Augen Capital Further Strengthens Board of Directors with Appointment of Mike Harris

    TORONTO, July 3 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG) today
announced the appointment of Michael D. Harris to the Company's Board of
    Mike Harris was Premier of Ontario from 1995 to 2002 and was first
elected to the Ontario Legislature in 1981 representing the northern Ontario
riding of Nipissing. He also served as Minister of Natural Resources and
    Currently President of his own consulting firm, Mr. Harris serves as an
advisor to a leading Canadian law firm, Goodmans LLP, and several Canadian
companies. Mr. Harris also serves on the boards of several public companies

    -   Magna International Inc. (Lead Director and Chair of the Corporate
        Governance and Compensation Committee);
    -   Chartwell Seniors Housing REIT (Chair of the Board of Trustees and
        member of the Compensation, Governance and Nominating Committee);
    -   Canaccord Capital Inc. (Director and Chair of the Corporate
        Governance and Compensation Committee);
    -   EnGlobe Corporation (Chairman of the Board);
    -   FirstService Corporation (Director); and
    -   ENMAX Corporation (Director).

    Mr. Harris is also a Director of the Tim Horton Children's Foundation and
the Mount Royal College Foundation. He is a Senior Fellow with the Fraser
Institute, a leading Canadian economic, social research and education
    "We are very pleased to welcome Mike Harris as a Director of Augen. His
experience and business acumen will add considerable depth to the Company's
strong existing Board," said David Mason, Chairman of Augen Capital.
    Mr. Harris joins Chairman David Mason, Tony Busseri, Michael Fowler,
James Kelleher, Roger Muelhaupt and Hugh Squair on the Board of Directors of
Augen Capital.

    About Augen Capital

    Augen Capital Corp. (TSX-V: AUG) ("Augen") 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 $75 million in flow-through limited
partnership assets since inception, including over $31 million raised since
September 2007 by Augen and its sales and distribution partner. 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

    The TSX Venture has not reviewed and does not accept responsibility for
    the adequacy or accuracy of this release.

For further information:

For further information: J. David Mason, Chairman, Tel: (416) 777-2007
Ext. 223; Michael G. Fowler, Chief Executive Officer, Tel: (416) 777-2007 Ext.

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