expend a minimum of US$1,000,000 during the second Agreement year. YCMI must expend a minimum of US$5,000,000 within 6 years and complete a bankable feasibility study to earn an undivided 70% interest in the Trinity Silver property. Should YCMI expend US$3,000,000 or more and terminate its interest without vesting, it would be entitled to a 3% net smelter return royalty capped at twice its investment.

The Trinity Silver property was discovered in the early 1980's and was developed as a small open pit, oxide silver heap leach operation which produced about 5,000,000 ounces of silver over 2 years in the mid- to late 1980's. Unoxidized silver mineralization, defined by over 100 holes drilled at that time, was left unmined. The Trinity deposit is epithermal in style, Tertiary in age and is hosted predominately in felsic volcanic rocks. AuEx conducted 2 earlier phases of drilling on the property totaling 25 core and reverse circulation holes under a previous earn-in agreement that was terminated on July 17, 2009.

All data disclosed in this press release including sampling, analytical and test data, have 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.

AuEx Ventures, Inc. is a 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. Nine of the projects are in joint venture or exploration earn-in agreements with five companies. 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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