AuEx Ventures, Inc.
TSX VENTURE : XAU

AuEx Ventures, Inc.

May 03, 2007 08:30 ET

AuEx Ventures, Inc.: 2007 Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2007) - AuEx Ventures, Inc. (AuEx or Company) (TSX VENTURE:XAU) is pleased to announce that it has contracted with Layne Christensen Company of Chandler, Arizona for a reverse circulation drill rig with an experienced crew that will begin drilling on May 9th and will continue drilling for approximately six months on AuEx projects. Exploration will begin at the Company's Bunce project located in Pershing County, NV under agreement with North Range Resources Ltd. This program will be the first in a series of seven Company projects that will be drilled during the 2007 field season. After the Bunce project, the rig will drill at the Company's Swiss Bank project under agreement with Hawkeye Gold and Diamonds, Inc., the Fireball Ridge and the Gypsum Valley projects under agreement with Tournigan Gold, Inc., the Leonid project under agreement with Nevada Superior, Inc., the Long Canyon project under agreement with NewWest Gold USA, Inc, and finally the Trinity Silver project under agreement with Piedmont Mining Company. Drilling at the West Pequop project under agreement with Agnico-Eagle (USA), Ltd. is being conducted with other drilling equipment provided by Agnico-Eagle. In aggregate, at all projects, the Company anticipates up to 70,000 feet of reverse circulation drilling during the 2007 field season and, in addition, core drilling will be conducted at the Long Canyon and the West Pequop projects all funded by partners. Commenting on the 2007 work plan, Ronald Parratt, President & CEO states; "2007 will mark the most active exploration year yet for AuEx. By working closely with our joint venture partners and securing control of a drill rig, we have ensured that exploration will proceed on our projects during 2007. Drilling is the key to discovery and we should have a very exciting year."

In addition to the drilling activity, the Company will perform field work consisting of geological mapping and sampling on existing Company projects including its newly acquired North Klondike property located in Esmeralda County, Nevada, the Green Monster property in Nye County, the Grouse Creek property located in Lander County, the Baza project in southern Spain and in Santa Cruz province, Argentina under the newly executed strategic alliance with Agnico-Eagle (USA), Limited. These efforts will advance exploration targeting ideas for the projects and make them more attractive for potential joint venture participation.

AuEx Ventures, Inc. is a Nevada focused, precious metals exploration company with a current portfolio of 17 exploration projects controlling over 50,000 acres of unpatented mining claims and fee land. 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 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.

Contact Information

  • AuEx Ventures, Inc.
    Ronald L. Parratt
    President & CEO
    (775) 337-1545
    or
    AuEx Ventures, Inc.
    Deborah Thiel
    Manager, Investor Relations
    (604) 541-9655