Augyva Announces Private Placement Offering

MONTREAL, QUEBEC--(Marketwired - April 7, 2014) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) ("Augyva" or the "Company") is pleased to announce it has received conditional approval from the TSX Venture Exchange (TSXV) to complete a non-brokered private placement offering of a minimum of 26,086,956 units and up to a maximum of 43,478,260 units of the Company (each, a "Unit") at a price of $0.115 per Unit for aggregate minimum gross proceeds of $3 million and maximum gross proceeds of $5 million (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Placement Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at an exercise price of $0.14 at any time prior to 5:00 p.m. (Toronto time) on the date that is 5 years following the closing date of the Offering, subject to accelerated expiry in certain circumstances. If, commencing four months after the closing of the Offering, the common shares of Augyva trade at or above $0.18 on the TSXV for a minimum of 30 consecutive trading days, then Augyva shall have the right to give notice of early expiry of the Warrants. Early expiry shall accelerate and be automatically amended to be the 30^th day after the date on which Augyva gives notice to the holders of Warrants of such acceleration.

Augyva intends to use the net proceeds from the Offering to finance future acquisitions, general corporate purposes and working capital, including for the engagement of a full time Chief Executive Officer and other staff as required. The Placement Shares, the Warrants and the Warrant Shares will be subject to a hold period expiring four months and one day after closing of the Offering.

Augyva is also pleased to announce that it has appointed Kuldeep Billan, CFA, a Director of Augyva, to act as full time Chief Executive Officer of the Company with such appointment conditional upon the closing of the Offering.

The closing of the Offering is expected to occur in one or more tranches over the next week. There are no finder's fees associated with the Offering. Closing of the Offering is subject to receipt of the requisite approvals, including approval of the TSXV.

About Augyva Mining Resources Inc.

Augyva is an exploration and development company holding five properties located in the James Bay and Abitibi regions of the Province of Quebec. Its major project is its 35% interest in the Duncan Lake Iron Property located in the western part of the La Grande Greenstone Belt. The property is accessible by road and covers approximately 25,602 hectares. Augyva received the results of a National Instrument 43-101 compliant Preliminary Economic Assessment prepared by Met-Chem Canada Inc. in March 2013. The property is subject to an option and joint venture agreement between Augyva and Canadian Century Iron Ore Corporation which has 65% interest in the property.

In addition to the Duncan Lake Iron Property, 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.

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. In particular, this news release contains forward-looking information relating to the closing of the Offering. 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. In particular, there are certain known and unknown risks, uncertainties and other factors that may cause the closing of the Offering not to occur, including but not limited to: risks related to capital markets, general economic conditions, legislative and regulatory developments and the regulatory approval process for the Offering. In addition, 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.