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Contact: Connie M. Parratt
Investor Relations, 775-337-1545
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News Releases
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Drilling Commences At Long Canyon Project & Grouse Creek Project Acquired
AuEx Ventures Inc. ("AuEx") is pleased to announce the commencement of exploration drilling by joint venture partner NewWest Gold USA, Inc. at the Company's Long Canyon exploration project located in Elko County, Nevada. Additionally the Company is pleased to announce the acquisition of the Grouse Creek property located in the Battle Mountain-Eureka Trend, Lander County, Nevada.
The current Long Canyon drilling program, funded and operated by NewWest Gold USA, Inc., will consist of approximately 20 drill holes totaling 10,000 feet of reverse circulation drilling that is projected for completion by late August. Exploration in the fall of 2005 tested approximately 1,200 feet of the 4,000 foot Long Canyon exploration target and returned excellent results as previously reported (NR05-8). The current exploration program is designed to test an additional 1,500 feet of strike length of the exploration target both to the northeast and southwest of the area previously drilled. In addition, several holes will be drilled to test the down dip extension and continuity of gold mineralization identified in the fall of 2005. Access road and drill site construction has been ongoing since mid-June of this year and geological mapping and sampling of bedrock exposed by this work is underway.
The Grouse Creek property consists of 50 unpatented mining claims totaling about 900 acres located in the northern Shoshone Range on the Battle Mountain-Eureka Trend approximately 10 miles northwest of Barrick Gold's Pipeline gold mining complex. AuEx has agreed to pay mining claim maintenance fees due in August 2006 totaling $6,675. Surface rock chip sampling conducted on the property by the previous owner and AuEx has yielded numerous anomalous gold values from brecciated upper plate host rocks. Pathfinder geochemistry is strongly anomalous in arsenic, antimony and mercury and is suggestive of Carlin-style mineralization. Exploration targets on the property consist of mineralized fault zones within the upper plate rocks and geophysically indicated felsic intrusives which may indicate a different style of exploration target similar to the nearby Hilltop deposit. AuEx intends to conduct further surface rock chip sampling and geological mapping and will seek a joint venture partner for drilling.
AuEx Ventures, Inc. is a Nevada focused, precious metals exploration company that began trading on June 30, 2005. AuEx has a current portfolio of thirteen exploration projects in Nevada consisting of over 40,000 acres of fee land and unpatented mining claims with ten of these projects currently in joint venture agreements. AuEx 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
Contact:
Ronald L. Parratt
775-337-1545
Deborah Thiel
Manager Investor Relations
604-541-9655
This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements
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News Release.pdf