Augustine Ventures Inc.

Augustine Ventures Inc.

March 25, 2013 10:58 ET

Augustine Appoints Michael Newman as Chairman of the Board

TORONTO, ONTARIO--(Marketwire - March 25, 2013) - Augustine Ventures Inc. (CNSX:WAW) ("Augustine" or the "Company") is pleased to announce that Mr. Michael Newman has been appointed to the Chairman of the Board. Mr. Newman has been a Director of the Company since 2011, and he has over 30 years of experience as a Director of publicly listed companies on the TSX and TSX-V. Most recently, Mr. Newman was appointed interim Chairman of GenSource Capital Corporation, a TSX-V listed company and to the Independent Review Committee of Energy Income Fund and Citadel Income Fund, both are TSX listed companies.

The current Board of Directors of the Company is comprised of:

Michael Newman Chairman (i)
Robert Dodds Executive Director
Rick Bonner Director (i)
John Sadowski Director (i)
Dexter D.S. John Director (i)
(i) Independent director

The Audit Committee of the Company is comprised of Messrs. Michael Newman, John Sadowski and Dexter D.S. John. The Governance, Compensation and Nominating Committee of the Company is comprised of Messrs. Dexter D.S. John, Michael Newman and Rick Bonner.

Dr. Bob Dodds, President and CEO of Augustine, states: "The appointment of Mr. Newman as Chairman is attributed to his long standing proven record as a Director of public listed companies. We are fortunate to have Mr. Newman's guidance and experience in leading the Company."

The Company also announces that it has increased a recently proposed $3.0 million Private Placement to a $3.5 million Private Placement. The terms of the Private Placement will remain the same. For further information on the proposed Private Placement, please refer to the press release of the Company, dated December 27, 2012.

About Augustine Ventures Inc.

Augustine Ventures Inc. is a junior gold exploration company which has an option to earn up to a 75% interest on the Wawa Gold Project which encompasses 2,345 hectares in McMurray Township, southeast of the Town of Wawa, Ontario. Over 95 percent of the property consists of leases and/or patents for both mineral and surface rights that are easily accessible. The property has a gold resource of 1.1 million ounces at 1.5 g/t (NI 43-101 compliant) with known depth extension to 600 meters, a history of past production from the known vein deposits and a large number of untested but documented gold occurrences. Augustine has also acquired a 100% undivided interest in an additional 161 claim units known as the Oakley Lake Property totalling 2,576 hectares adjacent to its Wawa Gold Project.

This news release may contain forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent filings with Canadian securities regulatory authorities on Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

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