Augen Gold Corp.
TSX VENTURE : GLD

Augen Gold Corp.

November 12, 2010 18:57 ET

Augen Gold Corp. Lists Flow-Through Warrants

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2010) - Augen Gold Corp. (TSX VENTURE:GLD) ("Augen Gold" or the "Company") announces that, further to its press releases dated July 28, 2010 and September 22, 2010, effective November 11, 2010 14,600,000 amended flow-through warrants (the "Warrants") issued pursuant to three tranches of a private placement (the "Offering") have been listed on the TSX Venture Exchange under the trading symbol "GLD.WT". The Warrants entitle the holder to acquire one common share of the Company on a flow-through basis (each, a "Flow-Through Share") at an exercise price of $0.20 per Flow-Through Share until October 27, 2014.

The Offering closed on October 27, 2009, December 17, 2009, and January 29, 2010 for an aggregate of 15 million units (each, a "Series B Unit") at a price of $0.10 per Series B Unit, each such Series B Unit consisting of one common share and one warrant. Each such warrant entitled the holder to acquire one Flow-Through Share at an exercise price of $0.20 per Flow-Through Share for a period of 5 years from the date of issuance.

The Company announced on September 22, 2010 that 13,600,000 of the warrants issued pursuant to the Offering had been amended to fix the expiry date for all of such amended warrants at October 27, 2014, and to remove a provision which allowed for the acceleration of the expiry date of the Warrants in certain circumstances. Subsequently, an additional 1,000,000 of such warrants were identically amended.

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 Augen Gold, visit our website at www.augengold.ca.

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

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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