Augyva Mining Resources Inc.
TSX VENTURE : AUV

Augyva Mining Resources Inc.

March 02, 2007 10:26 ET

Augyva Announces Private Placement

LA MACAZA, QUEBEC--(CCNMatthews - March 2, 2007) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) announces that it will raise up to $900,000 by way of a private placement. The Company intends to sell up to 1,800,000 units to qualified investors at a price of $0.50 per unit. Each unit consists of one Common Share and one half Common Share Purchase Warrant. Each whole Warrant entitles the holder to acquire one additional common share at a price of $0.75 per share for a period of one year after the close of the offering.

The warrants will be subject to an accelerated expiry if, at anytime following the trade restriction period of four months and one day from the date of distribution, the weighted average trading price of the common shares of the Company is equal or greater than $0.95 for any twenty consecutive trading days. In that event, the holder will be given notice that the Warrants will expire in twenty (20) days following the date of such notice. The Warrants may be exercised by the holder during the 20-day period between the notice and the expiration of the Warrants.

The Company will pay finder's fee as allowed by the policies of the TSX Venture Exchange.

Net proceeds of the offering will be used for advancing the Company's projects and for working capital.

Augyva is a mining exploration Company with 5 properties located in James Bay and in Abitibi, Quebec.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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