AuEx Ventures Inc. Bunce Assay Results by 24hgold

Mots clés associés : Precious Metals |

Re: News Release - Wednesday, March 26, 2008
Title: Bunce Assay Results

News Release 08-06

AuEx Ventures, Inc. (AuEx or the "Company") is pleased to report new assay results from reverse circulation drilling completed in 2007 at the Company's Bunce epithermal gold exploration project including 10 feet grading 0.112 ounces per ton (opt) in hole BU-09 and 5 feet grading 0.150 opt in hole BU-06. The drill program was conducted by the Company as operator and funded by North Range Resources Ltd (North Range) under an exploration earn-in and option to joint venture agreement. The Bunce project is located in Pershing County, Nevada.

Ronald L. Parratt, CEO of AuEx said "The assay values reported for holes BU-06 and BU-09 in the Velvet Basin area are encouraging and appear to be structurally controlled vein intercepts similar to other nearby intercepts from drilling conducted by previous explorers. Further drilling in this area is warranted to see if these intercepts can be extended and if they can be connected with intercepts from the earlier drilling. Further drilling is likewise warranted in the Bunce Graben area where several holes produced interesting results. Further work is under consideration on other north-south trending fault zones within the Central area".

This most recent phase of reverse circulation drilling conducted by the Company consisted of 15 angle drill holes totaling 13,240 feet testing three main exploration target areas. These include the Velvet Basin area on the east, the Bunce Graben area on the west and the large, previously untested Central area between these two. Drilling in the Velvet Basin area focused on several distinct north-northeast and west-northwest oriented structural targets defined by surface geological mapping, surface geochemical sampling and results from drilling conducted by previous explorers. The targeted structural zones were encountered in several holes and produced encouraging results including 10 feet grading 0.112 ounce per ton ("opt") gold in hole BU-09 and 5 feet grading 0.150 opt gold in hole BU-06 as shown in the table below. The holes drilled in the Bunce Graben area tested the margins of a mapped north-south trending structural graben within which prior drilling had encountered gold mineralization in two locations. Several of the current holes encountered reportable gold intercepts while anomalous gold values were reported for the others. Several holes were drilled to test a major north-south fault zone present in the Central area which had been identified by surface geological mapping and rock chip sampling that returned anomalous pathfinder geochemistry. These holes encountered anomalous gold values but did not discover reportable gold mineralization.

New intercepts of 5 feet or greater containing at least 0.010 ounces per ton gold are as follows:

Hole	Total Depth (feet)	From (feet)	To (feet)	Drill Intercept (feet)	Gold at a 0.010 opt cut off (opt)	Target Area
BU-005	400	55 75	65 80	10 5	0.012 0.013	Velvet Basin
BU-006	345	50 Including 215 225	65 220 230	15 5 5 5	0.070 0.150 0.022 0.011	Velvet Basin
BU-007	595	310	315	5	0.017	Velvet Basin
BU-008	500	155	160	5	0.011	Velvet Basin
BU-009	500	115 330	130 340	15 10	0.013 0.112	Velvet Basin
BU-015	1200	210 255 305 320	215 265 310 350	5 10 5 30	0.011 0.011 0.022 0.011	Bunce Graben
BU-016	1200	450	460	10	0.013	Bunce Graben
BU-018	1125	1030	1035	5	0.010	Bunce Graben

Drill holes, BU-10, BU-11, BU-12, BU-13, BU-14, BU-17 and BU-19 did not return assay values meeting the minimum reporting criteria.

Due to cost and time constraints, this recent phase of drilling at Bunce did not test the large geophysical target defined by gravity and magnetic surveys lying to the northwest of the Velvet Basin. This feature consists of a coherent, well defined gravity low with a superimposed magnetic low and is envisioned to possibly represent a hydrothermally altered volcanic vent. Although covered with post-mineral basalt flows, this feature is adjacent to much of the chalcedonic and opaline silicification and argillic alteration defining the uppermost portion of the mineral system. It is planned that the next phase of exploration will test this target with at least two deep (1,500+ feet), rotary holes. AuEx and North Range are in discussions regarding the scope and timing of the next phase of work.

All drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. QA/QC included the insertion of numerous standards and blanks into the sample stream. All intercepts are reported as drilled; true widths have not been calculated. All data disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and Certified Professional Geologist. Further details concerning the Bunce property are described in the Company's National Instrument 43-101 report filed on Sedar and additional data is on the Company's website.

AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of eighteen exploration projects in Nevada, five projects in Argentina and one project in Spain. The Company controls over 80,000 acres of unpatented claims and fee land. Ten of the projects are in joint venture agreements with seven companies who provide exploration funding. The Company applies the extensive 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 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 performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results 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. Please see our public filings at www.sedar.com for further information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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