Augen Gold Corp.
TSX VENTURE : GLD

Augen Gold Corp.

March 15, 2011 14:49 ET

Augen Gold Appoints New Advisory Board Members

TORONTO, ONTARIO--(Marketwire - March 15, 2011) - Augen Gold Corp. (TSX VENTURE:GLD) is pleased to announce the additions of Nicole Brewster, Susan J. Mitchell, and Neil Novak to the Company's Advisory Board.

"All of our recently appointed advisors add mining technology and management expertise and financial acumen to the Augen Gold Advisory Board," said J. David Mason, President and CEO of Augen Gold. "Augen Gold benefits hugely from the counsel of its advisors, and their mining backgrounds combined with their very successful North American and global business and investment records make them strong additions."

"As well, Augen Gold anticipates that the Advisory Board members' experience and connections will enable us to reach out effectively to established players in the region," added Mr. Mason.

Brief Biographies of New Additions to the Advisory Board

Nicole Brewster: Chairman of Billiken Management Services, a full-service exploration management consulting company whose clients have included Noront and Cadillac Ventures; 15 years in administration, logistics, operation, and financing of mines from Northern Ontario to Spain to Peru.

Susan J. Mitchell, MIM: New York-based; president of S. Mitchell and Associates; seasoned investment banker with more than 20 years of experience in the resource sector; strategic M&A and project finance expert; former Managing Director, Structured Finance, [METALS AND MINING], WestLB; former Director, Treasury, Cyprus Amax Minerals.

Neil Novak, B.Sc., P.Geo.: Exploration geologist with international experience and specific expertise in Northern Ontario; former president and CEO of Spider Resources, recently purchased by Cliffs; co-recipient of the Bill Dennis Prospector of the Year Award for 2010 for his work in the Ring of Fire.

Previous Appointments

Jozef L. Straus, Ph.D., D.Sc. (Hon.): Chairman; co-founded JDS Fitel in 1981 and was instrumental in its merger with Uniphase Corporation in 1999 to create JDS Uniphase Corporation, a worldwide leader in fiber optic communications; prior to JDS Fitel, held various research and management positions related to fiber optic technology at Bell Northern Research Ltd. and Nortel; holds Honorary Doctorates from the University of Alberta, Touro College, the University of Ottawa, and Carleton University; current and past Board Member of several private and public High Tech Companies and Research Organizations; has numerous patents, publications, and other public honors to his credit; involved in several charitable organizations.

Bud Dickson: Integral part of Brett Resources gold project and its acquisition by a gold major; Owner and co-founder of Canoe Canada Outfitters, specializing in wilderness adventure trips to Quetico Park from Atikokan, Ontario; former teacher; Atikokan town councillor since 2006; experienced mining investor and advocate; sustainable development advocate.

Roger Muelhaupt: Based in Zurich and Eschenz, Switzerland; founder and CEO of money manager Muelhaupt & Partners; specializes in commodity valuation with a valuable network of commodity-oriented investors and companies.

Kumara Rachamalla, MBA, M. Eng., P. Eng.: Retired mining engineer with more than 40 years' experience in mineral sector finance, taxation and incentives globally; former Ontario Mining Tax Assessor & Director, Ontario Mineral Exploration Program; Director of Holmer Gold Mines prior to merger with Lakeshore Gold; President, National Indo-Canadian Council, Toronto Chapter.

About Augen Gold

Augen Gold is a gold exploration company with 23,685 hectares of staked and patented mining claims in the Southern Swayze Greenstone Belt, including the formerly producing Jerome Gold Mine. The claims cover a 45-kilometre long section of the Ridout Deformation Zone, believed to be the western extension of the Kirkland Lake/Larder Lake Break. The geological setting is comparable to the major gold camps of Timmins and Kirkland Lake, and the claims contain numerous gold showings that have received very little historical exploration. Augen Gold is the first company to have assembled such a coherent ground position. Augen Gold has performed a detailed airborne geophysical survey over the whole area, and its sampling program has confirmed the historically reported gold values. The correlation of many gold showings with geophysical features indicates excellent potential for the discovery of additional deposits. The Company's objectives are to aggressively explore the gold showings that correlate with geophysical anomalies, continue resource definition at the Jerome Mine, and to expand its property portfolio with highly prospective mineral assets.

For more information on the South Swayze Project, please refer to the Company's NI 43-101 compliant technical report "Amended and Restated Technical Report on the Augen Gold Corp. Claims, Porcupine Mining Division, District of Sudbury, Ontario, Canada" (effective April 8, 2008, available on the Company's profile at www.sedar.com).

For more information on Augen Gold, visit our website at www.augengold.ca or consult SEDAR at www.sedar.com.

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Shares outstanding: 127,691,347

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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