AuEx Ventures Inc. Announces $11 Million Private Placement by 24hgold

Mots clés associés : Precious Metals |

Re: News Release - Tuesday, May 19, 2009
Title: AuEx Ventures Announces $11 Million Private Placement

AuEx Ventures, Inc. ("AuEx" or the "Company") plans to raise up to $11,000,000 from a brokered private placement financing from the sale of up to 5,000,000 units at a price of $2.20 per unit. Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share in the capital of the Company at a price of $2.75 per share for the first year and $3.30 for the second year from closing the private placement. In the event that the volume weighted average trading price of the common shares of the Company trades at or above $4.12 per share within 20 consecutive trading days in the period commencing four months after the closing date and up to twelve months after the closing date or above $4.95 per share thereafter, the Company will have the right to accelerate the expiry date of the share purchase warrants to the date which is 30 days after notice is given to the holders of the warrants of the accelerated expiry date. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval. The agents for the private placement will be Haywood Securities Inc. and Dundee Securities Corporation. A commission will be paid to the agents.

Proceeds of this private placement will be used by AuEx for funding its participating interest in the Long Canyon Venture, maintenance and exploration of existing projects and general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of twenty one exploration projects in Nevada, one project in Spain and two projects in Argentina. The Company controls about 176,000 acres of unpatented mining claims and fee land in Nevada. Eleven of the projects are in joint venture or exploration earn-in agreements with five companies. The Company 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 Parratt, President

Contact:
Richard Bedell 775-337-1545 or rparratt@auex.com

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although the management of AuEx believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future realities, and actual realities or developments may differ materially from those in the forward-looking statements. Factors that could cause actual realities to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Unless otherwise required by applicable securities laws, AuEx expressly disclaims any intention and assumes no obligation to update or revise any forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, whether as a result of new information, future events or otherwise. Please see our public filings at www.sedar.com for further information.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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