LA MACAZA, QC, April 21 /CNW Telbec/ - Augyva Mining Resources Inc.
(TSXV: AUV) ("Augyva" or the "Company") announces that it has raised
$2,631,825 in funds through the exercise of the "A" warrant expiring on
April 15, 2011. Total warrants of 5,848,500, or 97.5% of "A" warrants
issued, were exercised. Insiders exercised 1,979,000 warrants (or 100%
of warrants issued to insiders) for total proceeds of $890,550.
Following the exercise of their warrants, officers and directors now
own 24.3% of the common shares of the Company.
"We are extremely pleased with the continued support of our shareholders
and the $2.6 million will provide us with additional financial
flexibility to fund exploration work on Augyva's projects and to pursue
our overall expansion and acquisition strategy", said Georges-Yvan
Gagnon, President and CEO.
About Augyva Mining Resources Inc.
Augyva is an exploration and development company holding five (5)
properties located in the James Bay and Abitibi regions of the Province
of Quebec. Its major project under development is the Duncan Lake iron
ore Property located in the western part of the La Grande Greenstone
Belt and hosts Algoma type iron deposits in a volcano-sedimentary
sequence. The property, directly accessible by road, covers 5,848
hectares. Further to a drilling program of over 10,000 meters,
completed in May 2009, a National Instrument 43-101 compliant technical
report on the mineral resource estimate (the "Technical Report"), prepared by Met-Chem Canada Inc. ("Met-Chem"), was released in March 2010. Met-Chem has completed in December 2010
an internal opportunity study of the property. Augyva also awarded
Roche Ltd. the mandate to carry out an environmental scoping study
(ESS) for the project. Other iron and related opportunities continue to
be evaluated on an ongoing basis.
In addition to advancing the Duncan Lake iron ore project, Augyva holds
an 100% interest in four (4) other gold and base metal properties:
Yasinski (gold, platinum, chromite and other base metals) and Kali
(gold, copper and other base metals) in the James Bay region; and
Senneville (gold) and Malartic (gold) in the Abitibi region.
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.
This news release does not constitute an offer to buy or sell, or the
solicitation of an offer to buy or sell any of the securities of
Niocan. Such an offer can only be made pursuant to an offer to purchase
and accompanying offering circular filed with the securities regulatory
authorities in Canada.
This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact,
are forward-looking information and such information involves various
risks and uncertainties. There can be no assurance that such
information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
information. A description of assumptions used to develop such
forward-looking information and a description of risk factors that may
cause actual results to differ materially from forward-looking
information can be found in Augyva's disclosure documents on the SEDAR
website at www.sedar.com. Augyva does not undertake to update any forward looking information
except in accordance with applicable securities laws.
SOURCE AUGYVA MINING RESOURCES INC.
For further information:
Augyva Mining Resources Inc.
Vice-president and Chief financial officer
Frédéric Bérard, Attorney
HKDP Communications and Public Affairs
Tel.: 514-395-0375, ext. 259