Augen Gold Corp.

Augen Gold Corp.

October 20, 2010 08:00 ET

Augen Gold Identifies Sizeable New Target Just North of Cote Lake

TORONTO, ONTARIO--(Marketwire - Oct. 20, 2010) - Augen Gold Corp. ("Augen Gold" or the "Company")(TSX VENTURE:GLD) is pleased to announce that it has identified new prospective target areas at the southeast end of its South Swayze property, just 200 metres northwest of a recent discovery at Coté Lake and more than 25 kilometres southeast of existing targets near the historical Jerome Mine and north of Opeepeesway Lake (outlined in press releases dated October 5 and October 19, 2010).

"This new area seems to be at least the size of our newly defined target north of Opeepeesway Lake, although it has a distinctly different shape and geology," said J. David Mason, CEO of Augen Gold Corp. "Given the proximity of this finding to Trelawney's recent discovery at Coté Lake, the Company sees the potential to significantly expand the expected gold tonnage of its South Swayze property. Actlabs rates this anomaly quite highly, and comparable to that discovered over Opeepeesway Lake last Spring."

Using Soil Gas Hydrocarbon (SGH) mapping that tests surficial samples for chemical characteristics indicating mineral deposits, the Company sees the anomalous areas trending 1.6 kilometres in a northeasterly direction, and 1.3 kilometres north-south. (A series of maps is available on the Company's website at The SGH mapping shows this area to be of high potential, and several excellent drill targets have been identified.

The Company's current exploration program started in late September of 2009. To date, approximately 350 line kilometres have been cut, approximately 300 line kilometres have been surveyed with geophysical methods and 80 drill holes totalling over 12,000 metres have been completed. This program includes both recently detailed exploration north of Opeepeesway Lake and this initiative at the eastern end of the South Swayze Property adjacent to Trelawney Mining and Exploration Inc.'s promising new gold discovery.

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

For more information on Augen Gold, visit our website at

The Company's documents may be accessed at

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

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