Shares outstanding: 24,880,685
TORONTO, July 10 /CNW/ - Augen Gold Corp. ("Augen Gold" or the "Company")
(TSX-V: AUJ) announced today that it has signed an Exploration Agreement
("EA") with the First Nations Partnership, which comprises the Mattagami,
Brunswick House and Flying Post First Nations. These First Nations groups
assert treaty and aboriginal rights on lands which include Augen Gold's Jerome
mining claims south-west of Timmins, Ontario. The terms of the agreement cover
the following: consulting and advisory services, employment and training,
business opportunities, on-going communication and environmental consultation.
The EA includes a commitment for the First Nations Partnership and Augen Gold
to negotiate an Impact Benefits Agreement, should the property proceed to the
"Augen Gold has enjoyed a positive and constructive relationship with the
First Nations Partnership in developing this Exploration Agreement," said
Michael Fowler, President and Chief Executive Officer of Augen Gold.
"Importantly, the agreement sets out a defined path for the First Nations
people and Augen Gold to proceed to an ultimate development decision at
Jerome. It also ensures that Native values and cultural sites will be
protected. We see this agreement as a win-win situation for both parties."
Chris McKay, negotiator for the First Nation Partnership, said: "We
believe Augen Gold is at the leading edge of First Nation
relationship-building and understanding of our Treaty and Aboriginal Rights.
Augen Gold's approach to our communities before early exploration is something
we have requested the province to make standard practice since it leads to the
best outcome for all parties, including the province."
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 is directly
adjacent to the Young Shannon gold deposit. The Company's objective is to
aggressively explore the Jerome mine in order to determine the gold potential
along strike on the contiguous mining claims, and to continue to expand its
property portfolio with highly prospective mineral assets.
Please refer to Augen Gold's web-site for maps, photographs, geological
details and additional information.
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, President and Chief
Executive Officer, Tel: (416) 777-2007 Ext 224, Toll-free: (888) 442-8436 Ext
224; John F. Walter, John Walter Communications, Tel: (647) 430-0197;
Christopher McKay, Lands and Resources Manager for Mattagami First Nation,
Tel: (705) 894-2072, (705) 266-3597