Augen Gold

North Shore Opeepeesway Target

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TORONTO, ONTARIO--(Marketwire - Feb. 2, 2011) - Augen Gold Corp. (TSX VENTURE:GLD) is pleased to provide an update on gold exploration within its South Swayze Property.


Management will be available on a conference call at 4:00 PM on Wednesday. Please call one of these dial-in numbers: (416) 915-8692 (Toronto callers); +1-866-850-3418 (toll-free for North American callers); +1 800-0160-8097 (toll-free for global callers). The conference code is 8459021#.



NORTH SHORE



"Our results, though preliminary, have permitted us to refine our definition of at least six auriferous trends on the North Shore of Lake Opeepeesway, of which the southernmost two are based on high-grade intersections in two separate lake drill holes, completed from the barge last summer, with the most southerly being the probable extension of the 'Jerome Trend'", said J. David Mason, President and CEO of Augen Gold. "Readers are directed to a compilation map on the home page of our web site - AURIFEROUS TRENDS NORTH SHORE OPEEPEESWAY. There one can view clearly the preliminary results. Of particular note is the most northerly zone, coloured in red, which has several high-grade intersections. This northerly higher-grade zone could extend more than 2 kilometres in strike length. The most southerly trend is defined initially from a barge drill hole and is thought to be greater than 20 kilometres long, with a significant expression on land. Just north of this is a second high-grade trend at least 3 kilometres long. We are greatly encouraged by these results. Plans are being made to add a third drill to this area and expand the size of the NS Grid drill program considerably to more than 30 additional diamond drill holes."


Augen Gold has completed 21 drill holes for more than 5,200 metres using one drill in the North Shore area, located within the central part of Augen Gold's 45-km-long South Swayze property, 20 kilometres west-northwest of the West Cote Lake area and two-to-six kilometres northeast of the historical Jerome Mine.


The drill holes initially were able to target only the small portion of the largest and strongest SGH gold soil anomaly in the North Shore area that was accessible prior to freeze-up, as well as several I. P. chargeability anomalies and historic showings nearby. So far, assays for 15 drill holes include several anomalous gold intersections with highlights of 22.30 g/t Au over 0.37 m and 26.30 g/t over 0.70 m positioned along the axis of the main SGH anomaly. Together, these intersections and historical anomalous intersections of gold point to numerous west-to-northwest-striking auriferous trends in the area, one which marks the extension of gold mineralization at the past producing Jerome Mine.


Augen Gold is currently testing a frozen marshy area that can now support a diamond drill at a point where the main SGH gold soil anomaly (to the southeast) meets a prominent airborne magnetic low (to the northwest). The magnetic low is thought to mark significant and widely occurring iron-carbonate alteration, similar to that at the Jerome Mine, with sulphidization (iron oxide is replaced by sulphide).



WEST COTE



"As an additional update," added Mr. Mason, "We are seeing one trend at the West Cote Lake Grid in particular, very close to Trelawney, which we are currently testing. The West Cote Lake Grid is one of at least four important targets within the Augen Gold's South Swayze Property. It contains several trends which could be prolific and warrants an intensive drill program of more than 30 drill holes to 250 metres or deeper."


Readers are encouraged to refer to the maps titled "West Cote Lake Grid DDH Location Map", "Auriferous Trends North Shore Opeepeesway" and "North Shore Grid with DDH Locations (Assays Pending) & Future DDH Locations" posted on Augen Gold's website,


The information contained in this news release has been prepared by Augen Gold's Project Geologist, Gordon McRoberts, P.Geo., who is a Qualified Person for the Company's Jerome Project under the definitions established by National Instrument 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.


For more information on the South Swayze Project, please refer to the Company's NI 43-101 compliant technical report "Amended and Restated Technical Report on the Augen Gold Corp. Claims, Porcupine Mining Division, District of Sudbury, Ontario, Canada" (effective April 8, 2008, available on the Company's profile at >www.augengold.ca.


The Company's documents may also be accessed at >www.augengold.ca