Augustine Venture Inc.

March 28, 2011 16:36 ET

Augustine Ventures Announces Appointment of New Board of Directors

TORONTO, ONTARIO--(Marketwire - March 28, 2011) - Augustine Ventures Inc. ("Augustine" or the "Company") would like to announce the appointment of George Michael Newman and Rick Bonner as new members to the Board of Directors and the resignation of John Tokarsky as a director.

Wayne Isaacs, Chairman and CEO stated that "On behalf of the Board of Directors, of the Company, I would like to thank Mr. Tokarsky for his contributions as a director and we look forward to his continued management role as Chief Financial Officer and Secretary of Augustine. We welcome Mr. Newman and Mr. Bonner to the Board of Directors as Augustine will benefit greatly from their tremendous respective knowledge and experience in public company management and mineral exploration".

Mr. Newman has over 35 years of senior management and public company experience. Mr. Newman is currently the CEO and Board of Directors of Caldera Geothermal Inc. Mr. Newman was most recently CEO of InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) from December 2006 to September 2009, and President and CEO of InterRent International Properties Inc. (TSX VENTURE:IIP) from 1999 to 2006. InterRent was founded by Mr. Newman in 1997 to acquire multi-unit residential properties within the Greater Toronto Area and under his leadership grew from 9 to 4,033 units during which time Mr. Newman raised over $130 million for the company which was named one of Canada's 100 Fastest Growing Companies by Profit Magazine for two consecutive years, 2008 and 2009.

Mr. Bonner brings over 30 years of exploration experience to the Augustine Ventures board. His career has spanned four continents and included difficult jurisdictions in the Far East, Russia, Central Asia and Africa. Mr. Bonner's work included base metals, gold, diamonds and uranium with a number of major and junior mining companies including BHP and RTZ (Diavik). Most recently Mr. Bonner co-founded Westport Resources which he developed into a significant Namibian exploration company for Forsys Metals Corp., a TSX listed advanced stage uranium development company operating in Namibia, Africa. This work included advancing Forsys' flagship uranium property, the Valencia Uranium Deposit from the exploration stage to reserve-resource definition stage with the recent additions, the Company's Board of Directors, and management team includes:

Board of Directors:  
   
Wayne Isaacs: Chairman
George Michael Newman: Director (i)
Rick Bonner: Director (i)
Stewart Wright: Director (i)
   
(i) denotes independent director  
   
Management: 
   
Wayne Isaacs: Chief Executive Officer
John V. Tokarsky: Chief Operating Officer and Secretary

About Augustine Ventures Inc.

Augustine Ventures Inc. is a junior gold exploration company which has secured an option to earn a 60% interest on the Wawa Gold Project which encompasses 2,345 hectares in McMurray Township, southeast of the town of Wawa. 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 known depth extension to 600 meters, a history of past production from the known deposits and a large number of untested but documented gold occurrences on the property. Funds raised pursuant to this offering will be used for further exploration of this property and general and administrative purposes.

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