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Fact Sheet
June 23, 2010
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| Common Shares Issued |
39,015,771 |
| Exchangeable Shares |
4,414,370 |
| Shares Issued and Outstanding |
43,430,141 |
| Options Outstanding |
4,067,800 |
| Warrants Outstanding |
642,750 |
| Fully Diluted |
48,140,691 |
| % Held by Insiders |
22.25% |
Corporate Profile
AuEx Ventures, Inc. is a Nevada-based precious metals exploration company that was formed in 2003 to capitalize on the in-depth experience, technical capability and historical successes of the founding management team. Today, the Company trades on the Toronto Stock Exchange under the symbol XAU.
AuEx controls over 167,000 acres of unpatented claims and fee land in Nevada/Utah, and has a current portfolio of 21 exploration projects, ten of which are under exploration earn-in or joint venture agreements with seven companies who provide funding for exploration activities. In addition, AuEx has one large new copper-gold district in southern Spain and four projects in Santa Cruz Province, Argentina that are in earn-in agreements, bringing the toal to 15 projects in earn-in/joint venture agreements.
The AuEx team combines extensive global field experience with highly developed quantitative skills. Many techniques within AuEx are proprietary. The Company's conservative business approach using the joint venture model with a low overhead burn rate provides less exposure to risk, a high probability of technical success, and a tight share structure.
Ronald L. Parratt is Co-Founder, President, CEO of AuEx Ventures, Inc.
As a Sante Fe Pacific Gold's World Wide Exploration Manager, Ron was involved in the discoveries of three gold deposits in Nevada totaling more than 10 million ounces (Rabbit Creek, now part of Twin Creeks, Lone Tree, and Trenton Canyon). His experience led him to be appointed as Director of North and South America for Homestake Mining in the late 1990's.
Richard L. Bedell is Co-Founder, Executive Vice President of AuEx Ventures, Inc. and President of AuEx Argentina, S.A.
Previously, Richard served as Homestake Mining Company's Technical Manager, utilizing his international field expertise in structural geology, remote sensing, and alteration mapping. As an Independent Consultant, Richard has worked with some of the largest gold companies in the world. He is currently an Adjunct Faculty member in Exploration Geophysics at the Mackay School of Earth Sciences and Engineering in Reno, NV.
Innovative Technology
Refining the art of mineral exploration is a primary goal of AuEx management. The Company employs leading edge exploration techniques and technology for ore deposit vectoring including: proprietary remote sensing, spatial probability modeling, and multivariate statistical analysis. Data is then combined with field geology and alteration mineralogy for the purpose of target selection, property acquisition, and joint venture development.
Joint Venture Business Plan
At AuEx, we believe that the joint venture business plan is the most effective exploration strategy for non-revenue-generating junior explorers. By adopting this business plan, we are accepting dilution to our exploration property positions rather than dilution to our shareholders. AuEx is committed to minimizing risk by developing a portfolio of exploration projects and leveraging out exploration risk to joint venture partners. A mineral discovery at any project in the portfolio, even at a 30% to 49% participation level, will translate meaningfully into increased shareholder value through tighter share structure. Other benefits of the business plan include reducing AuEx operating costs through cost recovery from joint venture partners and knowledge gained through experience and technical strengths of our partners.
Nevada Exploration
Nevada is a premier gold and silver producing region and is viewed by management as a strategic region for future mineral discovery and production. AuEx intends to optimize opportunities in Nevada that are presented by low cost exploration, advanced industry infrastructure, and declining regional mineral production.
EXPLORATION HIGHLIGHTS
The Pequop Mining District: The New Gold District in Nevada
Long Canyon:
- New Carlin-type mineral deposit that has multiple zones of gold mineralization
- High-grade, near surface, oxide gold deposit, open-pit amenable
- 8,532 feet long and ~ 1,000 feet wide - open on strike and depth to the north, east, and west in eastern foothills of the Pequop Mining District
- Initial NI 43-101 report released in March 2009, announced an Indicated Resource of 363,000 oz Au (4,808,000 tonnes averaging 2.35 g Au/T) and 459,000 oz Au of Inferred Resource (8,780,000 tonnes averaging 1.63 g Au/T). A cutoff-grade of 0.30 g Au/T is used to tabulate the resources
- Column-Leach Tests 2009
- Preliminary Economic Assessment 2009
- AuEx Ventures, Inc. is 49% Owner
West Pequop:
- Gold mineralization occurs in at least 3 distinct stratigraphic positions within the enclosing Cambrian and Odovician limestone and dolomite assemblages
- Gold mineralization is commonly associated with faulting felsic dikes and solution collapse breccias. Maps showing the locations of drill holes at West Pequop are posted on the company's website
- Three known deposits at West Pequop are Acrobat, Section 34, and Mountain Top
- AuEx Ventures, Inc. is 49% Owner
2009 proved to be a very exciting and productive year for AuEx and its funding partners with a combined exploration budget that exceeded USD $25 million. The budget included expenditures on four projects in the new Pequop Mining District. Long Canyon, the star of the Pequop District, is rapidly developing as one of Nevada's future low cost gold producers. Significant advancements were also made on numerous other projects in Nevada, Argentina, and Spain.
The 2010 exploration program for the Long Canyon Venture will consist of 45,500 meters (150,150 feet) of reverse circulation and core drilling. The program is designed to extend gold mineralization to the southwest, to increase the confidence level of the known gold mineralization in the northeast, and to discover new gold mineralization on the 12,000 acre property. Engineering, environmental, hydrological, metallurgical, permitting, and land and legal programs are ongoing.
Agnico-Eagle continues an aggressive exploration program for the West Pequop Venture with a budget of approximately $3 million. The 2010 exploration and drilling programs are designed to expand known gold-bearing zones and discover new gold mineralization in other areas identified by surface sampling and geological mapping. The initial NI 43-101 Technical Report is planned to be released in Q2 2010.
Other Nevada Properties:
AuEx has applied for permits to drill at the Buffalo Canyon and Green Monster projects on behalf of earn-in partner, Eldorado Gold Corporation. NuLegacy Gold, earn-in partner on the Wood Hills South project, plans to drill in late 2010 and to complete geophysics and soils on the project. Golden Dory Resources, earn-in partner on the Pequop South project, plans to drill on the property in 2010.
Argentina:
AuEx has a strategic alliance with Agnico-Eagle in Santa Cruz Province, Argentina for generative exploration in which costs are shared 30/70. AuEx has applied for exploration rights on 11 parcels and has leased exploration rights on 4 parcels. These define thirteen distinct land packages of mineral rights totaling almost 90,000 hectares (216,000 acres). To date, Agnico-Eagle has accepted earn-in agreements on four projects: Meridiano, Gertrudis, La Rosita, and Covadonga, and has committed to fund 100% of the costs. Drilling is planned in 2010 at Meridiano, Gertrudis, and La Rosita.
Spain:
AuEx's Baza project in southeastern Spain is a new large Iron Oxide Copper Gold (IOGC) District where regional stream sediment sampling has been conducted and follow-up rock chip sampling completed. A ground magnetic survey has been completed on the most advanced prospects of Cerro del Gallo and Valenciano. A regional-scale helicopter magnetic, radiometric, and EM survey is being planned for the first half of 2010. In October 2009, AuEx Ventures, Inc. announced the purchase of Basti Resources S.L. ("Basti") and the execution of an exploration earn-in agreement with Western Uranium Corporation (TSX: WUC). WUC's budget for exploration activity for Baza is $1.5 million with the first drilling anticipated in March 2010.
Summary of AuEx Project Holdings as of March 31, 2010
| Nevada |
| Arabia |
100% Owned |
| Buffalo Canyon |
Eldorado Gold JV |
| Bunce |
100% Owned |
| Fireball Ridge |
100% Owned |
| Goldstar |
100% Owned |
| Green Monster |
Eldorado Gold JV |
| Hays Canyon |
Christopher James Gold Corp JV |
| JPW |
100% Owned |
| Leonid |
100% Owned |
| Long Canyon |
Fronteer Development Group JV |
| Olympic |
100% Owned |
| Pasco Canyon |
Christopher James Gold Corp JV |
| Pequop South |
Golden Dory Resoures, Corp JV |
| Reef |
100% Owned |
| Rose Mine |
100% Owned |
| Sinter |
Christopher James Gold Corp JV |
| Spruce Mountain |
100% Owned |
| Trinity Silver |
Liberty Silver Corp JV |
| West Pequop |
Agnico-Eagle (USA), Ltd. JV |
| Wood Hills South |
NuLegacy Gold Corp JV |
| Utah |
| Wildcat |
100% Owned |
| Spain |
| Baza |
Western Uranium Corp JV |
| Argentina |
| Covadonga |
Agnico-Eagle (USA), Ltd. JV |
| Gertrudis |
Agnico-Eagle (USA), Ltd. JV |
| La Rosita |
Agnico-Eagle (USA), Ltd JV |
| Meridiano |
Agnico-Eagle (USA), Ltd. JV |
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