AuEx Ventures, Inc.
TSX VENTURE : XAU

AuEx Ventures, Inc.

March 17, 2008 08:02 ET

AuEx Acquires First Projects in Santa Cruz Province, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2008) - AuEx Ventures (TSX VENTURE:XAU) is pleased to announce that it has entered into a lease agreement with a private individual covering four mineral concessions ("MDs"), located in the highly prospective Deseado Massif area in Santa Cruz province, Argentina. In addition, the Company's wholly owned subsidiary, AuEx Argentina, S.A. has applied for six cateos which when combined with the MDs forms the Company's first five projects in Argentina.

The La Rosita and La Alianza leased MDs are located just north and east of the operating Martha Mine complex in the southwest portion of the Deseado Massif. La Rosita is the more advanced project with large areas of exposed alteration including veining and a database of hundreds of surface samples collected by AuEx and previous explorers. Areas of previously unmapped and un-sampled silicification have been identified and are currently being sampled by AuEx geologists. In addition, more detailed mapping and sampling of the veins is underway to outline potential drill targets associated with spatially coherent gold anomalism including samples exceeding one gram of gold. Neither of the properties have any prior drilling. Exploration by AuEx at La Rosita yielded anomalous gold mineralization on adjacent open ground as well and a cateo covering this area has been applied for.

The El Meridiano and Cerro Covadonga leased MDs are located in the central portion of the Deseado Massif. El Meridiano includes an area of intense silicification extending over one kilometer in length with cross-cutting structural splays containing anomalous gold mineralization. This silicification is surrounded by square kilometers of steam heated terrain near which recent satellite work identified a new area of veining and jarosite alteration. Cerro Covadonga is a large area of silicification which includes banded vein and boiling vein textures. Sampling to date at Cerro Covadonga is limited and only anomalous silver mineralization has been found. One cateo has been applied for adjacent to Cerro Covadonga.

The Company has also applied for three cateos in the northern portion of the Deseado Massif and one cateo in the eastern portion of the massif. The most interesting of these contains a silicified structural zone which is exposed for over half a kilometer and is anomalous in gold throughout. The regional generative exploration campaign by AuEx is continuing and, as well, more detailed mapping and sampling is underway on the recently acquired concessions with the goal of drilling in late 2008 or early 2009.

Exploration by AuEx in Santa Cruz Province is funded 70% by Agnico-Eagle (TSX:AEM)(NYE:AEM) under a defined generative exploration agreement. After properties are acquired, Agnico-Eagle has the option to enter into an exploration earn-in joint venture agreement on any or all of the acquired properties. With that election, Agnico-Eagle would be required to expend one million dollars per project to earn a 51% interest and has the option to earn 70% on any project by completing a feasibility study. If Agnico-Eagle declines to participate in a project, the property comes to AuEx with no remaining commitments, interest or consideration by Agnico Eagle.

AuEx Ventures, Inc. is a Tier 1 TSX.V listed precious metals exploration company that has a current portfolio of seventeen exploration projects in Nevada, one project in Spain and a generative exploration program in Argentina. Ten of the projects are in joint venture agreements with seven companies who provide exploration funding. The Company applies the extensive exploration experience and high-end technical skills of its founders and technical staff 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.

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