March 12, 2008 14:55 ET

eResearch Updates Coverage on Augen Capital Corp.

TORONTO, ONTARIO--(Marketwire - March 12, 2008) - eResearch is maintaining its Speculative Buy Recommendation on Augen Capital Corp. and raising the 12-month Target Price to $0.66 from $0.55 as originally set out in our Initiating Report of March 31, 2006.

Augen Capital Corp. is a merchant bank specializing in financing and investing in emerging and mid-cap resource companies, primarily in the mining sector.

The Company has an impressive record of issuing tax-advantaged Flow-Through Limited Partnerships and has raised approximately $54 million through these vehicles since mid-1997. These operations have recently been transferred to a joint venture with BluMont Capital to benefit from BluMont's marketing organization and, commensurately, reduce Augen's administrative costs. Augen will continue to source mining flow-through investments for future flow-through funds.

Augen's merchant banking operation manages a $5.6 million portfolio of junior resource companies and provides merchant banking services for emerging mining companies.

This Press Release was prepared by eResearch and was not vetted by Augen Capital Corp. Further, the Recommendation and Target Price contained in this report are strictly those of eResearch and, due to securities laws, are not endorsed by Augen Capital Corp.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Augen Capital Corp. paid eResearch a fee of C$10,000 + GST to conduct research on the Company, on a Single Report Coverage basis.

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