AuEx Ventures, Inc.
TSX VENTURE : XAU

AuEx Ventures, Inc.

April 29, 2008 08:00 ET

AuEx Ventures, Inc.: Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2008) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX VENTURE:XAU) is pleased to report that at least $7,000,000 in exploration expenditures are expected to be completed on AuEx properties in Nevada during 2008 funded by partners through exploration earn-in agreements, compared to approximately $4,700,000 in 2007. This activity will be dominated by the work program underway by Agnico-Eagle (US), Inc. at the Company's West Pequop property where two drills are presently active and by the work program planned to commence in early May by Fronteer Development Group, Inc. at the Company's Long Canyon property. Both West Pequop and Long Canyon are located in Elko County, Nevada.

The Company is working with its other Nevada partners to develop exploration plans for several other Nevada projects including Tournigan Gold Corp. at Fireball Ridge and Gypsum Valley, North Range Resources Ltd. at Bunce, Piedmont Mining Company at Pasco Canyon and Trinity Silver and Hawkeye Gold and Diamonds, Inc at Swiss Bank. Work at these properties is expected to commence in mid to late summer. Discussions are continuing with several parties regarding new exploration earn-in agreements on other AuEx owned or controlled exploration projects in Nevada including Antelope, Green Monster, North Klondike, Reef, Antelope, Hays Canyon and HUM. Although the discussions are encouraging, there is no assurance that any new agreements will be concluded.

In order to maintain its pipeline of exploration projects, the Company plans an aggressive generative exploration program for 2008. New projects from these efforts will replace existing projects that fail to produce encouraging results and to grow the US portfolio of exploration projects. Work activity in this regard is now underway by Company geologic staff and consultants and will be ongoing over the next several months.

In Spain, Betics Range Resources, a subsidiary of Longview Capital Partners, spent over 120,000 Euros during the last year conducting regional exploration but was unable to meet its spending requirement of 400,000 Euros by March 31st 2008. As a result, AuEx has terminated the agreement with Betics and is continuing exploration for its own account under the original Basti Resources agreement. The Company is encouraged by exploration results to date where regional stream sediment sampling, rock chip sampling, remote sensing and preliminary mapping have unveiled regional zoning to a new iron oxide-copper-gold province. The underground workings at Cerro del Gallo are now being inspected by an engineer for entry. AuEx plans to map these underground workings and use this data to further enhance geologic understanding of the mineral system. Cerro de Gallo was the first concession granted where surface samples on one 500m vein structure consistently assayed about 0.5% Cu and multi-gram gold as announced in press release NR07-19. Additional mineral concessions have been applied for as well and AuEx is funding further regional exploration work in the district. Other joint venture partners are being considered for the project.

In Santa Cruz Province, Argentina where regional exploration work is being funded 70% by Agnico Eagle, a total of nine concessions have now been applied for and four concessions have been acquired by lease through a private party. Initial rock chip sampling, remote sensing and geological mapping has been conducted on several of these and the Company expects to convert some of these areas from regional exploration to project level work. Agnico Eagle has the right to enter into exploration earn-in agreements on these properties and if they so elect, they would be obligated to spend the next $1,000,000 to vest a 60% interest in the project. A more detailed summary of the results of the 2007-2008 field season is planned once all field results are received and evaluated.

AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of eighteen exploration projects in Nevada, thirteen land positions in Argentina and one project in Spain. The Company controls over 80,000 acres of unpatented claims and fee land in Nevada. Nine of the projects are in exploration earn-in agreements with six 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.

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