GoldON Resources Ltd V.GLD

Private Placement

[Veteran1]

New fresh capital should help to fast track this project

AUGEN GOLD CORP.

GLD: TSX-V

Price (October 14): $0.08

52-Week Range: $0.215-$0.025

Shares Outstanding: 32.4 million

Market Cap: $2.6 million

PRIVATE PLACEMENT OF UP TO $1,000,000

Augen Gold Corp. has arranged a non-brokered private placement of up to $1,000,000 through the sale of 10,000,000 units at $0.10 per unit. Investors will have a choice of units - Series A or Series B.

Series A Units

The Series A unit comprises one common share and one common share purchase warrant. A full purchase warrant entitles the holder to acquire a common share at $0.15 in year one, $0.20 in year two, $0.30 in year three, $0.40 in year four, and $0.50 in year five, for an aggregate period of five years from the closing date (subject to certain timing and price provisions).

Series B Units

The Series B unit comprises one share and one common share purchase warrant. A full purchase warrant entitles the holder to acquire a common share on a flow-through basis at $0.20 for a period of five years from the closing date (also subject to certain timing and price provisions).

Use of Proceeds

The financing is subject to regulatory approval and closing. The proceeds will be used to fund exploration and working capital.