MONTREAL, QUEBEC--(Marketwire - Feb. 7, 2012) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) ("Augyva" or the "Company") announced today that further to its press release of January 31, 2012, the TSX Venture Exchange ("TSX-V") has conditionally approved the Company's intention to commence a normal course issuer bid (the "Bid") to repurchase from time to time up to 5,286,076 of its common shares (the "Shares"), representing 10% of its public float in respect of the Shares. Purchases will be made for cancellation through the facilities of the TSX-V.
The Bid will commence on Friday, February 10, 2012 and will terminate Friday, February 8, 2013.
About Augyva Mining Resources Inc.
Augyva is an exploration and development company holding five (5) properties located in the James Bay and Abitibi regions of the Province of Quebec. Its major project is its interest in the Duncan Lake Iron Ore Property located in the western part of the La Grande Greenstone Belt. The property is accessible by road and covers 25,602.54 hectares. A National Instrument 43-101 compliant technical report on the mineral resource was prepared by Met-Chem Canada Inc. dated February 03, 2010. The Duncan Lake Iron Ore Property is subject to a joint venture agreement between Augyva and Century Iron Mines Corporation which has earned a 51% interest and is currently making additional exploration expenditures to increase their interest to 65%.
In addition to the Duncan Lake Iron Ore Project, Augyva holds a 100% interest in four other mineral properties, namely: Yasinski and Kali in the James Bay region and Senneville and Malartic in the Abitibi region. At these mineral properties, the exploration focus is for other than iron ore.
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.
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.
Contact Information:
Chairman and Interim CEO
416-309-2198