Klondike North Drill Results

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Klondike North Drill Results

posted on Feb 20, 2009 02:09AM

February 20, 2009

AuEx Ventures, Inc.: Klondike North Drill Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2009) - AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) is pleased to report assay results from drilling conducted at the Company's Klondike North gold exploration project located in Esmeralda County, Nevada. These results were from an initial phase of drilling conducted in November 2008 and consisted of twelve reverse circulation holes totaling about 8,400 feet. This drilling program was conducted by AuEx and funded by Eldorado Gold Company ("Eldorado") under an exploration earn-in agreement. Results from the drilling program include;

-------------------------------------------------------------
Drill                                     Grade in
Hole      From        To    Thickness   ounces per
Number   (feet)    (feet)       (feet)    ton gold  Comments
-------------------------------------------------------------
KN-02      160       165            5   anomalous
-------------------------------------------------------------
KN-06      605       610            5   anomalous
-------------------------------------------------------------
KN-08      300       305            5        1.37   Vein zone
-------------------------------------------------------------
KN-10      635       645           10   anomalous
           690       695            5   anomalous
           745       755           10   anomalous
           860       865            5   anomalous
-------------------------------------------------------------
KN-11      305       310            5   anomalous
           320       325            5   anomalous
-------------------------------------------------------------
Drill holes KN-01, 03, 04, 05, 07, 09 and 12 had no reportable intercepts.
Anomalous values above refer to intercepts grading from 100 to 342 parts
per billion gold.

The high grade values in hole KN-08 appears to be a vein intercept likely similar to those mined historically elsewhere on the property. KN-08 also contained anomalous silver, arsenic and antimony values consistent with a low sulfidation epithermal system. The values encountered in hole KN-08 are open and further drilling to test this area and other targets on the property is under consideration.

The Klondike North gold exploration property consists of 127 unpatented lode mining claims covering approximately 2,040 acres. The property contains widespread evidence of a low sulfidation, epithermal mineral system including historic underground mine workings exploiting vein occurrences of gold and silver mineralization. Geological mapping, surface geochemical sampling and ground geophysics conducted by AuEx in 2008 for Eldorado have identified several exploration targets, a portion of which were tested in this initial phase of drilling. Klondike North is one of four AuEx exploration properties in Nevada held by Eldorado under an exploration earn-in agreement signed in early 2008 (press release June 26, 2008). Further work on the other properties, namely Buffalo Canyon, Green Monster and Hayes Canyon, is planned for 2009 as well.

All drill samples were collected following standard industry practice and were assayed by ALS Chemex, Inc. of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. Samples assaying over 10 parts per million gold are routinely re-assayed using standard fire assay techniques on a 30 gram sample with a gravimetric finish. 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; true widths have not been calculated. All data as 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 North Klondike gold exploration property are on the Company's website.

AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of twenty one exploration projects in Nevada, two projects in Argentina and one project in Spain. The Company controls about 80,000 acres of unpatented claims and fee land in prospective areas of Nevada. Eleven of the projects are in exploration earn-in or formal joint venture agreements with five 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.

Ronald L. Parratt, President & CEO

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