Augen Gold Corp.
TSX VENTURE : GLD

Augen Gold Corp.

July 13, 2010 18:03 ET

Augen Gold Corp Investigating Proxies Provided in Relation to Postponed Shareholder Meeting

TORONTO, ONTARIO--(Marketwire - July 13, 2010) - Augen Gold Corp (TSX VENTURE:GLD) ("Augen Gold" or the "Company") updates its announcement that it has postponed the annual and special meeting of its shareholders (the "Shareholder Meeting") planned for 4 p.m. (Toronto time), July 13, 2010. The Shareholder Meeting has been rescheduled to Friday, July 23, 2010 at 10:00 a.m. (Toronto time) at the Toronto Board of Trade. 

The Company has been provided with information that certain of the proxies submitted in blank, many naming as proxy an outgoing director of the Company (the "Dissident Shareholders") may have been obtained in violation of the law with respect to solicitation. The Company will investigate and make a determination whether any of the proxies provided by the Dissident Shareholders can be legally voted at the postponed Shareholder Meeting. 

The Company notes that the Dissident Shareholders have threatened to convene their own meeting without notice, at a private location to which other shareholders do not have an invitation or access and without complying with the By-laws of the Company or applicable law. In the Company's view this meeting is illegal and of no effect. Any attempt of the Dissident Shareholders to completely disenfranchise all other shareholders can only lead the Company to question their true motives.

About Augen Gold

Augen Gold is a gold exploration company with 23,877 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 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.

Shareholders that have any questions or need assistance in voting please contact Laurel Hill Advisory Group, the Company's proxy solicitation agent, at:

Toll Free: 1.877.304.0211

Collect: 416.304.0211

email: assistance@laurelhill.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. 

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 reception and voice mail
    dmason@augengold.ca