Augen Capital grants options to new Board

    Shares outstanding: 36,615,615

    TORONTO, July 11 /CNW/ - Augen Capital Corp. ("Augen" or the "Company")
(TSX-V: AUG) today announced the granting of 700,000 stock options to the new
Board of Directors at an exercise price of $0.25 per share pursuant to the
Company's stock option plan. The options vest over three years and expire in
five years. The issuance is subject to the four month Exchange hold period and
regulatory approval.
    Under the Company's stock option plan, 10% of the issued capital or
3,661,562 common shares are reserved for issuance. Including the above grant,
a total of 3,500,000 options are outstanding under the stock option plan.
    The new Board of Directors consists of Tony Busseri, Michael Fowler,
Michael Harris, James Kelleher, J. David Mason, Roger Muelhaupt and Hugh
    Mr. Busseri has been named Audit Committee Chair, and Mr. Harris will
Chair the Governance, Nomination, and Compensation committees, as well as
being Lead Director.

    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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