AuEx Ventures, Inc.

AuEx Ventures, Inc.

September 08, 2005 08:00 ET

AuEx Ventures, Inc.: Pequop Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 8, 2005) - AuEx Ventures, Inc. (AuEx) (TSX VENTURE:XAU.U) is pleased to announce the commencement of drilling and to report the results of road cut chip channel sampling at its Pequop property located in Elko County, Nevada.

A reverse circulation drill rig was mobilized to the Pequop property in late August and drilling commenced September 7 on the eastern portion of the property at the Long Canyon target. Approximately 8 holes are planned on the Long Canyon target followed by an additional 10 holes on the western side of the property at the Juggler and Acrobat targets. All drilling is expected to be completed by the end of September.

The Long Canyon target is approximately 5,000 feet long and up to 1,000 feet wide and is defined by geologic mapping, grid soil geochemistry and rock chip sampling. Seven angle reverse circulation drill holes were completed by the previous operator testing the northeastern most 1,200 feet of the target with one hole reporting 80 feet grading 0.072 ounces per ton gold starting from the surface. The other six holes contained only anomalous gold values. Evaluation by AuEx suggested that these west directed angle holes drilled beneath a northwest-dipping zone of mineralization. Chip channel sampling of roadcuts constructed to the northwest of the earlier drilling has exposed mineralization that appears to be consistent with this interpretation. Results reported from this work include:

50 feet averaging 0.079 ounces per ton gold,
40 feet averaging 0.099 ounces per ton gold,
44 feet averaging 0.053 ounces per ton gold,
39 feet averaging 0.024 ounces per ton gold,
66 feet averaging 0.034 ounces per ton gold and
97 feet averaging 0.126 ounces per ton gold.

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 0.015 ounces per ton gold. The current drilling at Long Canyon will be directed to the southeast to evaluate what is thought to be generally northwest dipping mineralization.

Drilling at the Juggler and Acrobat targets on the west side of the property will further test mineralization discovered there by the previous operator. Results from these previous holes were reported in the National Instrument 43-101 report prepared for AuEx and available on Sedar. The new holes will seek to extend this mineralization and confirm geologic controls and interpretations.

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 new, Nevada focused, precious metals Exploration Company that completed its Initial Public Offering on June 28, 2005 and began trading on June 30, 2005. AuEx has a current portfolio of 12 exploration projects in Nevada and controls over 40,000 acres of unpatented claims and fee land. 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.

By: Ronald L. Parratt, President and CEO

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