Acrex Ventures Ltd

Published : June 06th, 2011

' Rainbow Canyon Property Purchase Accepted By Stock Exchange and Rock Sampling Program Confirms Wid

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Keywords :   Diamond | Gold | Silver |

Monday, June 06, 2011 NEWS RELEASE
 
 
Acrex Ventures' Rainbow Canyon Property Purchase Accepted By Stock Exchange
Rock Sampling Program Confirms Widespread Gold Mineralization on the Property

Acrex Ventures Ltd. (the "Company") Acrex Ventures Ltd. is pleased to announce that the TSX Venture Exchange has accepted for filing the Purchase Agreement pursuant to which the Company agreed to purchase the Rainbow Canyon property from Gold (USA) Invest, Inc. (a wholly owned subsidiary of Entr�e Gold Inc.). The Purchase Agreement was detailed in the Company's News Release dated March 31, 2011. The purchase price of the property is $125,000 (US) cash. A 3.0% NSR royalty is reserved to the vendor subject to the Company's option to purchase up to a 2.0% NSR royalty from the vendor by the payment of $500,000 for each 1.0% NSR royalty purchased.

In April, 2011, Acrex completed rock sampling of the same sites as were sampled by PacMag Metals (now Entr�e Gold Inc) in 2009 in order to confirm the results of the earlier PacMag sampling. Grab samples taken by Acrex and PacMag consisted of quartz vein, quartz veinlet and altered wallrock material that occurs in prospect pits, rock dumps, trenches and some outcrop on the claims. Results show that, of the 30 sites sampled in both years, 20 of the 30 Acrex samples have >0.50 g/t gold and 14 samples had > 1.0 ppm Au with a maximum, in one sample, of 48.2 g/t gold. These compare favorably with the 2009 PacMag samples where 24 of the 30 coincident samples had >0.50 g/t gold and 19 samples had > 1.0 g/t Au - one with a maximum value of 20.86 g/t Au.

The Company also staked an additional 48 claims (960 acres/388.5ha) to the south and west of the purchased claims, almost doubling the size of the claim holdings. Attached is a copy of a map of the property.

The Rainbow Canyon property is located within a mining friendly jurisdiction. The Rainbow Canyon gold mineralization is thought to be similar in age and host rock type to the nearby Comstock Mine. The property is situated within the Walker Lane structural belt which is host to several major gold and silver deposits with historical production records, including the bonanza gold vein deposits of the Comstock Mine (7.65 Moz. gold and 177.0 Moz. silver), as well as large bulk-mineable gold-silver deposits such as the Rawhide Mine (1.5Moz. gold), and Paradise Peak (1.6 Moz. gold and 22.0 Moz. silver).

As was disclosed in the Company's New Release dated March 25, 2011, the Company had prepared and filed a 43-101 compliant report on the purchased claims by J. Allan McNutt, P.Geo. In the report, dated May 18, 2011, Mr. McNutt has recommended a work program on the property, which includes 2,000 meters of Diamond drilling, at an estimated cost of $480,000. The report can be viewed on SEDAR or on the Company's website.

The recent exploration program on the Rainbow Canyon property was supervised by Mr. J. Allan McNutt, P.Geo. Mr. McNutt has reviewed and verified the contents of this news release and is the Company's Qualified Person for the purposes of National Instrument 43-101.

With the continued strength in the gold price Acrex is well positioned for 2011.



FOR FURTHER INFORMATION ON ACREX VENTURES PLEASE CONTACT:
 
Investor Relations - Tel: (604) 618-1758
Fax: (604) 277-0815
e-mail: info@acrexventures.com
website: www.acrexventures.com
 
 
ACREX VENTURES LTD.

Per:
   T.J. Malcolm Powell,
   President

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
 

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�2011 Acrex Ventures Ltd.
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Stock Symbol: TSX-V: AKV
Suite 2300-1066 West Hastings Street
Vancouver, British Columbia
Canada V6E 3X2
Tel: 604.618.1758
Fax: 604.277.0815

Acrex Ventures Ltd

DEVELOPMENT STAGE
CODE : AKV.V
ISIN : CA0049371085
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Acrex Ventures is a silver and gold exploration company based in Canada.

Its main asset in development is SPANISH MOUNTAIN in Canada and its main exploration property is GRIZZLY-KELLAR LAKE in Canada.

Acrex Ventures is listed in Canada and in United States of America. Its market capitalisation is CA$ 407 600 as of today (US$ 382 492, € 280 252).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 0.46, and its lowest recent point on July 09, 2014 at CA$ 0.01.

Acrex Ventures has 40 760 000 shares outstanding.

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Annual reports of Acrex Ventures Ltd
2007 Annual report
2006 Annual report
Project news of Acrex Ventures Ltd
12/13/2011(Spanish Mountain)Continues to Define a Gold-Bearing Corridor on its Spanish M...
9/13/2011Commences Exploration on its Rainbow Canyon Gold Property, N...
8/4/2011Plans Drill Program for its Rainbow Canyon Property, Nevada
5/3/2011Provides Update on its Rainbow Canyon Gold Property in Nevad...
3/31/2011Purchases Nevada Gold Property
8/23/2010(Spanish Mountain)Extends Priority Gold Target On Its Spanish Mountain Propert...
8/10/2010(Spanish Mountain)Discovers Priority Gold Target On Its Spanish Mountain Prope...
7/6/2010(Spanish Mountain)Completion of Soil Sampling and Prospecting Programs
1/8/2009Intersects Gold in Diamond Drilling of Don's Lake Gold Prope...
12/31/2008(Honeymoon Property)grants options, files SEC Deregistration and terminates Hone...
11/5/2008(Don's Lake)Completes Diamond Drilling Program on Don's Lake Gold Proper...
9/4/2008Undertakes Diamond Drilling on its Don's Lake Gold-Uranium P...
7/30/2008(Timmins - Whitney Township)Moneta JV Confirms and Expands "55 Zone" Gold Mineralization...
Corporate news of Acrex Ventures Ltd
12/16/2013Holiday Wishes from all of us at Acrex Ventures
8/22/2012(Spanish Mountain)Closes Sales of Spanish Mountain Mineral Claims
7/31/2012(Spanish Mountain)Agrees to Sell its Spanish Mountain Mineral Claims
5/8/2012MD&A and Financials
12/19/2011Happy Holiday Wishes from Acrex Ventures Ltd.
6/6/2011' Rainbow Canyon Property Purchase Accepted By Stock Exchang...
6/1/2010Commencement of the 2010 Exploration Program on its Cariboo ...
5/18/2010Options Grizzly-Kellar Property In The Chibougamau Region Of...
4/7/2010To be featured on CEO Clips Airing on the Business News Netw...
3/16/2010CEO Clips is featuring Acrex Ventures on The Biography Chann...
12/9/2009Sells its 50% Michaud Joint Venture Interest for $1,000,000
6/2/2009Announces the Launch of Its New Corporate Website
3/3/2009to be Featured on CEO Clips on The Biography Channel
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TSX-V (AKV.V)OTHER OTC (AXVEF)
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