Augen Capital Announces Rollover of Augen Limited Partnership 2007

    TORONTO, April 7 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG)
announced today that Augen Limited Partnership 2007, CUSIP No. 05104Q106 (the
"Partnership"), will be proceeding with a transaction pursuant to which it
will transfer its assets to BluMont Augen Resource Strategy Fund Inc. (the
"Mutual Fund"), an open-end mutual fund corporation, on a tax-deferred basis,
in exchange for redeemable Class E Shares of the Mutual Fund ("Mutual Fund
Shares"). The exchange ratio will be based on the respective net asset values
of the Partnership and the Mutual Fund at the close of business on April 30,
    The effective date of the Transaction (the "Effective Date") is expected
to be April 30, 2009. Within 60 days of the Effective Date, the Mutual Fund
Shares that the Partnership will receive as consideration for the transfer of
its assets will be distributed to the limited partners on a pro rata basis and
thereafter the Partnership will be dissolved. A copy of the current offering
memorandum for the Mutual Fund is available on request from its manager,
BluMont Capital Corporation, by e-mail at or by
telephone at (866) 473-7376.

    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 including private companies and is an industry
performance leader in tax-advantaged flow-through investments in Canada's
resource sector having raised over $80 million in flow-through limited
partnership assets since inception. Augen holds over one hundred gold, base
metals and uranium exploration and development public and private companies
with direct holdings in its merchant banking portfolio and consulting assets
in flow-through limited partnerships.

    For more information on Augen Capital, visit our website at

    The Company's public documents may be accessed at

    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.

    %SEDAR: 00008335E

For further information:

For further information: J. David Mason, Chairman and Chief Executive
Officer, Tel: (416) 479-3300, Toll-free: (888) 442-8436,

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