Augen Gold Corp.
TSX VENTURE : GLD

Augen Gold Corp.

May 16, 2011 19:53 ET

Augen Gold Conference Call RE 1.8 km Discovery Zone

TORONTO, ONTARIO--(Marketwire - May 16, 2011) - Augen Gold Corp. (TSX VENTURE:GLD) announces a stakeholder conference call at 11:00 AM EDT on Wednesday, May 18, 2011. The call will outline for stakeholders the significance of the 1.8 km-long discovery zone on the North Shore of Lake Opeepeesway, where the Company reported an average of 14.7 g/t Au over an average intersection of 5.36 metres in its last five holes (see releases dated 07 March, 20 April, and 11 May, 2011).

Optionally, investors can stay tuned for an ore reserve calculation workshop. This will provide some insight into how companies generate their resource assessments from drill intercepts. David Mason, President and CEO, will be accompanied on the call by members of the GLD geological team.

Please email any questions to investorrelations@augengold.ca, or call 416-915-4231, where detailed messages can be left. Those who indicate to investorrelations@augengold.ca that they will be tuning in to the call will receive by email a powerpoint information package, including recent drill samples, maps, and other information pertinent to the call. This package will also be available on the Company website at www.augengold.ca immediately prior to the call.

Details of the call
Date: Wednesday, May 18, 2011
Time: 11:00 AM EDT
Call-in numbers:
+1 416-695-6616 (Toronto/Local/International)
+1 800-952-6845 (North America Toll-Free)
+1 800-4222-8835 (International Toll-Free)
Conference access: 'Augen Gold'
Web access (during call): http://www.gowebcasting.com/2453
Instant replay: +1 905-694-9451 (Local) or +1 800-408-3053 (North America Toll-Free)
Replay pass code: 8435046 (until June 1, 2011)

"The necessary technical elements in our releases have not been easily understood by some stakeholders," said J. David Mason, President and CEO of Augen Gold. "We have chosen to initiate a series of update calls combined with technical information sessions so that GLD investors gain a better understanding of both GLD's deposits and the significance of our discoveries in the Swayze Belt."

Readers are also encouraged to refer to the newest posted maps, entitled "North Shore Trend High Grade Au Intersections (May-10-2011)" (http://tinyurl.com/3kvpk7g), which shows recent high-grade intersections, and "North Shore Trend Au Composite Intersections (May-10-2011)" (http://tinyurl.com/3pe72dq), which shows interesting composites. In addition, "North Shore Area DDH Location Map With SGH Gold Soil Anomalies" and "North Shore Area Ground Magnetic Map with DDH Locations", both posted on Augen Gold's website, www.augengold.ca, may also be helpful.

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

The Company's documents may also 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: 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.

Contact Information

  • Augen Gold Corp.
    J. David Mason
    Chief Executive Officer and Director
    416-915-4231
    dmason@augengold.ca