Augustine Ventures Inc.

Augustine Ventures Inc.

October 05, 2012 16:25 ET

Augustine Ventures Corporate Update

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2012) - Augustine Ventures Inc. (CNSX:WAW) ("Augustine" or the "Company") would like to announce that Mr. Wayne Isaacs has resigned as a director and as the President and Chief Executive Officer of the Corporation. Mr. John Sadowski has been appointed to the Board of Directors and Dr. Robert (Bob) Dodds has been appointed President and Chief Executive Officer of the Corporation.

Mr. Isaacs resigned from the Corporation to pursue other opportunities and the Corporation would like to thank Mr. Isaacs for his dedication and work on behalf of the Corporation and wishes him continued success in his future endeavours.

Dr. Dodds brings 42 years working experience in senior executive roles in the mining and energy sectors. His experience in the mining sector for base metals, gold, diamonds and uranium includes major project management, resource exploration, development and production. Some of the resource companies include Diavik Diamond Mine, Barrick Gold Corporation, The Kidd Creek Mine, Teck Resources Limited, Madawaska Mine and Goldlund. For the last 13 years, Dr. Dodds has held the positions of President and GM of various operating subsidiaries of Algonquin Power Utility Corp., a public trading company on the TSX, and a growing renewable energy and regulated utility company with over $1.7 billion in assets across North America.

Mr. John Sadowski, who is a currently a Director of Anconia Resources Corp., brings over 40 years of mining experience. He has been the President and Director of many junior mining companies in Northern Ontario. Mr. Sadowski has completed prospecting courses at Haileybury School of Mines and at the Ministry of Natural Resources and had his own prospecting company for many years. Mr. Sadowski is a lifetime member of the Prospectors and Developers Association of Canada.

"I am excited to be joining Augustine" said Mr. Sadowski. "The Corporation has done a remarkable job in advancing its Wawa Gold Property and I am looking forward to assisting the Corporation in the continuing development of the property."

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 vein deposits and a large number of untested but documented gold occurrences on the property.

This press release contains 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 annual information form filed with the 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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