Exploration Continues On AuEx Properties

RENO, NV - AuEx Ventures, Inc. reported that at least $7,000,000 in exploration expenditures are expected to be completed on AuEx properties in Nevada during 2008 funded by partners through exploration earn-in agreements, compared to approximately $4,700,000 in 2007. This activity will be dominated by the work program underway by Agnico-Eagle (US), Inc. at the Company's West Pequop property where two drills are presently active and by the work program planned to commence in early May by Fronteer Development Group, Inc. at the Company's Long Canyon property. Both West Pequop and Long Canyon are located in Elko County, Nevada.
The Company is working with its other Nevada partners to develop exploration plans for several other Nevada projects including Tournigan Gold Corp. at Fireball Ridge and Gypsum Valley, North Range Resources Ltd. at Bunce, Piedmont Mining Company at Pasco Canyon and Trinity Silver and Hawkeye Gold and Diamonds, Inc at Swiss Bank. Work at these properties is expected to commence in mid to late summer. Discussions are continuing with several parties regarding new exploration earn-in agreements on other AuEx owned or controlled exploration projects in Nevada including Antelope, Green Monster, North Klondike, Reef, Antelope, Hays Canyon and HUM. Although the discussions are encouraging, there is no assurance that any new agreements will be concluded.
In order to maintain its pipeline of exploration projects, the Company plans an aggressive generative exploration program for 2008. New projects from these efforts will replace existing projects that fail to produce encouraging results and to grow the US portfolio of exploration projects. Work activity in this regard is now underway by Company geologic staff and consultants and will be ongoing over the next several months.
The company's address is 940 Matley Lane, Suite 17, Reno, NV 89502, 775-337-1545, fax: 775-337-1542, email: [email protected].