AuEx Ventures, Inc.
TSX : XAU

AuEx Ventures, Inc.

November 18, 2008 07:00 ET

AuEx Ventures, Inc.: Gold Mineralization Extended Further at Long Canyon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2008) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) is pleased to report new gold drill intercepts, including hole LC149 returning 80 feet (24.4 meters) at 0.091 ounces per ton (3.12 grams per tonne), and hole LC147 returning 25 feet (7.6 meters) at 0.088 ounces per ton (3.01 grams per tonne) that extends shallow, oxide gold mineralization another 328 feet (100 meters) northeast along strike at the Company's 49% owned Long Canyon gold exploration project located in Elko County, Nevada. Fronteer Development Group Inc. ("Fronteer"), operator and 51% owner, provided these results to the Company from 12 additional holes completed since the 2008 drilling program commenced in May. A total of 58 holes from the 2008 program have now been reported from over 120 that have been drilled so far (to view the attached map please click on: http://media3.marketwire.com/docs/xau1118.pdf). The combination core and reverse circulation drilling program continues with two core drills and two reverse circulation drills active on the property. Work is expected to continue until late November before the 2008 program is concluded. Commenting on the results, Ronald L. Parratt, President and CEO, stated, "The Long Canyon gold system continues to grow and is still open. A number of additional holes will be completed this year, however it appears that the mineral system will still not be closed off keeping the door open to extend mineralization further in 2009." The following table summarizes the new reportable assay results:



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Inter- Inter-
cept From To cept
From To Length Au Au (met- (met- Length Au
Hole ID (feet) (feet) (feet) (ppb) (oz/ton) res) res) (metres) (gpt)
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LC107C 136 178.2 42.2 4812 0.141 41.5 54.3 12.8 4.81
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including 139 142.2 3.2 5532 0.162 42.4 43.4 1.0 5.53
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151 165.1 14.1 8160 0.238 46.0 50.3 4.3 8.16
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168.2 171 2.8 9047 0.264 51.3 52.1 0.8 9.05
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196 215.7 19.7 493 0.014 59.8 65.8 6.0 0.49
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LC111C 131 216 85 2183 0.064 39.9 65.9 25.9 2.18
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including 186 191 5 11598 0.339 56.7 58.2 1.5 11.60
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206 210.7 4.7 7943 0.232 62.8 64.2 1.4 7.94
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LC114C 132 192 60 1369 0.040 40.2 58.5 18.3 1.37
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193.5 217 23.5 6113 0.179 59.0 66.2 7.2 6.11
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including 193.5 197 3.5 7869 0.230 59.0 60.1 1.1 7.87
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201 209 8 12805 0.374 61.3 63.7 2.4 12.81
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322 337 15 3646 0.106 98.2 102.7 4.5 3.65
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including 329 331.2 2.2 18598 0.543 100.3 101.0 0.7 18.60
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LC121C 156 161 5 1413 0.041 47.6 49.1 1.5 1.41
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LC141 440 485 45 4953 0.145 134.1 147.9 13.8 4.95
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including 455 475 20 8520 0.249 138.7 144.8 6.1 8.52
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LC147 345 360 15 645 0.019 105.2 109.8 4.6 0.65
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370 395 25 3011 0.088 112.8 120.4 7.6 3.01
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including 380 385 5 5918 0.173 115.9 117.4 1.5 5.92
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LC149 365 445 80 3119 0.091 111.3 135.7 24.4 3.12
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including 370 380 10 9867 0.288 112.8 115.9 3.0 9.87
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470 500 30 1642 0.048 143.3 152.4 9.1 1.64
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Drill holes LC144-145 and LC150-152 had no reportable intercepts.
Drill hole ID numbers ending with a "C" indicate core holes with all
others being reverse circulation holes.


Gold mineralization is present at Long Canyon in a series of multiple, parallel northeast directed zones with a strike length of approximately 1.1.miles (1.7 kilometers) hosted within a sequence of Cambrian and Ordovician limestone and dolomite. Mineralization is oxidized, starts at the surface and is mostly, if not entirely, above the water table. The mineralization is still open to the northeast and 1,600 feet (480 meters) of surface anomaly on the southwest defined by gold soil chemistry and gold outcrop sample data is still undrilled. Access road and drill site construction is continuing in the southwest area however drilling is unlikely in 2008.

In addition to drilling, Fronteer continues to develop additional detailed geological mapping, soil geochemistry and geophysics as aids to understanding the distribution and controls of gold mineralization. This work is also developing new exploration targets on the large Long Canyon property. An NI 43-101 resource estimate will be generated for Long Canyon at the conclusion of the 2008 exploration program and is expected to be completed in late January or early February 2009.

As reported to AuEx by Fronteer, 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. Samples exceeding 10 grams per tonne gold were re-assayed using a gravimetric finish and the values received were reported in the averages. QA/QC included the insertion of numerous standards and blanks into the sample stream. Check assays and preliminary cyanide amenability testing is underway. All intercepts are reported as drilled using a 0.30 gram/tonne cut-off; true widths have not been determined. All data, as reported to the Company by Fronteer and disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person, Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist. Further details concerning the Long Canyon property are described in the Company's National Instrument 43-101 report filed on Sedar and are on the Company's website.

AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of twenty exploration projects in Nevada, one project in Spain and five 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 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.

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