Augyva Mining Announces Shareholder Meeting

TORONTO, ONTARIO--(Marketwire - Aug. 3, 2012) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) ("Augyva" or the "Company") announces that it will hold its annual and special meeting of shareholders on August 29, 2012 (the "Meeting") and has sent a management information circular and related proxy materials to shareholders of record. The Company has fixed July 25, 2012 as the record date for determining shareholders entitled to receive notice of and to vote at the Meeting.

The Meeting will include special business relating to the implementation of an amended and restated stock option plan (the "Amended Plan") and the ratification of an updated general by-law of the Company (the "Updated By-Law"). The proposed changes to the Amended Plan are aimed at ensuring consistency with the rules and policies of the TSX Venture Exchange.

The Updated By-Law, which was approved by the Company's board of directors, amends and restates the Company's current By-Law No. 2008, relating generally to the conduct of the affairs of the Company. Among other things, the Updated By-Law: (a) increases the level of shareholder participation required to make quorum at a shareholders' meeting from 5% to 10% of the Company's issued and outstanding shares; and (b) includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company other than pursuant to a requisition of a meeting made pursuant to the provisions of the Canada Business Corporations Act (the "Act") or a shareholder proposal made pursuant to the provisions of the Act (the "Advance Notice Requirement").

The Advance Notice Requirement fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth information that a shareholder must include in the notice to the Company for the notice to be in proper written form.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than thirty (30) nor more than sixty-five (65) days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than fifty (50) days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made no later than the close of business on the tenth (10^th) day following such public announcement.

Notwithstanding the foregoing, with respect to the Meeting, any notice delivered to the Company prior to the close of business on August 13, 2012 shall be deemed to have been timely delivered under the Advance Notice Requirement.

In accordance with the Act, adoption of the Updated By-Law is subject to ratification by shareholders at the Meeting. The full text of the Updated By-Law is available on SEDAR at www.sedar.com.

About Augyva Mining Resources Inc.

Augyva is an exploration and development company holding five (5) properties in the James Bay and Abitibi regions of Quebec.

The Company's major project is a 49% interest in the world class Duncan Lake Iron Ore Project located in the western part of the La Grande Greenstone Belt which is subject to a Joint Venture and Option agreement with Canadian Century Iron Ore Corporation. Century has earned a 51% interest in the property and is continuing expenditures to increase their interest to 65%. Both NI43-101 reports and a preliminary economic assessment for the property are expected in summer 2012.

Cautionary Statement

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.