AuEx Ventures, Inc.
TSX VENTURE : XAU

AuEx Ventures, Inc.

August 27, 2007 08:02 ET

AuEx Ventures, Inc.: Bunce Assay Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2007) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX VENTURE:XAU) is pleased to announce assay results from reverse circulation drilling completed recently on the Company's Bunce gold exploration project located in Pershing County, Nevada. The drill program was conducted by the Company as operator and funded by North Range Resources Ltd. under an exploration earn-in joint venture agreement.

The Company completed an initial phase of three reverse circulation holes totaling 3,240 feet of drilling on the western portion of the property west of a hole completed in 2006 by the Company. These holes were designed to test for deeper mineralization adjacent to and beneath a known, small zone of shallow oxide mineralization identified by earlier explorers and to confirm geophysical data concerning the thickness of Tertiary volcanic rocks. These holes confirmed the shallow zone of known mineralization and then encountered zones of anomalous gold mineralization (greater than 100 parts per billion) and elevated pathfinder chemistry in the deeper target. One of the holes did penetrate the Tertiary volcanic section bottoming in Triassic meta-sediments confirming the geophysical model. This information will be of importance in helping to define large basement faults which could be feeders to mineralization. Gold assay results greater than 0.01 ounces/ton are as follows;



Grade
Drill Hole Total Depth From To Thickness (in ounces/
Number (in feet) (in feet) (in feet) (in feet) ton)
BU-002 1,000 230 290 60 0.034
365 370 5 0.019
385 390 5 0.015
680 700 20 0.011
725 735 10 0.010
BU-003 960 0 55 55 0.033
BU-004 1,280 10 25 15 0.019


These results suggest that in this target area, the mineral system is weakening to the west and that further drilling is warranted to the east. The balance of the planned 2007 drilling program, consisting of an additional 20 holes, is now being permitted to further test this target area and other target areas on the property. This drilling will be completed in the fall of 2007.

All drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. QA/QC included the insertion of numerous standards and blanks into the sample stream. All intercepts are reported as drilled; true widths have not been calculated. All data disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and Certified Professional Geologist. Further details concerning the Bunce property are described in the Company's National Instrument 43-101 report filed on Sedar and additional data is on the Company's website.

AuEx Ventures, Inc. is a 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. The Company controls over 50,000 acres of unpatented claims and fee land. Eleven of the projects are in joint venture agreements with eight 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
    (775) 337-1545
    Email: rparratt@auex.com
    or
    AuEx Ventures, Inc.
    Deborah Thiel
    Manager, Investor Relations
    (604) 541-9655
    Email: dthiel@auex.com