AuEx Ventures, Inc.: Hays Canyon Agreement Signed With Christopher James Gold
25 Février 2010 - 1:00PM
Marketwired
AuEx Ventures, Inc. (TSX: XAU) ("AuEx" or the "Company") is pleased
to report the signing of a third 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 and the Sinter agreement
announced in press release NR10-06 on February 23, 2010. The Hays
Canyon project is located approximately 60 miles northwest of
Gerlach in northern Washoe County, Nevada.
The Hays Canyon project area contains a volcanic hosted,
epithermal gold system localized by a series of felsic flow domes
and associated silicification and argillic alteration. The property
contains a series of northwest trending structural zones which are
anomalous in gold and pathfinder elements based on rock chip
sampling. Prior exploration on the property consists of a series of
shallow rotary holes completed in the mid-1980's and, more
recently, 2 deeper reverse circulation drill holes. Under the terms
of the agreement, CJGC is required to expend US$3 million within
five 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$2 million on the
property within the following two years. Work commitments escalate
over the initial 5 year earn in period.
In December 2009, Eldorado Gold Corp. released the Hays Canyon
project from a September 15, 2008 option earn-in agreement with
AuEx.
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.
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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