Eresearch update
AUGEN GOLD CORP.
GLD: TSX-V
Price (November 12):
.085
52-Week Range:
.215-
.025
Shares Outstanding: 36 million
Market Cap: $3.06 million
1. 2009 EXPLORATION PROGRAM UNDERWAY AT SWAYZE
2. SECURED LOAN FACILITY AGREEMENT
1. Southern Swayze Exploration Program
An exploration program has begun at Augen Gold’s 100%-owned southern Swayze property in
northern Ontario. The program will comprise line-cutting, and ground geophysical and geological
surveys, allowing Augen to refine a planned drill program of over 3,000 metres that will test (1) up to
10 gold occurrences that were identified in 2008, and (2) targets within the newly acquired Huffman
property.
Completion of the program is expected by the end of 2009. The program, if time and funding are
adequate, will allow for further definition of the southern Swayze property in preparation for a planned
NI 43-101 compliant technical report.
2. Secured Loan Facility
Augen Gold has entered into a non-revolving secured loan facility, whereby the Company may borrow
up to $1,100,000 from Augen Capital Corp. The interest rate is 12% per annum for either a six-month
term from the date of the first advance (if Augen Gold draws on $500,000 or more by January 31,
2010), or a 12-month term from the date of the first advance (if Augen Gold draws on less than
$500,000 by January 31, 2010)
In exchange for providing the facility, Augen Gold will provide security in favour of Augen Capital
over all the real and personal property of Augen Gold - including all staked and patented mining
claims held by Augen Gold in the southern Swayze Greenstone Belt, Porcupine Mining Division,
District of Sudbury, Ontario.
The facility will assist Augen Gold to satisfy its existing flow-through obligations, and to advance its
current drilling program.
Augen Capital, the lender, beneficially owns, directly or indirectly, or exercises control or direction
over about 32% of the issued and outstanding common shares of Augen Gold. The facility, because of
this relationship, is considered to be a “related party transaction”.
For further details on the exploration program and the secured loan facility, see Augen Gold’s and
Augen Capital Corp.’s November 12, 2009 news releases, available on SEDAR at www.sedar.com.