AUGEN CAPITAL GRANTS STOCK OPTIONS

Shares outstanding: 36,615,615

TORONTO, Dec. 9 /CNW/ - Augen Capital Corp. ("Augen" or "the Company") (TSX-V: AUG) today announces the granting of 3,400,000 options to purchase common shares of the Company to Directors and Officers of Augen, subject to regulatory approval.

The stock options are fully vested at the time of issuance and are exercisable at a price of $0.10 per common share over a period of five years from the date of issuance.

Under the Company's 10% "rolling" stock option plan, the Company can currently have outstanding options to acquire up to a maximum of 3,661,561 common shares.  Including the above grant, a total of 3,650,000 options are currently outstanding under the stock option plan.

About Augen Capital
Augen Capital Corp. ("Augen") (TSX-V: AUG) is a Toronto-based public merchant bank specializing in the financing of and investment in emerging resource companies.  Augen manages a merchant banking hard dollar portfolio of emerging resource stocks.

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.

This news release contains forward-looking statements. These statements are based on certain factors and assumptions as set forth in this news release including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to results of exploration, project development, reclamation and capital costs of the companies in the  merchant banking portfolios ("investee companies"), and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for the minerals the investee companies expect to produce; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company and investee companies.  Additional risks and uncertainties can be found in our Management's Discussion and Analysis and in filings with the Canadian provincial securities commissions. Forward-looking statements are given only as at the date of this news release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Gensource Capital Corporation

For further information: For further information:

Manish Z. Kshatriya, Chief Financial Officer
Tel: (416) 479-3302
Toll-free: (888) 442-8436

investorrelations@augencc.com

For more information on Augen Capital, visit our website at www.augencc.com
The Company's public documents may be accessed at www.sedar.com

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Gensource Capital Corporation

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