Gunpoint Exploration Ltd.

Gunpoint Exploration Ltd.

February 16, 2010 09:00 ET

Christopher James Gold Corp. Signs Agreement on Pasco Canyon Epithermal Gold-Silver Project in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2010) - Christopher James Gold Corp. (TSX VENTURE:CJG) is pleased to announce that it has signed an exploration earn-in agreement with AuEx Ventures Inc. (TSX: XAU) on the Pasco Canyon epithermal gold project in Nevada. The Pasco Canyon project is located on the east side of the Toquima Range in Northern Nye County, Nevada in close proximity to the Round Mountain, Gold Hill and Northumberland gold mines.

The Pasco Canyon project consists of 24 unpatented lode claims covering a 400 metre by 600 metre area of brecciated tertiary volcanics with a stockwork of high-level epithermal veins showing bladed carbonate-replacement-textures and associated with anomalous pathfinder geochemistry. Previous exploration consists of two holes drilled in the pediment cover to the east of outcropping alteration and mineralization, and which subsequent work shows, were drilled 300 metre below and parallel to the west dipping mineralized zone. These holes were drilled several years ago, prior to access permits being obtained from the US Forest Service resulting in them not being able to access the mineralized ridge. The exploration planned for 2010 will consist of several lines of IP/Resistivity and a ground magnetic survey to obtain a better structural understanding prior to sighting several preliminary 200 metre drill holes, designed to test for high-grade epithermal mineralization at depth.

Under the terms of the Agreement, Christopher James paid AuEx USD$10,000 on signing and is committed to spend a minimum of USD$100,000 during the first year. Christopher James will then have 5 additional years with escalating annual work commitments to spend a minimum total of USD$5,000,000 in order to earn a 70% interest in the Pasco Canyon project. The Company can vest an initial 51% undivided interest in the Property by spending USD$3,000,000 within the first four years.

Dr. E. Max Baker, President and CEO of Christopher James, stated: "This epithermal gold project and the association with AuEx Ventures marks an exciting progression in the Company's continuing efforts to shift its focus to exploration for epithermal gold mineralization in Nevada and Mexico. Pasco Canyon represents what the Company considers to be an ideal drill-ready exploration project being located in proximity to large mines, good geological and geochemical indications of mineralization at depth, and being a realistically priced and structured deal. With drilling planned for the second half of 2010 at both Pasco Canyon and nearby Highland-Buz projects, we are looking forward to an eventful year."

About Christopher James Gold

Christopher James Gold Corp. continues to actively pursue exploration opportunities in the USA and Mexico with its current focus on four recently optioned gold projects in Nevada, one of the world's major gold producing districts. The Company has additional lines of IP planned for the Highland/Buz and Pasco Canyon gold projects in Nevada during 2010, and plans to drill these projects later in the year.

About AuEx Ventures

AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of twenty one exploration projects in Nevada, one project in Spain and three projects in Argentina. The Company controls about 167,000 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. 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.

The Company is a reporting issuer in British Columbia and Alberta, and trades on the TSX Venture Exchange under the ticker symbol CJG. Please visit

E. Max Baker B.Sc(Hons) PhD, Member AustIMM is the Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this News Release, which is based on information obtained from the Joint Venture Partner.

On behalf of the Board,

E. Max Baker, President, CEO Christopher James Gold Corp.

This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, Christopher James Gold Corp. does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the British Columbia Securities Commission, which can be viewed at

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

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