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Re: News Releases - Thursday, April 01, 2010
Trinity Agreement Signed with Liberty Silver Corp.
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AuEx Ventures, Inc. ("AuEx" or the "Company") is pleased to report the
signing of a new exploration earn-in agreement with Liberty Silver
Corp. ("LBSC") regarding the Company's Trinity Silver project located
approximately 18 miles northwest of Lovelock in Pershing County,
Nevada. The Trinity Silver project consists of a leasehold interest in
59 unpatented mining claims and approximately 5,040 acres of fee land.
Under the terms of the agreement, Liberty Silver Corp. (LBSV, OTCBB)
paid the Company $25,000 on signing and is required to expend a minimum
of $5,000,000 within a 6 year period and complete a bankable
feasibility study to earn an undivided 70% interest in the property.
The first year work obligation of $500,000 is committed
Historical records show that silver mineralization was discovered at
Trinity by U.S. Borax in 1981 and was subsequently explored under a
joint venture between U.S. Borax and Santa Fe Pacific Gold Corp. from
1982 until 1986. The result of these efforts was the development of the
Trinity open pit mine that was in production for just over two years.
During this time, five million ounces of silver were produced by heap
leaching from one million tons of ore. Only the oxide portion of the
deposit was mined at that time leaving the partially drilled out
sulfide portion of the deposit in place. The property was subsequently
explored further by Santa Fe Pacific Gold in the period 1990 to 1992.
AuEx drilled 10 core holes in 2006 and 15 reverse circulation holes in
2007. This drilling confirmed the presence of additional silver
mineralization in the sulfide zone below and adjacent to the old
Trinity mine.
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. Fifteen of the projects are in exploration
earn-in or formal joint venture agreements with eight 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 is listed on the Toronto Stock
Exchange under the symbol XAU.
AuEx Ventures, Inc.
By: Ronald L. Parratt, President & CEO
Contact:
Ronald L. Parratt
775-337-1545 or
rparratt@auex.com
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.
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Copyright (c) 2010 AUEX VENTURES INC. (XAU) All rights reserved. For
more information visit our website at http://www.auexventures.com/ or
send mailto:info@auexventures.com
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AuEx Ventures Inc.
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CODE : XAU.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
AuEx Ventures est une société d’exploration minière basée au Canada. AuEx Ventures est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 635,1 millions CA$ (408,1 millions US$, 368,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 24 octobre 2008 à 0,80 CA$, et son plus haut niveau récent le 16 septembre 2024 à 9,17 CA$. AuEx Ventures possède 69 260 000 actions en circulation. |