AuEx Ventures, Inc.
TSX VENTURE : XAU

AuEx Ventures, Inc.

October 31, 2006 08:01 ET

AuEx Ventures, Inc.: Long Canyon Road Cut Sampling Exposes New Gold Mineralization

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2006) - AuEx Ventures, Inc. (AuEx) (TSX VENTURE:XAU) is pleased to report the results of road cut chip channel sampling of newly constructed drill site access roads at the Company's Long Canyon gold exploration property located in Elko County, Nevada. Drill site and access road construction was funded by joint venture partner NewWest Gold USA, Inc.

Chip channel sampling of bedrock exposed in road cuts recently constructed to provide access for the 2006 drilling program has documented additional gold mineralization as listed in the following table. The new road cuts extend bedrock exposures northeast and southwest of the drilling access roads constructed and sampled in 2005. AuEx reported gold-bearing intervals obtained from sampling of the older roads in a news release dated September 8th, 2005. The new road cut results, supported by drilling results announced previously, indicate that the main gold-bearing zone extends approximately 3000 feet from the northeast to the southwest. Additionally, the road cut sampling and drilling of 2006 indicate that at least one other mineralized zone occurs on the property. Future work will address the extent and configuration of the newly recognized zones of mineralization.



Long Canyon 2006 Road Cut ChipChannel Sampling Program

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Average
# Location Footage Width Au grade High Au Footage Comments
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(feet) (feet) (oz/ton) (oz/ton) (feet)
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1 Road H1 to Area not yet
LC-30 0-40 40 0.272 0.308 20-30 drilled
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2 Road H1 Area not yet
to LC-30 270-300 30 0.020 0.028 270-280 drilled
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3 Road H1 Area not yet
to LC-30 830-850 20 0.038 0.043 840-850 drilled
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4 Road LC-24
to LC-30 1230-1300 70 0.017 0.024 1240-1250
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5 Road LC-24
to LC-25 338-400 62 0.042 0.057 350-360
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6 Road LC-28 Includes 14 feet
to LC-24 246-280 34 0.149 0.639 246-250 @ 0.310 oz/ton
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7 Road LC-28
to LC-24 330-430 100 0.037 0.071 360-370
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8A Road LC-11
to LC-21 160-200 40 0.014 0.019 180-190
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8B Road LC-11
to LC-21 290-330 40 0.131 0.232 300-310
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8C Road LC-11
to LC-21 380-410 30 0.029 0.057 380-390
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8D Road LC-11
to LC-21 430-450 20 0.021 0.022 430-440
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9 Road LC-10
to LC-20 10-20 10 0.043 0.043 10-20
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Each sample was taken following standard industry practice and was collected from approximately 10 feet or less of rock exposure. Each sample weighed approximately 1 to 2 kilograms. Intervals reported are continuous sets of samples exceeding 0.01 ounces per ton gold. All samples were prepared and 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. All data as disclosed in this press release including sampling, analytical and test data have been verified by the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and Certified Professional Geologist.

AuEx Ventures, Inc. is a Nevada focused, precious metals exploration company with a current portfolio of 15 exploration projects in Nevada controlling over 40,000 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 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

To view the map accompanying this press release, please click on the following link: http://www.ccnmatthews.com/docs/auex1.jpg.

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.
    Deborah Thiel
    Manager, Investor Relations
    (604) 541-9655
    Website: www.auexventures.com