AuEx Ventures, Inc.: Sinter Agreement Signed With Christopher James Gold
23 Février 2010 - 1:00PM
Marketwired
AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX: XAU) is pleased
to report the signing of a second new exploration earn-in agreement
with Christopher James Gold Corp ("CJGC"). This agreement follows
the signing of the Pasco Canyon earn-in agreement announced in
press release NR10-04 on February 16, 2010. The Sinter project is
located approximately 13 miles northwest of Lovelock in Pershing
County, Nevada.
The Sinter project area contains a volcanic hosted,
low-sulfidation, epithermal gold system defined at the surface by
hot spring sinter, replacement silicification, argillic alteration
and local quartz veining. A series of structural zones are present
on the property and are believed to be the principle exploration
targets. Under the terms of the agreement, CJGC is required to
expend US$3 million within four years to earn an undivided 51%
interest in the project. The agreement also provides an option for
CJGC to earn an additional 19% for 70% total by expending an
additional US$3 million on the property within the following three
years. CJGC paid US$10,000 on signing and is obligated to spend a
minimum of US$100,000 in the first year. Work commitments escalate
over the 6 year earn in period.
Commenting on the new venture agreement President Ronald L.
Parratt states, "We're very pleased to enter into this new
agreement and build a stronger relationship with Christopher James
Gold and Max Baker. AuEx and CJGC bring together complementary
skills and substantial experience in exploring for epithermal gold
deposits in the Walker Lane of Nevada. We look forward to a
successful association".
AuEx Ventures, Inc. is a precious metals exploration company
that has a current portfolio of twenty one exploration projects in
Nevada/Utah, four projects in Argentina and one project in Spain.
The Company controls about 167,000 acres of unpatented claims and
fee land in prospective areas of Nevada. Thirteen of the projects
are in exploration earn-in or formal joint venture agreements with
seven 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.
By: Ronald L. Parratt, President & 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
rparratt@auex.com
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