Shares outstanding: 49,916,560
TORONTO, May 6 /CNW/ - The board of directors of Augen Gold Corp. ("Augen Gold" or the "Company") (TSX-V: GLD) announced the appointment of Mr. Peter F. Chodos as a director. Mr. Chodos has over 30 years' experience in financing and mergers and acquisitions in a variety of economic sectors. Mr. Chodos is a director and the Interim President and Chief Executive Officer of Augen Capital Corp., which owns 23% of the Company's issued and outstanding shares. Mr. Chodos is also Executive Vice President and Chief Operating Officer of OreReserve Asset Management Inc., the Manager of Augen Capital Corp., pursuant to a Management Agreement entered into in 2009.
The board of directors of Augen Gold is now comprised of: Chairman, Mr. James Sbrolla; Chairman of the Audit Committee, Mr. Tim Peterson; Mr. Lorne A. Woods, each being independent directors according to National Instrument 52-110; and Mr. Peter F. Chodos and Mr. J. David Mason who are non-independent directors.
About Augen Gold
Augen Gold is a gold exploration company with 23,877 hectares of staked and patented mining claims in the Southern Swayze Greenstone Belt, including the formerly producing Jerome Gold Mine. The claims cover a 45 kilometre long section of the Ridout Deformation Zone, believed to be the western extension of the Kirkland Lake/Larder Lake Break. The geological setting is comparable to the major gold camps of Timmins and Kirkland Lake, and the claims contain numerous gold showings that have received very little historical exploration. Augen Gold is the first company to have assembled such a coherent ground position. Augen Gold has performed a detailed airborne geophysical survey over the whole area, and its sampling program has confirmed the historically reported gold values. The correlation of many gold showings with geophysical features indicates excellent potential for the discovery of additional deposits. The Company's objectives are to aggressively explore the gold showings that correlate with geophysical anomalies, continue resource definition at the Jerome Mine, and to expand its property portfolio with highly prospective mineral assets.
For more information on Augen Gold, visit our website at www.augengold.ca
The Company's documents may be accessed at www.sedar.com
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.
SOURCE AUGEN GOLD CORP.
For further information: For further information: J. David Mason, Chief Executive Officer and Director, Augen Gold Corp., Tel: (416) 779-7074 or (416) 777-2007, Toll-free: 1-888-442-8436, Email: email@example.com