Augen Gold

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TORONTO, ONTARIO--(Marketwire - March 25, 2011) - Augen Gold Corp. (TSX VENTURE:GLD) is pleased to announce that it plans to commence a NI 43-101-compliant report on its South Swayze project. Located approximately halfway between Sudbury and Timmins in Ontario and accessible by road year-round, Augen Gold's 45-km-long property includes a large claim position in Chester Township, surrounding the Cote Lake gold discovery.


Two well-respected Senior Geologists, Patrick Chance, M.Sc., P.Eng. and James G. Burns, B.Sc., P.Eng., will perform the principal work. Messrs. Chance and Burns, independent geologists with a combined experience of more than 80 years, have considerable in-depth knowledge of both the Superior Province and lode gold deposits. They will prepare a 43-101-compliant review of the South Swayze project. The preparatory work for the project assessment has been completed by two Qualified Persons, both employed by Augen Gold -- Gordon McRoberts, P.Geo., for work from 2009 onwards, & Chris Marmont, P.Geo., for work performed between 2007 and 2009. Messrs. Burns and Chance's CVs will be placed on Augen Gold's web site.


Additional information, including surveying of collars and obtaining specific gravity measurements, will be gathered in the next two weeks, before submitting data generated from Augen Gold's 2010 drilling to create an updated 3-D model for the near-surface portion of the Jerome deposit.


The final project report will also comment on the potential for several high-priority targets at the North Shore and West Cote Lake areas, as well as within the 46 claims of GLD's Option/Joint Venture with Sanatana (see press release dated 15 February 2011). GLD's property comprises the Jerome Mine property, plus patented, staked, and optioned claims within a large land position stretching from Chester to Esther Townships. The claims in Chester are contiguous with Trelawney Mining's property, on which the Cote Lake zone is situated.


This 43-101-compliant project assessment is to be the foundation of a more comprehensive 43-101-compliant resource assessment. Discussions are ongoing with several widely recognized geological consulting firms with the capability to complete the resource assessment. At this juncture, assuming staff is available, the resource assessment should be completed before the end of May.



About Augen Gold's South Swayze Project




Augen Gold is a gold exploration company with 23,685 hectares of staked and patented mining claims in the Southern Swayze Greenstone Belt, including the formerly producing Jerome Gold Mine. The claims cover a 45-kilometre long section of the Ridout Deformation Zone, believed to be the western extension of the Kirkland Lake/Larder Lake Break. The geological setting is comparable to the major gold camps of Timmins and Kirkland Lake, and the claims contain numerous gold showings that have received very little historical exploration. Augen Gold is the first company to have assembled such a coherent ground position. Augen Gold has performed a detailed airborne geophysical survey over the whole area, and its sampling program has confirmed the historically reported gold values. The correlation of many gold showings with geophysical features indicates excellent potential for the discovery of additional deposits. The Company's objectives are to aggressively explore the gold showings that correlate with geophysical anomalies, continue resource definition at the Jerome Mine, and to expand its property portfolio with highly prospective mineral assets.


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