AuEx Ventures, Inc.: Gold Mineralization Extended Further at Long Canyon

• Press Release
• Source: AuEx Ventures, Inc.
• On 7:00 am EST, Tuesday November 18, 2008

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Nov 18, 2008 -- AuEx Ventures, Inc. ("AuEx" or the "Company") (Toronto:XAU.TO - News) 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 (to view the attached map please click on: http://media3.marketwire.com/docs/xau1118.pdf). 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:

 

--------------------------------------------------------------------------
                         Inter-                                Inter-
                          cept                  From     To     cept
           From     To  Length    Au       Au   (met-  (met-  Length    Au
Hole ID   (feet) (feet)  (feet) (ppb) (oz/ton)   res)   res) (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.

Related Quotes

Symbol	Price	Change
XAU.TO	3.20	+0.15

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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.

Ronald L. Parratt, President and CEO

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.

     Contacts:
     AuEx Ventures, Inc.
     Ronald L. Parratt
     (775) 337-1545
     Email: rparratt@auex.com