Augen Capital grants options to new board

    Shares outstanding: 36,615,615

    TORONTO, June 12 /CNW/ - Augen Capital Corp. ("Augen" or the "Company")
(TSX-V: AUG) today announced the granting of 1,000,000 stock options to the
newly-elected Board of Directors at an exercise price of $0.10 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
3,661,561 common shares are reserved for issuance. Including the above grant,
a total of 2,650,000 options are outstanding under the stock option plan.
    The newly-elected Board of Directors consists of Tony Busseri, Michael
Harris, Victor Koloshuk, J. David Mason, and Hugh Squair.
    Mr. Harris has been named Chairman of the Board of Directors and will
also Chair the Governance and Nomination committees. Mr. Busseri has been
named Audit Committee Chair.

    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. Augen holds and consults on 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.

For further information:

For further information: J. David Mason, President & Chief Executive
Officer, Tel: (416) 479-3300,

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