AuEx Ventures Inc. Gold Mineralization Extended Further At Long Canyon by 24hgold

Mots clés associés : Precious Metals |

Re: News Release - Tuesday, November 18, 2008
Title: Gold Mineralization Extended Further At Long Canyon

AuEx Ventures, Inc. ("AuEx" or the "Company") is pleased to report new gold drill intercepts, including hole LC149 returning 80 feet (24.4 meters) at 0.091 ounces per ton (3.12 grams per tonne), and hole LC147 returning 25 feet (7.6 meters) at 0.088 ounces per ton (3.01 grams per tonne) that extends shallow, oxide gold mineralization another 328 feet (100 meters) northeast along strike at the Company's 49% owned Long Canyon gold exploration project located in Elko County, Nevada. Fronteer Development Group, Inc. ("Fronteer"), operator and 51% owner, provided these results to the Company from 12 additional holes completed since the 2008 drilling program commenced in May. A total of 58 holes from the 2008 program have now been reported from over 120 that have been drilled so far (see attached map). The combination core and reverse circulation drilling program continues with two core drills and two reverse circulation drills active on the property. Work is expected to continue until late November before the 2008 program is concluded. Commenting on the results, Ronald L. Parratt, President and CEO stated "The Long Canyon gold system continues to grow and is still open. A number of additional holes will be completed this year, however it appears that the mineral system will still not be closed off keeping the door open to extend mineralization further in 2009". The following table summarizes the new reportable assay results:

Hole ID	From	To	Intercept Length	Au	Au	From	To	Intercept Length	Au
	(feet)	(feet)	(feet)	(ppb)	(oz/ton)	(metres)	(metres)	(metres)	(gpt)

LC107C	136	178.2	42.2	4812	0.141	41.5	54.3	12.8	4.81
including	139	142.2	3.2	5532	0.162	42.4	43.4	1.0	5.53
	151	165.1	14.1	8160	0.238	46.0	50.3	4.3	8.16
	168.2	171	2.8	9047	0.264	51.3	52.1	0.8	9.05
	196	215.7	19.7	493	0.014	59.8	65.8	6.0	0.49
LC111C	131	216	85	2183	0.064	39.9	65.9	25.9	2.18
including	186	191	5	11598	0.339	56.7	58.2	1.5	11.60
	206	210.7	4.7	7943	0.232	62.8	64.2	1.4	7.94
LC114C	132	192	60	1369	0.040	40.2	58.5	18.3	1.37
	193.5	217	23.5	6113	0.179	59.0	66.2	7.2	6.11
including	193.5	197	3.5	7869	0.230	59.0	60.1	1.1	7.87
	201	209	8	12805	0.374	61.3	63.7	2.4	12.81
	322	337	15	3646	0.106	98.2	102.7	4.5	3.65
including	329	331.2	2.2	18598	0.543	100.3	101.0	0.7	18.60
LC121C	156	161	5	1413	0.041	47.6	49.1	1.5	1.41
LC141	440	485	45	4953	0.145	134.1	147.9	13.8	4.95
including	455	475	20	8520	0.249	138.7	144.8	6.1	8.52
LC147	345	360	15	645	0.019	105.2	109.8	4.6	0.65
	370	395	25	3011	0.088	112.8	120.4	7.6	3.01
including	380	385	5	5918	0.173	115.9	117.4	1.5	5.92
LC149	365	445	80	3119	0.091	111.3	135.7	24.4	3.12
including	370	380	10	9867	0.288	112.8	115.9	3.0	9.87
	470	500	30	1642	0.048	143.3	152.4	9.1	1.64

Drill holes LC144-145 and LC150-152 had no reportable intercepts. Drill hole ID numbers ending with a "C" indicate core holes with all others being reverse circulation holes.

Gold mineralization is present at Long Canyon in a series of multiple, parallel northeast directed zones with a strike length of approximately 1.1.miles (1.7 kilometers) hosted within a sequence of Cambrian and Ordovician limestone and dolomite. Mineralization is oxidized, starts at the surface and is mostly, if not entirely, above the water table. The mineralization is still open to the northeast and 1,600 feet (480 meters) of surface anomaly on the southwest defined by gold soil chemistry and gold outcrop sample data is still undrilled. Access road and drill site construction is continuing in the southwest area however drilling is unlikely in 2008.

In addition to drilling, Fronteer continues to develop additional detailed geological mapping, soil geochemistry and geophysics as aids to understanding the distribution and controls of gold mineralization. This work is also developing new exploration targets on the large Long Canyon property. An NI 43-101 resource estimate will be generated for Long Canyon at the conclusion of the 2008 exploration program and is expected to be completed in late January or early February 2009.

As reported to AuEx by Fronteer, 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. Samples exceeding 10 grams per tonne gold were re-assayed using a gravimetric finish and the values received were reported in the averages. QA/QC included the insertion of numerous standards and blanks into the sample stream. Check assays and preliminary cyanide amenability testing is underway. All intercepts are reported as drilled using a 0.30 gram/tonne cut-off; true widths have not been determined. All data, as reported to the Company by Fronteer and disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist. Further details concerning the Long Canyon property are described in the Company's National Instrument 43-101 report filed on Sedar and are on the Company's website.

AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of twenty exploration projects in Nevada, one project in Spain and five projects in Argentina. The Company controls about 80,000 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 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.

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