Auryx Gold Corp.
TSX : AYX

Auryx Gold Corp.

April 13, 2011 08:30 ET

Auryx Gold Drilling Identifies Two New Zones of Mineralization at the Otjikoto Gold Project in Namibia

TORONTO, ONTARIO--(Marketwire - April 13, 2011) - Auryx Gold Corp. ("Auryx" or the "Company") (TSX:AYX)(NSX:AYX) is pleased to announce the discovery of two new zones of mineralization at the Otjikoto gold project in Namibia and the assay results from 17reverse circulation ("RC") holes drilled to the southwest of the current resource. (For the drill hole locations, please follow the links http://auryxgold.com/projects/otjikoto_drill_program/plan_views/all_holes_apr_11/ and http://auryxgold.com/projects/otjikoto_drill_program/plan_views/southwest_inset_apr_11/).

These holes, in addition to those previously drilled in the region, combine to define two new zones of mineralization at Otjikoto. One zone, the SW Hanging-wall zone, is defined by the TRH holes. It is a near surface, stratabound zone in the hanging-wall. The other zone, the West 1 shoot, is a narrow, structurally controlled zone parallel to the West shoot and the Main shoot, the main mineralized bodies of the Otjikoto resource. Both new zones fall within a conceptual pit that was modelled by the previous operators, Teal Exploration & Mining Inc., in 2009.

Auryx's CEO, Mr. Searcy comments: "The discovery of new mineralized zones in what is essentially an in-pit environment is very positive for the Otjikoto project and confirms the Company's view that there is potential for discovery of more mineralized shoots along strike and along dip from the current resource at Otjikoto. Furthermore, the ability to discover new zones in a region that has had significant drill testing in the past bodes well for the discovery potential in regions that have received limited drilling previously."

Drill Results
Table 1: Otjikoto Drilling Results 13 April 2011
Hole IDFromToInterceptGradeTrue
Thickness
(m)(m)(m)(g/t)(m)
OTR27610410512.660.9
OTR28311712143.143.6
and14915121.721.8
TRH10404111.310.9
TRH11545620.571.8
TRH126072120.5010.8
TRH13no significant intercepts
TRH14293341.113.6
TRH15434840.603.6
TRH165064140.5612.6
including566041.203.6
TRH17667590.718.1
including707112.240.9
TRH18778371.000.9
TRH19no significant intercepts
TRH20343620.621.8
TRH21no significant intercepts
TRH22656830.412.7
TRH23737960.525.4
TRH24859271.826.3
including868717.210.9

Cross sections for lines 6350 and 6450 have been constructed; they can be viewed at http://auryxgold.com/projects/otjikoto_drill_program/cross_sections/. These sections show the locations of the SW Hanging-wall zone and the West 1 shoot in relation to the West shoot and a previously modelled pit outline. The proximity of both of these zones to a modelled pit suggests that there is potential to increase the recoverable resources at Otjikoto without significant expansion of the pit.

Drilling is ongoing at Otjikoto. A fourth diamond drill ("DD") rig was recently added to site and an RC rig will be added when the ground has dried out.

Since taking over the project, Auryx has drilled 47DD holes for 15,556m and 85RC holes for 6,919m at Otjikoto. As of today, results from 12DD and 35 RC holes have been released. The location of all holes drilled at Otjikoto, including the 17 for which assays were most recently received, can be reviewed on a drill hole map in plan view. To view the drill hole locations, please follow the link http://auryxgold.com/projects/otjikoto_drill_program/plan_views/all_holes_apr_11/.

Corporate Update

Auryx has streamlined the titles of certain executives, Tim Searcy, who was President and acting in the role of CEO will take the title of CEO and Heye Daun, who was President of Africa and Operations will become President. Alan Rootenberg will be resigning from the role of CFO, after delivering the March quarter-end financials. He will be replaced internally with Willie Viviers who will take the role of Interim-CFO.

Quality Assurance/Quality Control

Auryx operates a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and split in half. One half of the NQ core is maintained for future reference and the other half is sent for analysis. Due to the significant nugget effect present at Otjikoto, Auryx consistently samples only the south half of the core in order to avoid personal bias from affecting the samples and, ultimately, the resource. Core and RC samples are both collected in one (1) meter intervals. Each RC sample is riffle split twice to generate four further samples – primary assay, field duplicate, reference, and metallurgical. All core and RC samples are stored in the company's secure core shack in Otjiwarongo and are transported from there and beyond by independent couriers.

Samples are screen fire assayed at Genalysis and SGS laboratories, both of which are in located in Johannesburg, South Africa. Analysis is by screen fire assay process whereby the sample is pulverized and sieved with into +106μm and -106μm fractions. The +106 fraction is assayed until completion, typically 10g to 50g. At SGS a 50g aliquot is split from the -106 fraction and assayed, while at Genalysis, two 25g aliquots are split and assayed.

The final assay result is calculated by a weighted average of mass x grade of the two size fractions divided by the total mass of the un-split sample. For both core and RC blanks are inserted at every 25th sample and standards (for each size fraction) for every 20th sample. For the RC only, duplicates are submitted at every 20th sample.

These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample. For a more detailed description of QA/QC procedures please see the SRK 43-101 report dated 31 March 2010, available at www.sedar.com.

About Auryx Gold Corp.

Auryx Gold Corp. (TSX:AYX) is a Canadian, growth-focused resource company engaged in the acquisition and exploration of gold projects in Namibia. The Company is currently advancing the Otjikoto gold deposit, located 300km north of Namibia's capital city, Windhoek. By virtue of its location, the Project benefits significantly from Namibia's well established infrastructure with paved highways, a railway, power grids, and the water grid all close by. Located in southwest Africa, Namibia is mining-friendly and lauded as one of the continent's most politically and socially stable jurisdictions.

On behalf of the Board of Directors

Tim Searcy, P.Geo., CEO

Cautionary Notes

Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking information which include management's assessment of Auryx Gold future plans and operations and are based on Auryx Gold current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These risks and uncertainties include, but are not limited to: successful completion of the proposed transactions referred to herein; the satisfaction of the Escrow Release Conditions; liabilities inherent in mine development and production; geological, mining and processing technical problems; Auryx Gold inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Auryx Gold undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

Qualified Person Statement.

Tim Searcy, PGeo, Auryx Gold's President, is a Qualified Person as defined under National Instrument 43-101. Mr. Searcy has reviewed and approved of all of the technical disclosure in this document.

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