AUGEN CAPITAL GRANTS STOCK OPTIONS AND ISSUES SHARES FOR DEBT

Shares outstanding: 65,187,039

TORONTO, Jan. 31 /CNW/ - Augen Capital Corp. ("Augen" or "the Company") (TSX-V: AUG) announces the granting of 1,050,000 options to purchase common shares of the Company to Directors, Officers and consultants of Augen, subject to regulatory approval.

The stock options, 900,000 of which are fully vested at the time of issuance with the balance vesting over a period of three years, 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 6,518,703 common shares.  Including the above grant, a total of 4,600,000 options are currently outstanding under the stock option plan.

The Company also announces, subject to approval of the TSX Venture Exchange, the issuance of 150,000 common shares at a deemed price of $0.08 per common share to a Director of the Company in settlement of outstanding debt owing to the Director.

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.

SOURCE Augen Capital Corp.

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

Profil de l'entreprise

Augen Capital Corp.

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