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Xplosivestocks

01/25/09 5:02 PM

#644 RE: Carlito #617

Millions have been spent on properties right next door to BRYN. BRYN is on the something huge.

2008 EXPLORATION HIGHLIGHTS:

2008 was an exciting year for exploration on AuEx projects with more exploration dollars being spent than any other year since the company was formed. Over $13,000,000 was expended by AuEx and its partners with major emphasis on the West Pequop and Long Canyon projects. In June of 2008, Agnico-Eagle (USA), Ltd. completed their $5,000,000 earn-in at the West Pequop project and vested an undivided 51% interest. Agnico subsequently decided to carry AuEx through bankable feasibility to earn an additional 19% in the project for a total 70% undivided interest. Agnico drilled continuously throughout 2008 with further good results at Mountain Top and Section 34.

Fronteer Development Group completed their $5,000,000 earn-in at Long Canyon in September of 2008 and subsequently decided to remain at 51%, requiring AuEx to join with them pro-rata on continuing exploration expenses. Work at Long Canyon during 2008 was very successful with excellent grade gold mineralization being extended significantly to the northeast where it remains open. Drilling to the southwest within the 1,600 feet of untested soil anomaly was delayed by permitting during 2008, but drill site access has now commenced. The Long Canyon mineral system has a known strike length of over a mile and is still open. All mineralization is oxidized and outcropping or very shallow. An initial resource estimate is planned to be completed by February 2009.

During 2008, AuEx signed a four property exploration earn-in agreement with Eldorado Gold Corp. The properties involved include: Buffalo Canyon, Green Monster, Hays Canyon and Klondike North. Exploration activity funded by Eldorado, and carried out by AuEx, progressed well with Klondike North drilled. Work in 2008 continued on other AuEx projects in Nevada, the company's project in Spain and on the projects in Argentina. Overall,2008 was a most exciting and eventful year!