Acrex - Moneta JV Confirms and Expands "55 Zone" Gold Mineralization, Timmins, Ontario



    Symbol "AKV": TSX Venture Exchange
    SEC Form 20F Registration CIK: 1194506
    Symbol "AXVEF": OTC BB

    VANCOUVER, July 30 /CNW/ - Acrex Ventures Ltd. ("Acrex", TSX: AKV) and
Moneta Porcupine Mines Inc. ("Moneta", TSX: ME) are pleased to announce final
results from the "55 Zone" Joint Venture drill program. A total of 2449 metres
(m) was drilled in 8 holes. All drill holes intersected gold mineralization,
with best results from holes MA-08-43, MA-08-44 and MA-08-49, drilled in the
more central portion of the zone. Previous drilling returned notable drilled
width intersections in MA-04-25 (12.76 g/t Au over 4.30m within 11.50m of
5.86 g/t Au), MA-02-06 (7.54 g/t Au over 6.50m within 4.81 g/t Au over 12.0m),
and more recently MA-05-30 with an intercept of 8.99 g/t Au over 4.50m within
a 7.40m alteration zone averaging 5.81 g/t gold.
    Highlights from the current drilling include the zones intersected in
MA08-43 and MA08-49. Notable in MA08-49 is an intersection of 9.68 g/t Au over
27.75 metres drilled width with a peak value of 49.03 g/t Au over 1.00 metres.
Within this zone are five narrow quartz vein or stringer intercepts each of
which may be up to 0.30 metres in true width, intersecting the drill core at
variable but generally very low core angles, with the result that a
significant portion of the vein intersections carrying the higher grades were
drilled down-dip. The overall zone is defined by intense ankerite/pyrite
alteration with gold values typically ranging from 2 to 5 g/t gold. A similar
orientated vein carrying visible gold in the same geological setting was
intersected in MA08-43 returning 42.09 g/t Au over 2.90 metres drilled width,
with a peak vein value of 187.99 g/t Au over 0.50 metres. The results confirm
the high grade and well mineralized gold tenor of these very narrow veins and
due to their orientation, the true width of the two zones is significantly
reduced and will have to be determined by an additional drill program.
    The "55 Zone" is hosted by altered Timiskaming greywackes and sandstones
along the ultramafic/Timiskaming sedimentary contact and on strike with
Moneta's Southwest (624,500 oz.; historical Barrick gold resource) and
Windjammer South Zones (154,000 oz. :Cargill NI 43-101 inferred resource
June 13, 2008) to the east-northeast. To date only 26 drill holes have been
completed in the "55 Zone" (Michaud JV: 14, Acrex: 7, Barrick: 5) with
significant gold mineralized intervals reported previously. Drill holes were
laid out to generate additional data points and complete sections within the
zone in order to facilitate a resource estimate to NI 43-101 standards and
determine parameters for a follow-up drill program.

    The summary table below details significant intersections:

    
    -------------------------------------------------------------------------
                      From          To      Drilled width           Au
    Drill Hole         (m)          (m)          (m)               (g/t)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-43           67.20        71.00         3.80                   5.05
    -------------------------------------------------------------------------
                      80.90        83.80         2.90              (*) 42.09
    -------------------------------------------------------------------------
    incl.             82.10        82.60         0.50     (*),(4),(5) 187.99
    -------------------------------------------------------------------------
                     171.50       173.50         2.00                   5.65
    -------------------------------------------------------------------------
                     177.50       185.70         8.20                   4.50
    -------------------------------------------------------------------------
    incl.            179.25       184.00         4.75                   6.25
    -------------------------------------------------------------------------
                     226.00       226.50         0.50                   8.92
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-44          117.80       119.15         1.35                   4.09
    -------------------------------------------------------------------------
                     132.50       140.00         7.50                   2.24
    -------------------------------------------------------------------------
    incl.            134.50       135.00         0.50              (*) 12.41
    -------------------------------------------------------------------------
                     160.55       162.00         1.45                   5.48
    -------------------------------------------------------------------------
                     179.95       181.65         1.70                   6.49
    -------------------------------------------------------------------------
                     237.75       239.20         1.45                   2.53
    -------------------------------------------------------------------------
                     249.63       252.00         2.37                   1.54
    -------------------------------------------------------------------------
                     284.40       288.90         4.50                   2.71
    -------------------------------------------------------------------------
                     291.10       292.53         1.43                   2.15
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-45          148.00       151.75         3.75                   1.16
    -------------------------------------------------------------------------
    incl.            148.50       149.00         0.50                   3.62
    -------------------------------------------------------------------------
                     179.00       180.00         1.00                   1.92
    -------------------------------------------------------------------------
                     183.00       184.00         1.00                   1.11
    -------------------------------------------------------------------------
                     190.35       191.00         0.65                   2.67
    -------------------------------------------------------------------------
                     200.00       202.00         2.00                   1.59
    -------------------------------------------------------------------------
                     215.00       216.00         1.00                   1.20
    -------------------------------------------------------------------------
                     233.00       233.50         0.50                   4.04
    -------------------------------------------------------------------------
                     236.40       238.00         1.60                   1.27
    -------------------------------------------------------------------------
                     242.00       244.00         2.00                   1.22
    -------------------------------------------------------------------------
                     249.00       250.00         1.00                   2.13
    -------------------------------------------------------------------------
                     257.00       257.50         0.50             ,(4) 14.61
    -------------------------------------------------------------------------
                     289.00       289.42         0.42                   4.38
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-46           46.00        47.00         1.00                   1.43
    -------------------------------------------------------------------------
                      56.75        59.00         2.25                   2.24
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-47           74.40        77.00         2.60                   3.17
    -------------------------------------------------------------------------
    incl.             75.00        75.80         0.80                   8.57
    -------------------------------------------------------------------------
                     136.00       137.00         1.00                   1.20
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-48           61.00        62.00         1.00                   7.21
    -------------------------------------------------------------------------
                     122.00       123.00         1.00                   2.02
    -------------------------------------------------------------------------
                     126.50       130.00         3.50                   1.76
    -------------------------------------------------------------------------
    incl.            126.50       127.15         0.65                   4.58
    -------------------------------------------------------------------------
                     144.00       145.00         1.00                   1.63
    -------------------------------------------------------------------------
                     180.00       181.00         1.00                   3.22
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-49          127.00       154.75        27.75           (*),(4) 9.68
    -------------------------------------------------------------------------
    incl.            128.00       128.65         0.65          (*),(4) 22.49
    -------------------------------------------------------------------------
    and              139.50       140.50         1.00          (*),(4) 49.03
    -------------------------------------------------------------------------
    and              144.50       145.50         1.00          (*),(4) 29.01
    -------------------------------------------------------------------------
    and              145.50       146.55         1.05          (*),(4) 24.39
    -------------------------------------------------------------------------
    and              147.15       148.60         1.45          (*),(4) 30.06
    -------------------------------------------------------------------------
                     159.00       163.00         4.00                   3.41
    -------------------------------------------------------------------------
                     172.00       179.00         7.00               (*) 5.67
    -------------------------------------------------------------------------
    incl.            177.10       179.00         1.90              (*) 14.03
    -------------------------------------------------------------------------
                     189.55       197.00         7.45                   6.42
    -------------------------------------------------------------------------
                     240.60       243.20         2.60                   6.33
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MA08-50           44.00        45.00         1.00                   2.76
    -------------------------------------------------------------------------
                      48.00        49.00         1.00                   2.04
    -------------------------------------------------------------------------
                     109.00       114.40         5.40                   3.25
    -------------------------------------------------------------------------
    incl.            111.40       112.75         1.35                   6.01
    -------------------------------------------------------------------------
    ((*)) Includes metallic assay results where completed.

    Notes (1,2,and 3 are applicable to all intersections):

    1.  Simple weighted average of duplicates and checks used.
    2.  Intervals are drilled widths in metres.
    3.  Drill hole dips are all initially -50 degrees and azimuth of
        340 degrees
    4.  Significant downdip component
    5.  Visible gold (VG) noted
    

    Assaying

    Diamond drill core logging and sampling follows general industry
practices. Logged and sample marked core is sawn in half with one half bagged
and tagged for shipment to the assay laboratory with the remaining half of the
sawn core returned to the core box for storage and future reference. Blanks
and a range of standards are inserted into the sample stream at regular
intervals. Up to 15% of the pulps are submitted to a second laboratory as
checks. Initial assays and routine duplicates as well as later gold metallic
analyses were completed by Swastika Laboratory, while check assays and their
duplicates were completed by Expert Laboratories. Both laboratories follow
industry standard fire assay techniques.
    R. Skeries, P.Geo., is the Qualified Person for the purposes of NI 43-101
and technical data contained herein.

    About Acrex

    Acrex is a Vancouver based junior resource company with four projects in
Canada. The Michaud Gold joint venture Property is located along the prolific
gold producing Destor-Porcupine Fault System in Northern Ontario. The Destor
Fault System is reported to have produced over 100 million ounces of gold.
Acrex's other three projects are the Spanish Mountain Property, a gold project
located near Likely in the Cariboo region of British Columbia; the Don's Lake
Property located between Red Lake and Pickle Lake in northwestern Ontario; and
the Honeymoon copper silver Property located North East of Kamloops in British
Columbia.

    
    ACREX VENTURES LTD.

    Per:
           T.J. Malcolm Powell,
           President
    

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this Release.





For further information:

For further information: Investor Relations - Tel: (604) 618-1758,
e-mail: info@acrexventures.com, Fax: (604) 687-4212, website:
www.acrexventures.com

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