Fireball Ridge and Thunder Mountain Exploration Update
NR05-7
Fri Oct 21, 2005
AuEx Ventures, Inc. (AuEx) herewith announces the results from reverse circulation drilling completed recently on the Company's Fireball Ridge claims located in Churchill County, Nevada and on the Thunder Mountain Joint Venture project located in Nye County, Nevada.
Newcrest Resources, Inc., lessee, completed 11 reverse circulation drill holes totaling 6,235 feet exploring for epithermal gold and silver mineralization on the AuEx leased claims. Of the 11 holes, Newcrest reported that 4 of the holes had drill intervals of 0.01 ounce per ton gold or greater as shown below;
Hole From To Drill Intercept at a 0.01 ounce per ton gold cut off
N-1 85 90 5 feet grading 0.093 ounces per ton gold,
N-11 580 585 5 feet grading 0.011 ounces per ton gold,
N-11 605 610 5 feet grading 0.015 ounces per ton gold,
N-17 405 420 15 feet averaging 0.027 ounces per ton gold, and
N-18 415 420 5 feet grading 0.024 ounces per ton gold.
Intercepts are reported as drilled; true widths have not been calculated. Newcrest is reviewing these results and has indicated they are considering further work.
On the Thunder Mountain Joint Venture with Alaska Gold Company, 7 reverse circulation drill holes were completed totaling 5,545 feet exploring for epithermal gold and silver mineralization similar to the nearby Midway gold deposit. Of these, only hole DTM-4 contained reportable values with 10 feet of 1.79 ounces per ton of silver being encountered at a down hole depth of 640 feet to 650 feet. The iintercept is reported as drilled and a true width has not been calculated. Based on these results, Alaska Gold Company has elected not to proceed with further exploration at Thunder Mountain and has released its interest in the joint venture agreement to AuEx.
The Fireball Ridge project assay results are presented as reported to the Company by Newcrest Resources, Inc. and have not been verified by AuEx. The Thunder Mountain drill results including sampling and analytical work have been verified by the Company's qualified person Mr. Ronald L. Parratt, M.Sc. and Certified Professional Geologist.
AuEx Ventures, Inc. is a new, Nevada focused, precious metals Exploration Company that began trading on June 30, 2005. AuEx has a current portfolio of 12 exploration projects in Nevada and controls over 40,000 acres of unpatented claims and fee land. 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:
Deborah Thiel - Manager Investor Relations Telephone: 604-541-9655
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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