Augen Capital Announces Results of Annual and Special Meeting

TORONTO, ONTARIO--(Marketwire - June 28, 2012) - Augen Capital Corp. ("Augen" or the "Company") (TSX VENTURE:AUG) is pleased to announce the results of its annual and special meeting of shareholders held earlier today. At the meeting, the Augen shareholders:

• re-elected Norman Brewster, Alan Cruickshank, Peter Miller, G. Michael Newman and Conor S. Bill to the Board of Directors;
• re-appointed Collins Barrow Toronto LLP, Chartered Accountants as auditor of the Company and authorized the Board of Directors to fix the auditor's remuneration;
• re-approved the Company's stock option plan; and
• approved changing the name of the Company to Gensource Capital Corp. (which name change will not become effective until Articles of Amendment are filed).

Holders of 38,739,902 shares (representing approximately 49.8% of the outstanding shares of the Company) were present in person or by proxy and voted at the meeting.

Augen would also like to announce that following the annual and special meeting of shareholders, the following individuals were re-appointed as officers of the Company:

• Norman Brewster - Chairman
• Alan Cruickshank - President and Chief Executive Officer
• Carmelo Marrelli - Chief Financial Officer and Secretary

"We are pleased with the results of today's meeting. While this is a challenging and difficult market for junior resource companies, this is a good time for us to invest," said Alan Cruickshank, the Company's President and CEO. "I am confident we will acquire attractive assets."

About Augen Capital

Augen Capital Corp. is a Toronto-based public merchant bank specializing in the provision of management, consulting and due diligence services to listed issuers in the mineral exploration, development and extraction sectors. Augen also assists in the financing of, and investment in, resource companies or projects.

For more information on Augen Capital, visit our website at www.augencc.com.

The Company's public documents may be accessed at www.sedar.com.

Shares outstanding: 77,837,039