Core Drilling At West Pequop Returns New High-Grade Intercepts

RENO, NV - AuEx Ventures, Inc. reported that new core drilling results confirm the presence of high-grade oxide gold mineralization at the Mountain Top target area of the West Pequop Venture gold exploration project located in Elko County, Nevada. Agnico-Eagle (USA) Limited (Agnico), the project operator and 51% interest holder in the West Pequop Venture, provided gold assays from eleven core holes completed recently in several target areas on the 23,000 acre (9308 hectare) property. WNC135, a 328 foot (100 meter) northeastward step-out from Mountain Top discovery hole WNC101, returned • 61.7 feet at 0.255 ounces per ton, including 42 feet at 0.358 ounces per ton from a depth in-hole of 230 feet.
WNC135 is a northwest-directed angle hole, one of four mineralized holes reported herein that confirmed and extended gold mineralization in the Mountain Top Zone first described in NR08-01 of January 7th. Significantly, WNC133, a short step-out northeastward from WNC101, intersected:
• 24 feet at 0.406 ounces per ton, including 15.7 feet at 0.545 ounces per ton from a depth in-hole of 121 feet. 
Drill holes WNC-127, 128, 129, 130, 131, and 132 did not contain reportable gold values.
WNC124 provides evidence of the prospective nature of the western range front area of the Pequop Mountains. Agnico is continuing the effort to identify other targets in this large area.
Exploration activity is continuing in all of the known target areas including the Section 34, Acrobat-Juggler, Mountain Top, and Range Front areas. Agnico will continue drilling in these areas throughout October, 2008 supported by mapping and sampling. A gravity survey, completed in June over the western range front area, lends further support to the target generation effort.
The company's address is 940 Matley Lane, Suite 17, Reno, NV 89502, 775-337-1545, fax: 775-337-1542, email: [email protected].