Augyva Mining Resources Inc.

Augyva Mining Resources Inc.

March 27, 2008 17:43 ET

Augyva Mining Resources Inc.: Update on Exploration Activities

LA MACAZA, QUEBEC--(Marketwire - March 27, 2008) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) is pleased to provide the following update:

Augyva is currently performing a magnetic survey on iron ore deposits no 3, 4, 5 and 6 on its Duncan property in order to determine their extension.

A PP survey is presently performed on the Senneville property in Val d'Or where drilling results on a hole graded 6.37 g/t Au over 2.83 m in 1982.

Augyva has compiled the last results of its 2007 exploration drilling program on its Yasinski property. A corridor of disseminated and stringer sulphides mineralization with anomalous copper and gold values has been identified. This mineralization, labelled zone 15, is 8 to 40 meters wide and extends for at least 350 meters. It remains open to the north and at depth. The zone was first intersected with holes 07-02 and 07-03 drilled on section 15+00 (previously released on October 31, 2007) which intersected 8 meters grading 1.12% Cu and 0.71 g/t Au in hole 2, and 4 meters of 0.57 % Cu and 4.1 g/t Au in hole 3. Holes 07-04 and 07-05 were drilled as step out holes to the north on sections 15+50 and 16+00. Hole 04 returned 49 meters at 0.22% copper from 199.45 to 248.45meters, including 8 meters of 0.5% copper and 0.15 g/t Au from 225.45 to 233.45 meters. Hole 05 returned 33 meters of 0.33% copper from 163.5 to 196.5 meters including 7.5 meters of 0.64% copper and 0.24 g/t Au from 189 to 196.5 meters.

Hole 07-10 was drilled on section 17+00 and intersected a gabbroic dyke cross cutting the mineralization. A previous hole, 18+00-1, stored at the core shack on site, drilled in 1990 on section 18+80 North was relogged. Further core samples were analyzed returning 8.6 meters of 0.23% copper and 0.23 g/t Au from 49.8 to 54.4 meters. This intercept correlates with the mineralization in holes 04 and 05.

Holes 07-06 and 07-07 were step out holes to the south on section 14+00N and returned minimal values effectively closing zone 15 to the south. The mineralization occurs in a sequence of mafic to intermediate volcanic with occasional tuffaceous units. Augyva is planning a follow up program testing zone 15 at depth and its extension to the north.

Other gold and copper geochemical targets were also tested. Hole 07-08 returned 0.78 g/t gold over 8 meters from 103 m to 111 m. Hole 07-13 returned 6.25 meters of 0.2% copper and 0.3 g/t gold from 73.75 to 80 meters. Other targets tested by hole 07-09, 11 and 12 returned low values.

Augyva is planning for this year a radiometric survey on the Apple formation which occurs on the Yasinski property. The Apple formation is an Archean conglomeratic sedimentary unit prospective for uranium mineralization. The Apple deposit with historical resources of 9 millions tons at 0.05% U3O8 (GM 29772), recently purchased by Strateco lies approximately 10 kilometers South of Yasinski.

This Press release was written and reviewed by Georges-Yvan Gagnon, professional geologist (OGQ) and fulfills the requirements to be a qualified person for the purpose of National Instrument 43-101.

Augyva Mining Resources is a mineral exploration company actively exploring favourable metallogenic belts in James Bay and Abitibi, Quebec. Augyva holds 100% interest on its gold and polymetallic properties of Yasinski and Kali, and on the Duncan Lake iron ore deposit in James Bay, and on its Senneville and Malartic properties in Abitibi.

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

Contact Information

  • Augyva Mining Resources Inc.
    Georges-Yvan Gagnon, Geologist
    President and CEO