Confirmation of Record Date and Clarification of Management's Proxy Circular of Augyva Mining Resources Inc.



    Augyva Mining Resources Inc. (TSX-V; AUV)

    MONTREAL, April 18 /CNW Telbec/ - On March 13, 2007, dissident
shareholders of Augyva Mining Resources Inc. (the "Corporation") published a
press release in order to give notice of a special meeting of shareholders of
the Corporation to be held April 25, 2007 à 2:00 p.m (the "Meeting"). Since
then, the dissident shareholders have sent to the shareholders of the
Corporation a proxy circular dated March 29, 2007, which was drafted pursuant
to applicable statutory provisions (the "Dissident Proxy Circular") together
with a proxy form, urging shareholders to vote in favour of revoking the
directors of the Corporation and voting for candidates that will act as
fiduciaries and in the best interest of all shareholders of the Corporation.
    Since then, the Corporation's Management has responded, amongst others,
by naming a new director and sending to the shareholders its own proxy
circular dated April 2, 2007 (the "Management Proxy Circular"), which does not
comply with all applicable statutory provisions pertaining to this matter and
furthermore contains errors and omissions, including:

    
    - The Record Date stated by Management is erroneous and should read
      March 13, 2007 rather than April 2, 2007. The dissident shareholders
      consider that this attempt to change the Record Date creates confusion
      and is solely done in order to favour votes for Management and in
      consideration of a private placement, which closed after the Meeting
      was convened by the dissident shareholders, and after exercise of share
      options by certain Officers of the Corporation;
    - The sections of the Management Proxy Circular pertaining to Directors
      and Officers' remuneration should also indicate, as made public on
      SEDI, that:

      (i)     On February 16, 2006, Management of the Corporation cancelled
              480,000 options initially granted to Georges-Yvan Gagnon at an
              exercise price of $0,26 and then, on the same day, granted to
              Georges-Yvan Gagnon 600,000 new share options at an exercise
              price of $0,10;
      (ii)    On February 6, 2006, Management of the Corporation cancelled
              420,000 share options initially granted to Linda Paulin
              (Georges-Yvan Gagnon's spouse) at an exercise price of 0,26 $
              and then, on the same day, granted to Lynda Paulin, 600,000 new
              share options at an exercise price of $0,10;
      (iii)   On March 2, 2007, Management granted 300,000 new share options
              to Frank Ricciuti, newly named Director, which options can be
              exercised at a price of $0,48 per option until February 15,
              2012;
      (iv)    On March 21, 2007, Management granted 125,000 new share options
              to Kerry Damon Smith, a newly elected Director of the
              Corporation, which share options can be exercised at a price of
              $0,52 until March 15, 2012;
      (v)     On March 21, 2007 and on March 30, 2007, Georges-Yvan Gagnon
              exercised a total of 500,000 share options at a price of $0,10;
      (vi)    On March 21, 2007 and on March 30, 2007, Lynda Paulin also
              exercised a total of 500,000 share options at a price of $0,10;
      (vii)   Explorations GYG Ltée, a company controlled by Management,
              specifically Georges-Yvan Gagnon and Linda Paulin, related
              persons, is a constant supplier of services to the Corporation.

    - On February 25, 2007, Management of the Corporation announced the
      granting of 325,000 share options at a price of $0,48 per option for a
      period of 5 years to consultants whose mandate and identity are not
      known, facts which Management of the Corporation has omitted to
      disclose;
    - On March 17, 2007, the Management of the Corporation announced a
      private placement of $900,000.00 and payment of a cash amount of
      $90,000.00 to an intermediary whose identity has not been disclosed.
      The dissident shareholders consider that this cash payment is
      exaggerated given the circumstances.
    

    The dissident shareholders are of the opinion that Management lacks
transparency and that the Board of Directors' decisions should be taken in
consideration and in the best interest of all shareholders. The dissident
shareholders strongly recommend that shareholders vote in favour of their
resolution.

    NOTICE IS HEREBY GIVEN TO ALL CONCERNED that the effective Record Date
which will be recognized for the special shareholder Meeting of April 25,
2007, at 2:00 p.m. shall be March 13, 2007, which is the Record Date appearing
at the Dissident Proxy Circular and is compliant with section 6.2 of National
Instrument 54-101 and only the Corporation's common sharesholders registered
on March 13, 2007 will have the right to vote at the Meeting.

    The Corporation's Management is hereby summoned to correct, by public
notice, the Record Date of the April 25, 2007 Meeting as it appears in the
Management Proxy Circular, in the absence of which, this press release hereby
modifies the Record Date appearing at the Management Proxy Circular.

    The TSX Venture assumes no responsibility for the content or accuracy of
    this press release.




For further information:

For further information: Talbot & Associés, Lawyers, C/O: Counsel Robert
Talbot, Legal Counsel representing the Dissident Shareholders, (450) 686-1122,
extension 252

Organization Profile

AUGYVA MINING RESOURCES INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890