XAU GoldMoney Inc

AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX: XAU) is pleased to report this first resource estimate for the Company's 49% owned West Pequop Joint Venture located within the new Pequop Gold District in eastern Elko County, Nevada. The resource estimate, on a 100% basis, includes the Section 34, Acrobat and Mountain Top gold deposits and incorporates drilling completed through the end of 2009. All three gold deposits are located within a four square mile area. In addition, the Long Canyon deposit (reported on May 19, 2010 in press release NR10-12) on adjoining property to the east creates a significant district resource with near and long term growth potential.

West Pequop JV

The combined Classified Mineral Resource estimate for all three deposits is quoted at a cut-off grade of 0.3 grams per tonne and consists of;

--  An Indicated Resource of 64,138 ounces at an average grade of 1.63 g/t
gold (1,227,000 tonnes); and

--  An Inferred Resource of 249,441 ounces at an average grade of 1.41 g/t
gold (5,504,000 tonnes).

Commenting on these results, Ronald L. Parratt, President & CEO of AuEx stated, "This initial resource estimate for the West Pequop project, together with the updated resource at the Long Canyon project, further demonstrates the discovery potential for Carlin style mineralization in the Pequop District. Exploration is still in early stages and the potential for resource growth at both projects is excellent. Mineralization is still open and many exploration targets remain to be drill tested. Exploration activity is underway at West Pequop and Long Canyon to pursue these numerous opportunities."

The resources for each of the three deposits at West Pequop are shown below at additional cutoffs in order to provide grade-distribution information.

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Acrobat     Indicated                              Inferred
--------------------------------------   -----------------------------------
Cutoff         Tonnes   Grade            Cutoff      Tonnes   Grade
Au g/t             (k)    g/t       Oz   Au g/t          (k)    g/t       Oz
--------------------------------------   -----------------------------------
0.2               676    1.17   25,396   0.2          2,570    1.07   88,599
--------------------------------------   -----------------------------------
0.3               581    1.32   24,644   0.3          2,178    1.22   85,362
--------------------------------------   -----------------------------------
0.5               450    1.59   23,034   0.5          1,604    1.52   78,302
--------------------------------------   -----------------------------------
1                 258    2.22   18,407   1              992    2.00   63,761
--------------------------------------   -----------------------------------
Section 34  Indicated                              Inferred
--------------------------------------   -----------------------------------
Cutoff         Tonnes   Grade            Cutoff      Tonnes   Grade
Au g/t             (k)    g/t       Oz   Au g/t          (k)    g/t       Oz
--------------------------------------   -----------------------------------
0.2               642    1.39   28,698   0.2          3,714    1.15  137,119
--------------------------------------   -----------------------------------
0.3               527    1.64   27,809   0.3          2,883    1.41  130,625
--------------------------------------   -----------------------------------
0.5               426    1.93   26,502   0.5          2,162    1.75  121,490
--------------------------------------   -----------------------------------
1                 221    3.10   22,098   1            1,135    2.68   97,899
--------------------------------------   -----------------------------------
Mtn. Top    Indicated                              Inferred
--------------------------------------   -----------------------------------
Cutoff         Tonnes   Grade            Cutoff      Tonnes   Grade
Au g/t             (k)    g/t       Oz   Au g/t          (k)    g/t       Oz
--------------------------------------   -----------------------------------
0.2               126    2.91   11,746   0.2            470    2.23   33,671
--------------------------------------   -----------------------------------
0.3               119    3.06   11,685   0.3            443    2.35   33,454
--------------------------------------   -----------------------------------
0.5                99    3.59   11,450   0.5            408    2.52   33,018
--------------------------------------   -----------------------------------
1                  81    4.24   11,085   1              293    3.22   30,333
----------------------------------------------------------------------------

The West Pequop project is subject to a joint venture agreement with Agnico-Eagle (USA) Limited, currently 51% owner and operator. Agnico-Eagle is solely funding exploration at present to earn an additional 19% undivided interest (for a total of 70%) in the project. Exploration drilling for the 2010 field season has just commenced and Agnico-Eagle plans to expend approximately $3,250,000 in further exploration at West Pequop. This will consist of step out drilling to test new exploration targets defined during 2009 and infill drilling to expand and possibly connect the known deposits. At least 50,000 feet of drilling is expected to be completed during 2010 at the project.

The West Pequop mineral resource estimate is as of May 13, 2010. The mineral resources estimate was completed by SRK Consultants of Tucson, Arizona and Denver, Colorado. The resources were modeled and estimated by evaluating the drill data statistically and utilizing two-dimensional lithologic strings provided by Agnico-Eagle to interpret mineral domains on cross sections spaced at 40 meter intervals throughout the extent of the Section 34, 25 meters on Acrobat and variably through the Mountain Top mineralization. The modeled mineralization database was analyzed statistically to establish estimation parameters. Gold grades were estimated by inverse-distance methods into a block model with 10 meter (width) x 10 meter (length) x 6 meter (height) blocks that were constrained to the mineral domains using Datamine Studio3 mining software. Quality-control data generated during the various drill programs conducted at West Pequop were independently reviewed by SRK as part of the resource study. The persons responsible for the resource estimate on behalf of SRK are Allan V. Moran, Reg. Geo. and Frank Daviess, MAusIMM, Qualified Persons as defined by National Instrument 43-101. Further details of the estimation procedure will be available in an updated NI 43-101 report, which will be posted on SEDAR (http://www.sedar.com/), no later than 45 days from the date of this release.

The state of exploration for West Pequop is too early to justify estimating in-pit resources. SRK has estimated and is reporting an in-situ total resource rather than the preferred option of reporting an in-pit resource, primarily because the resources are largely Inferred by classification, and due to the insufficiency of potential mining and processing characterizations. In reporting the resource at a 0.3 g/t Au cutoff, SRK's opinion is that the mineralization has the potential for economic extraction at current gold prices. Indicated resources are based solely on density of drillhole data and the number of composites within a specified distance from an estimated block. Additional conversion of "Inferred" to "Indicated" will require in-fill drilling and "in-pit" analysis to confirm potential mineability for each deposit.

Ronald L. Parratt, Certified Professional Geologist, is the Company's designated Qualified Person for this news release. He has reviewed the information contained in the release and confirmed that it is consistent with that provided by the independent QP's responsible for the resource estimate.

AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of nineteen exploration projects in Nevada, one project in 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

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.

This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.

Contacts: AuEx Ventures, Inc. Ronald L. Parratt President & CEO 775-337-1545 rparratt@auex.com www.auex.com