Auryx Gold Corp. Expands Exploration Program For The Otjikoto Gold Project In Namibia And Increases Lab Throughput

TORONTO, March 4 /CNW/ - Auryx Gold Corp. ("Auryx" or the "Company") (TSX: AYX) (NSX: AYX) is pleased to announce the expansion of the Otjikoto drill program from its initial twelve month plan, July 2010 to June 2011, of 25,000m (15,000m of diamond drilling ("DD") and 10,000m of reverse circulation drilling ("RC")) to a new plan of approximately 42,000m for the same period. As of March 1st, the Company had drilled 41 DD holes for 11,500m and 85 RC holes for 7,000m, leaving 16,500m of DD and 7,000m of RC drilling to be completed by the end of June 2011. The Company has added a third DD rig on March 1st, and plans to add a fourth in early April. The RC rig will be returned to the project by late April, at the end of the wet season.

One DD rig will be dedicated to the task of infill drilling the high-grade Western shoot with the intention of upgrading it from Inferred to Indicated. The infill drilling is estimated to require approximately 10,000m and 40 holes. The Company is targeting completion of approximately 5,000m by the end of June 2011, and this portion of the program is included in the 42,000m.

The bulk of the drilling will be focused on testing exploration targets peripheral to the current resource at Otjikoto, most significantly in attempt to define a shoot (W1 shoot) on the southwestern margin of the current resource and a shoot (E1 shoot) on the eastern margin of the current resource. Other important targets to be tested include the downplunge extension of the Western shoot, a few follow-up holes to some major step-outs to the far east of the resource, and some widely spaced holes to the north of the current resource on the farm Wolfshag. The geology on Wolfshag is more structurally complex and a number of holes will be drilled on wide spacing in order to develop a better understanding of the structural impacts on the stratigraphy.

The 42,000m program includes 1,500m for the testing of earlier stage targets kilometres to the south, but still within the Otjikoto geophysical anomaly. Auryx plans to continue testing earlier stage targets in the second half of 2011. Regional exploration of soil sampling, ground geophysics, and mapping will be initiated during this program with the goal of identifying drill targets for testing in subsequent budget periods.

To accommodate the increased drilling output and to initiate the regional prospecting programs focused on generating targets elsewhere on the Company\'s licenses, Auryx is expanding its technical team with the hiring of a database manager (which will free up a senior geologist currently on staff for field work), two junior geologists, and a senior field assistant. To address the bottleneck at the assay labs, the Company has arranged for Genalysis to establish a sample preparation facility at its operations in Walvis Bay, Namibia. The expanded prep facilities will decrease assay turnaround time to three weeks from the current six to eight weeks, after taking into account the Company\'s higher rate of drilling. The increased lab throughput is expected to take effect in mid-April.


About Auryx Gold Corp.

Auryx Gold Corp. (TSX: AYX) is a Canadian, growth-focused resource company engaged in the acquisition and exploration of gold projects in Namibia. The Company is currently advancing the Otjikoto gold deposit, located 300km north of Namibia\'s capital city, Windhoek. By virtue of its location, the Project benefits significantly from Namibia\'s well established infrastructure with paved highways, a railway, power grids, and the water grid all close by. Located in southwest Africa, Namibia is mining-friendly and lauded as one of the continent\'s most politically and socially stable jurisdictions.


On behalf of the Board of Directors

Tim Searcy, P.Geo.
President



Cautionary Notes

Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking information which include management\'s assessment of Auryx Gold future plans and operations and are based on Auryx Gold current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These risks and uncertainties include, but are not limited to: successful completion of the proposed transactions referred to herein; the satisfaction of the Escrow Release Conditions; liabilities inherent in mine development and production; geological, mining and processing technical problems; Auryx Gold inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; and management\'s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Auryx Gold undertakes no obligation to update forward-looking information if circumstances or management\'s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.



For further information:

Auryx Gold Corp.
Direct: +1 (416) 361-5996
Email: info@auryxgold.com
www.auryxgold.com