Augen Gold Corp.
TSX VENTURE : GLD

Augen Gold Corp.

November 10, 2010 11:11 ET

Augen Gold Begins Trenching at Claims West of Cote Lake

TORONTO, ONTARIO--(Marketwire - Nov. 10, 2010) - Augen Gold Corp. ("Augen Gold" or the "Company") (TSX VENTURE:GLD) announced today that it has started trenching and sampling in the area of several Soil Gas Hydrocarbon (SGH) anomalies potentially indicative of gold mineralization near Coté Lake, well within the boundaries of the eastern part of Augen Gold's 100%-owned South Swayze Property, located between the Sudbury and Timmins in Ontario. A drill is en route to follow through on trenching results.

"We have already uncovered mineralized zones that are now being sampled," said J. David Mason, CEO of Augen Gold Corp. "The SGH mapping has revealed our best anomaly yet, which ActLabs, the inventor of the SGH technology, has rated at 5.5 out of a possible 6. Adjacent to Trelawney Mining and Exploration Inc.'s promising new gold discovery, this anomaly appears at least equivalent to the anomalies identified in Opeepeesway Lake."

The Augen Gold news release of October 19, 2010 summarizes the success the company has gained through the drill testing of SGH anomalies in Opeepeesway Lake, located in the central part of the South Swayze Property, eighteen kilometres west-northwest of Cote Lake. SGH geochemistry can detect hydrocarbon-based materials directly related to a target such as a hidden gold deposit and has been an important exploration tool for Augen Gold.

The current exploration program for the South Swayze Project started in late September of 2009 and to date, approximately 350 line kilometres have been surveyed with geophysical methods, 3,701 soil and lake sediment samples have been analysed for their SGH signature, and more than 85 drill holes totalling over 13,000 metres have been completed.

Augen Gold has been successful in raising approximately $9.1 million in financings in 2010 and is focused on achieving its exploration milestones. Since inception in October 2006, the Company has raised over $20 million for the South Swayze Project.

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.

The information contained in this news release has been prepared by Augen Gold's Project Geologist, Gordon McRoberts, P.Geo., who is a Qualified Person for the Company's Jerome Project under the definitions established by National Instrument 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.

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.

The Company's documents may be accessed 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: 102,269,182

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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