AuEx Ventures, Inc.
TSX : XAU

AuEx Ventures, Inc.

March 11, 2009 16:45 ET

AuEx Ventures Closes $6.45 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) has issued 3,000,000 common shares and 1,500,000 common share purchase warrants ("Warrants") to raise proceeds of $6,450,000 pursuant to a non-brokered private placement announced on February 17, 2009. In February warrant holders exercised 1,871,200 of the 2,000,000 share purchase warrants outstanding at $1.38 to raise $2,582,256. The proceeds of the private placement combined with the proceeds of the warrant exercises and cash on hand at an exchange rate of 1.28 provides the Company with cash on hand of approximately US$10.75 million.

The Company is pleased to acknowledge the continued support of its most significant shareholders in this private placement. At the close of this private placement the Company has 29,315,928 common shares and 4,967,529 exchangeable shares outstanding for total voting securities outstanding of 34,283,457.

Each whole Warrant entitles the holder thereof to purchase one additional share in the capital of the Company at a price of $2.75 per share for the first year and $3.25 for the second year from closing the private placement. In the event that the volume weighted average trading price of the common shares of the Company trades at or above $4.12 per share within 20 consecutive trading days in the period commencing four months after the closing date and up to twelve months after the closing date or above $4.87 per share thereafter, the Company will have the right to accelerate the expiry date of the share purchase warrants to the date which is 30 days after notice is given to the holders of the Warrants of the accelerated expiry date.

The common shares issued, and any common shares issued pursuant to the exercise of Warrants prior to July 12, 2009, are restricted from trading until July 12, 2009.

Proceeds of this private placement will be used by AuEx for funding its participating interest in the Long Canyon Venture, maintenance and exploration of existing projects and general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 two projects in Argentina. The Company controls about 80,000 acres of unpatented mining claims and fee land in Nevada. Eleven 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 & 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, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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