AuEx Ventures, Inc.

AuEx Ventures, Inc.

May 01, 2007 08:30 ET

AuEx Ventures, Inc.: West Pequop Drilling Commences

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - AuEx Ventures, Inc. (AuEx or Company) (TSX VENTURE:XAU) is pleased to announce that its joint venture partner Agnico-Eagle (USA), Limited (Agnico-Eagle) has commenced reverse circulation drilling at the Company's West Pequop exploration project located in Elko County, Nevada. Drilling will initially be focused in the Section 34 Target area that produced significant drill results during 2006 as reported by the Company in press release NR07-02 dated January 9, 2007. Reverse circulation and core drilling are planned in other areas of the project during the 2007 field season including Acrobat and Juggler.

AuEx is also pleased to announce that the West Pequop Joint Venture Agreement between Agnico-Eagle (USA), Ltd. and AuEx was signed on April 6, 2007 replacing the Letter of Intent signed by the parties in May 2006. All terms and conditions as described in the May 2006 Letter of Intent were incorporated into the final agreement and in addition, a backstop financing provision was added that would be available to the Company under certain circumstances.

AuEx Ventures, Inc. is a Nevada focused, precious metals exploration company with a current portfolio of 16 exploration projects in Nevada controlling over 50,000 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 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 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
    President & CEO
    (775) 337-1545
    AuEx Ventures, Inc.
    Deborah Thiel
    Manager, Investor Relations
    (604) 541-9655