Augyva Mining Resources Inc.
TSX VENTURE : AUV

Augyva Mining Resources Inc.

April 01, 2011 15:30 ET

Augyva Announces Status of Previously Announced Private Placement

LA MACAZA, QUEBEC--(Marketwire - April 1, 2011) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) (« Augyva ») announces that the contemplated brokered private placement that was to be led by Industrial Alliance Securities Inc., as previously announced by news release dated February 7, 2011, shall not occur.

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 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. («Met-Chem»), 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.

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

  • Frederic Berard, Attorney
    Special Advisor
    HKDP Communications and Public Affairs
    514-395-0375, ext. 259
    or
    Augyva Mining Resources Inc.
    Georges-Yvan Gagnon - P. Geologist
    President and Chief Executive Officer
    819-275-1614
    819-275-2254 (FAX)
    www.augyva.com