AuEx Ventures Inc. TEST 1: Long Canyon Drilling Returns 75 Feet At 0.226 Opt Gold In New Zone by 24hgold

Mots clés associés : Precious Metals |

Re: News Release - Tuesday, August 19, 2008
Title: Long Canyon Drilling Returns 75 Feet At 0.226 Opt Gold In New Zone

AuEx Ventures, Inc. ("AuEx" or the "Company") is pleased to report new gold intercepts, including hole LC092 returning 75 feet (22.9 meters) at 0.226 ounces per ton (4.59 grams per tonne) obtained from a new zone of shallow, oxide gold mineralization located in the northeastern part of the Company's Long Canyon gold exploration project located in Elko County, Nevada. Fronteer Development Group Inc. ("Fronteer") provided these results to the Company along with those of seven other holes testing the northeastward extension of the Main Zone. The assays from these and other holes reported in 2008 indicate that gold occurs in several parallel zones identified on a map available for review on the Company's website. The following table summarizes the new assay results:

Hole ID	From	To	Intercept Length	Au	From	To	Intercept Length	Au
			(feet)	(oz/ton)			(meters)	(gpt)
LC072c	137.8	155.0	17.2	0.154	42.0	47.3	5.2	5.29
Including	145.0	148.0	3.0	0.444	44.2	45.1	0.9	15.21
LC074c	130.0	144.2	14.2	0.062	39.6	44.0	4.3	2.12
LC076c		No reportable intercepts
LC092	70.0	145.0	75.0	0.226	21.3	44.2	22.9	7.74
Including	75.0	115.0	40.0	0.363	22.9	35.1	12.2	12.44
LC094	245.0	255.0	10.0	0.017	74.7	77.7	3.0	0.57
	280.0	300.0	20.0	0.033	85.4	91.5	6.1	1.11
LC096		No reportable intercepts
LC098	680.0	705.0	25.0	0.074	207.3	214.9	7.6	2.53
Including	680.0	685.0	5.0	0.246	207.3	208.8	1.5	8.41
LC099	560.0	640.0	80.0	0.070	170.7	195.1	24.4	2.39
Including	615.0	620.0	5.0	0.164	187.5	189.0	1.5	5.61
	690.0	710.0	20.0	0.023	210.4	216.5	6.1	0.80

RC holes LC092, LC094, and LC099 document the presence of a new body of mineralization named the Shadow Zone, which lies parallel to and about 200 meters northwest of the Northeast Zone, an extension of the Main Zone. RC hole LC098 intersected gold mineralization approximately 50 meters northeast of an intercept in LC070 reported in NR08-13. Together, these intercepts suggest the presence of the East Zone. Core holes LC072C and LC074C fill the 100 meter gap between core holes, LC063C and LC066C reported in NR08-1 and NR08-3.

A total of 26 holes from the 2008 program have now been reported from over 40 that have been drilled since the 2008 drilling program commenced in May. The combination core and reverse circulation drilling program continues with the goal of completing approximately 100 new holes in 2008 at Long Canyon. Fronteer has now completed close to 24,600 feet (7,500 meters) of reverse circulation and core drilling so far in 2008 and plans to complete a total of 37,700 feet (11,500 meters) during the balance of the 2008 exploration program.

The Main Zone of mineralization and multiple parallel zones at Long Canyon, combined, are at least 1.2 kilometers (4,000 feet) in length and remain open to the northeast well beyond the limits of the original soil gold anomaly. The Main Zone is also open to the southwest where approximately 1,600 feet of the soil gold anomaly remains undrilled. No drilling has been completed in 2008 on the West Zone of mineralization which remains open to both the southwest and northeast. All mineralized intercepts consist of near surface, oxidized material

Under the terms of the earn-in agreement with the Company, Fronteer may earn a 51% interest in the Long Canyon property by investing $5 million over a five year period and may earn an additional 14% by advancing Long Canyon through feasibility. Fronteer is expected to meet the initial earn-in obligation by the end of this year. A Plan of Operations has been submitted to the Elko District Office of the U.S. Bureau of Land Management by Fronteer to expand the drilling program on the Long Canyon project.

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. All samples exceeding 10.0 grams per tonne were re-assayed with a gravimetric finish. Gold assays obtained by gravimetric finish were used in-place of atomic absorption analyses for calculating average intercept grades. 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. 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 nineteen exploration projects in Nevada, one project in Spain and five projects in Argentina. The Company controls over 80,000 acres of unpatented mining claims and fee land in Nevada. Nine of the projects are in joint venture or exploration earn-in agreements with five companies who provide exploration funding. 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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