AuEx Ventures, Inc.: Pequop/Long Canyon Mineral Rights Resolved.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- AuEx Ventures, Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:XAU XAU Gold Exchange Rate (ISO) .U) announced on November 8, 2005 that a third party had asserted ownership of mineral rights underlying a portion of the Long Canyon exploration target and that the Company would be assessing the merits of the assertion. AuEx has now substantially completed its assessment of that claim and has concluded that the assertion has merit. The mineral rights in question are shown on the attached map and are controlled by NewWest Gold Corporation, a private company. NewWest and AuEx have commenced negotiations with a view to reaching a mutually agreeable business arrangement. AuEx intends to continue exploration at Long Canyon in 2006, as well as on the balance of the Pequop project, and has commenced additional permitting necessary for these activities. The Long Canyon exploration target is one of five known Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] style gold exploration targets within the overall 12,000 acre Pequop project that is owned by the company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Pittston Nevada Gold Company, Ltd., the shares of which were acquired indirectly by AuEx on June 28, 2005. AuEx commissioned and obtained a title report on the Pequop project prior to acquiring Pittston Nevada. The report indicates in error that the mineral rights in question are held by Pittston Nevada. AuEx has reviewed title to the balance of the Long Canyon mineral rights and has found no other discrepancies. AuEx Ventures, Inc. is a new, Nevada focused, precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration company that began trading on June 30, 2005. AuEx has a current portfolio of 11 exploration projects in Nevada and controls over 40,000 acres of unpatented claims and fee land. 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. By: Ronald L. Parratt, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. This release includes certain statements that may be deemed to be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/AuEx1215.jpg Triangles are drillholes completed by Pittston Nevada Gold Company, Ltd. in 2000 (LC001 thru LC007). Circles are drillholes completed by AuEx in 2005 (LC008 thru LC014) and disclosed by news release on October 25, 2005. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. AuEx Ventures, Inc. (TSX VENTURE:XAU.U) |
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