Acrex Ventures Ltd

Published : November 05th, 2008

Completes Diamond Drilling Program on Don's Lake Gold Property, Northwestern Ontario

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Suite 1400 - 570 Granville Street, Vancouver, B.C. V6C 3P1
Tel: (604) 618-1758 Fax: (604) 687-4212

News Release

Wednesday, November 05, 2008 Symbol "AKV": TSX Venture Exchange
SEC Form 20F Registration CIK: 1194506
Symbol "AXVEF": OTC BB
Acrex Completes Diamond Drilling Program on Don's Lake Gold Property, Northwestern Ontario

Acrex Ventures Ltd. ("Acrex") is pleased to announce that it has completed a Diamond drilling program on its optioned Don's Lake Gold Property located in Northwestern Ontario. The drill program was conducted on behalf of Acrex by Boreal Drilling of Val d'Or, Quebec. A total of 1000 metres of drilling was completed in 5 drill holes on the property.

The Don's Lake Property is prospective for gold and uranium mineralization. Previous exploration on the property included 20 Diamond drill holes. Exploration targeting was by lithogeochemical sampling, Vlf-Em and magnetic geophysical surveys, and prospecting. Acrex, prior to starting its drill program, completed an Induced Polarization (IP) survey on the property. Review of the IP data, combined with information provided from previous exploration, indicates that the gold-bearing Don's Lake Shear Zone (DLSZ) is coincident with continuous linear geophysical features in the IP results. Interpretation of the results indicates several elongated parallel shear zones along the DLSZ trend.

The Acrex Diamond drill program was designed to further test the DLSZ, including adjacent target areas discovered by the IP survey. As well, drilling was intended to verify results of previous drilling reported on the property. This included three holes that had intersected good gold grades including drill hole DL 04-04 with 0.36 oz Au per tonne over 3.3 feet, hole Bam 88-12 with 0.566 oz Au per tonne over 3.6 feet, and hole Fry-1 with 0.605 oz. Au per tonne over 0.4 feet.

Acrex's 5-hole program tested the DLSZ over a strike length of approximately 1,300 metres. The drill holes intersected a sequence of volcanic to sub-volcanic rocks intruded by trondjhemitic dykes and sills. These rocks are cut by sericitic schist sections of one metre to tens of metres in thickness, interpreted to be the shear zone. Much of the shear zone has associated quartz veining and variable sulphide content.

The drill core from the 5 drill holes was split by Diamond saw and a total of 244 core samples were shipped for assaying by Accurassay Laboratories in Thunder Bay, Ontario. The remainder of the core is stored in the Company's core storage facility in Slate Falls, Ontario. Final analytical results from the samples are expected within a few weeks.

Mr. Perry Grunenberg, P.Geo. of PBG Geoscience oversaw the Diamond drill program and undertook the logging and sampling of the core and is Acrex's "Qualified Person" for the purpose of National Instrument 43-101. Data compilation and interpretation will be undertaken by PBG Geoscience after receiving results from the laboratory.

In British Columbia, Acrex has renegotiated the terms of its option agreement on the Spanish Mountain Claims located near Likely in central BC. Pursuant to the renegotiated terms, Acrex has completed the exercise of its option to acquire a 100% interest in the Spanish Mountain Claims by making a $30,000 payment to the Vendor on September 22, 2008 -- satisfying early a $40,000 payment that would have had to be paid by August 3, 2009. The property is subject to a 3% net smelter return ("NSR"). Acrex has the right to purchase 66.67% of the NSR for $1,000,000 upon commencement of commercial production of the property.

Acrex presently has unallocated working capital of approximately $950,000 in the treasury.

Investor Relations - Tel: (604) 618-1758
  Fax: (604) 687-4212

   T.J. Malcolm Powell,


Acrex Ventures Ltd

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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