Acrex commences diamond drilling at its Spanish Mtn gold property



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

    VANCOUVER, Oct. 2 /CNW/ - Acrex Ventures Ltd. ("Acrex") is pleased to
announce that the 2007 drill program has started on its Spanish Mountain
property, located near Likely, B.C. The $1.1 million program is being carried
out on Acrex's Hepburn Lake claim block approximately 2.0 km northwest of the
Spanish Mountain Joint Venture gold project of Skygold Ventures Ltd. and Wild
Rose Resources Ltd. Over the last two years drilling and compilation work by
the Spanish Mountain Joint Venture has outlined a large tonnage, potentially
bulk mineable, sediment hosted gold system with average gold grades of greater
than 1.0 g/t. The Main mineralized zone measures 1,200 metres x 500 metres and
is up to 135 metre thick. The deposit remains open in all directions.
    Acrex's consultants, PBG Geoscience of Kamloops, BC, advise that the
first drill hole has been collared to further test the gold-bearing
intersections returned from drill hole 06SpM-15, completed in the fall of 2006
(see Acrex news release dated January 17, 2007). This drill hole returned
significant gold-bearing intersections, including 2.54 grams per tonne over
1.51 metres and 2.29 grams per tonne over 1.52 metres. The latter result was
from a sample of the last section of core drilled in the hole, from 158.5 to
160.02 metres depth. Six drill sites have now been prepared to test these
gold-bearing intersections both laterally and to depth.
    Acrex has recently completed an airborne electromagnetic and magnetic
geophysical survey of the property flown by Aeroquest International. The
survey shows a number of strong electromagnetic (resistivity) zones that trend
from the Main Gold Zone on the Skygold-Wildrose Joint Venture property onto
the Acrex claims. Several drill sites have now been prepared that will test
these important structures.
    Two geologists are currently logging and splitting the core as the holes
progress in order to expedite the assaying process.
    Mr. Perry Grunenberg, P.Geo. of PBG Geoscience is the Company's
supervisor for the Spanish Mountain Project and "Qualified Person" for the
purpose of National Instrument 43-101.

    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, Fax:
(604) 687-4212, e-mail: info@acrexventures.com, website:
www.acrexventures.com

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ACREX VENTURES LTD.

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