Auryx Gold Corp.
TSX : AYX

Auryx Gold Corp.

August 26, 2010 08:55 ET

Auryx Gold Announces Work Plans for the Otjikoto Gold Project in Namibia

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2010) - Auryx Gold Corp. ("Auryx" or the "Company")(TSX:AYX) is pleased to announce the twelve month exploration and development plans for the Otjikoto gold project ("Otjikoto" or the "Project"), which will include drilling, soil sampling, ground geophysical surveys, and developmental studies.

The Company plans to drill up to 15,000 m using diamond drill (DD) rigs comprising approximately 60 holes, and drill up to 10,000 m using reverse circulation (RC) drill rigs comprising approximately 120 holes. This drilling is entirely focused on resource growth exploration. Approximately 85% of the drilling will be within 1 km of the known resources as published in the NI 43-101 report by SRK in August 2009 ("Current Resource"), with the remainder testing earlier stage targets further afield. SRK's NI 43-101 report on Otijkoto is available on SEDAR at www.sedar.com. Currently, the Company has one diamond drill rig turning on site, which has been producing core since early July. Two more rigs (1 DD and 1 RC), will be added by mid-September.

On its five exploration licences, the Company controls over 200 km of favorable strike. Remote sensing and geologic mapping will be used in areas of prospective geology to estimate potential. In order to refine previously identified, early stage targets, and in attempt to identify further targets, the Company will cut grids for soil sampling and ground geophysical surveys. Approximately 85% of the 11,000 planned soil samples will be used to refine targets or in attempt to identify new targets in areas well beyond 1 km of the Current Resource.

Development work will focus on completing an Environmental and Social Impact Assessment (ESIA) and geohydrological studies in the area of the Current Resource. These studies were initiated by the previous owners. Furthermore, a re-estimation of the Current Resource has just commenced and is expected to be complete by December 2010.

About Auryx Gold Corp.

Auryx Gold Corp. (TSX:AYX) is a Canadian growth-focused, resource company engaged in the acquisition and exploration of gold projects in Namibia. The Company is currently advancing the Otjikoto gold deposit, located 300km north of Namibia's capital city, Windhoek.

By virtue of its location, the Project benefits significantly from Namibia's well established infrastructure with paved highways, a railway, power grids, and the water grid all close by.

Located in southwest Africa, Namibia is mining-friendly and lauded as one of the continent's most politically and socially stable jurisdictions.

On behalf of the Board of Directors

Tim Searcy, P.Geo., President

Cautionary Notes

Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking information which include management's assessment of Auryx Gold future plans and operations and are based on Auryx Gold current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These risks and uncertainties include, but are not limited to: successful completion of the proposed transactions referred to herein; the satisfaction of the Escrow Release Conditions; liabilities inherent in mine development and production; geological, mining and processing technical problems; Auryx Gold inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Auryx Gold undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

Qualified Person Statement.

Tim Searcy, PGeo, Auryx Gold's President, is a Qualified Person as defined under National Instrument 43-101. Mr. Searcy has reviewed and approved of all of the technical disclosure in this document.

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