Shares outstanding: 24,880,685
TORONTO, Aug. 22 /CNW/ - Augen Gold Corp. ("Augen Gold" or the "Company")
(TSX-V: AUJ) today announced the granting of 412,000 stock options to
employees and consultants at an exercise price of $0.70 per share pursuant to
the Company's stock option plan. The options vest over three years and expire
in five years. The issuance is subject to the Exchange's four month and one
day hold period and regulatory approval.
Under the Company's stock option plan, 10% of the issued capital or
2,488,068 common shares are reserved for issuance. Including the above grant,
a total of 412,000 options are outstanding under the stock option plan.
The Board of Directors consists of Bob Francis, Joe Leeder, Andrew Burns,
Michael Fowler, and J. David Mason.
About Augen Gold
Augen Gold Corp. is a gold exploration company with 24,042 hectares of
mining claims over a 45 kilometre length located in the Swayze Greenstone
Belt, including the formerly producing Jerome gold mine and directly adjacent
to the Young Shannon gold deposit. The Company's objective is to aggressively
explore the Jerome mine in order to confirm existing and identify NI 43-101
compliant gold resources, to explore the gold potential along strike on the
contiguous mining claims, and to continue to expand its property portfolio
with highly prospective mineral assets. The information contained in this news
release has been reviewed and approved by Augen Gold's Senior Vice-President,
Exploration, Christopher Marmont, P.Geo., who is the qualified person for
Augen Gold's Jerome Project under the definitions established by National
Instrument 43-101. The diamond drilling program was conducted under direct
supervision of Mr. Marmont.
For more information on Augen Gold, visit our website at www.augengold.ca
The Company's public documents may be accessed at www.sedar.com
The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
This news release contains forward-looking statements. These statements
are based on information currently available to the Company and the Company
provides no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect
that the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the
Company's mineral properties, 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
minerals; 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 other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on the Company's forward-looking statements.
The Company does not undertake to update any forward-looking statement that
may be made from time to time by the Company or on its behalf, except in
accordance with applicable securities laws.
For further information:
For further information: Michael G. Fowler, Chief Executive Officer,
Augen Gold Corp., Tel: (416) 777-2007 Ext 224, Toll-free: 888-442-8436 Ext
224; John F. Walter, John Walter Communications, Tel: (647) 430-0197