Augyva Announces Brokered Private Placement

LA MACAZA, QUEBEC--(Marketwire - Feb. 7, 2011) - Augyva Mining Resources Inc. ("Augyva" or, the "Company")(TSX VENTURE:AUV) has entered into an agreement with Industrial Alliance Securities Inc. ("IAS") in respect of a brokered private placement financing consisting of up to 8,333,333 units (the "Units") at a purchase price of $0.60 per Unit to raise total gross proceeds of up to $5,000,000 (the "Private Placement") on a commercially reasonable effort agency basis for accredited investors only.

The Units will consist of one (1) common share and one-half of one (½) common share purchase warrants. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of eighteen (18) months from the date of issuance (the "Warrant Term"), at an exercise price of $0.85 per share. However, should the volume weighted average closing price of the Company's common shares, as traded on the TSX Venture Exchange (the "Exchange"), exceed $1.00 per common share for more than 20 consecutive trading days following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant Term to the date which is 20 days following the date a press release is issued by the Company announcing the reduced Warrant Term.

Net proceeds of the Units will be used for exploration works on its properties located in the province of Québec and strategic acquisitions and working capital purposes.

Certain directors, officers and insiders of Augyva may acquire Units under the Private Placement. Any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization. The securities issued will be subject to a four month and one day hold period.

The Private Placement will be subject to approval by the Exchange.

About Augyva Mining Resources Inc.

Augyva is an exploration and development company with holding five (5) properties located in the James Bay and Abitibi regions of the Province of Quebec. Its major project under development is the Duncan Lake Property located in the western part of the La Grande Greenstone Belt and hosts Algoma type iron deposits in a volcano-sedimentary sequence. The property, directly accessible by road, covers 5,848 hectares. Further to a drilling program of over 10,000 meters, completed in May 2009, a National Instrument NI 43-101 compliant technical report on the mineral resource estimate (the « Technical Report »), prepared by Met-Chem Canada Inc., was released in March 2010. Met-Chem has further continued to carry out an internal opportunity study of the property. Augyva also awarded Roche Ltd. the mandate to carry out an environmental scoping study (ESS) for the project. Other iron and related opportunities continue to be evaluated on an ongoing basis.

In addition to advancing the Duncan Lake Iron Ore Project, Augyva holds an 100% interest on four (4) highly prospective gold and base metal properties: Yasinski (gold, platinum, chromite and other base metals) and Kali (gold, copper and other base metals) in the James Bay region, and: Senneville (gold) and Malartic (gold) in the Abitibi region. For more information about Augyva, go to www.augyva.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.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Augyva's disclosure documents on the SEDAR website at www.sedar.com. Augyva does not undertake to update any forward looking information except in accordance with applicable securities laws.