Augen announces listing on Frankfurt Exchange and option grant

    Shares outstanding: 35,915,615

    TORONTO, June 14 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG) is
pleased to announce that it has completed the listing requirements and that
the company's shares are now trading on the Frankfurt exchange under the
symbol (UGN-Fr). The Frankfurt listing was initiated to provide European
investors trading liquidity in their time zone and to facilitate a broadening
investor interest in the company.
    Augen also announces that it has granted today 100,000 stock options to
officers, directors and/or consultants. The options vest equally over a three
year period, and are exercisable at $0.65 over a term of five years. The
issuance is subject to shareholder approval of an amendment to the stock
option plan, the four month Exchange hold period, and regulatory approval.

    About Augen Capital

    Augen is a Toronto-based merchant bank which primarily invests in early
stage resource companies through its core investment portfolio and is an
industry leader in tax-advantaged mineral flow-through investments in Canada's
resource sector.

    For more information on Augen please visit our website at
    Augen's public documents may be accessed at

    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 certain factors and assumptions as set forth in this new release
including expected growth, results of operations, performance and business
prospects and opportunities. While the Company considers these factors and
assumptions to be reasonable based on information currently available, they
may prove to be incorrect. A number of factors could cause actual results to
differ materially from those in the forward-looking statements, including, but
not limited to results of exploration, project development, reclamation and
capital costs of the companies in the merchant banking portfolios ("investee
companies"), 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 the minerals the investee
companies expect to produce; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; technological
and operational difficulties encountered in connection with the activities of
the Company's and investee companies. Forward-looking statements are given
only as at the date of this news release and the Company disclaims any
obligation to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.

    %SEDAR: 00008335E

For further information:

For further information: J. David Mason, Chairman, Tel: (416) 777-2007
Ext. 223,

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