Augen Limited Partnership 2005 Final Prospectus filed

TORONTO, April 28 /CNW/ - Augen Capital Corp. (AUG: TSX-V) is pleased to
announce that the final prospectus has been filed for the previously announced
launch of Augen Limited Partnership 2005. The documentation is available at
www.sedar.com under Augen Limited Partnership 2005. The Final Prospectus is
filed in all Provinces except Quebec and offers emerging resource flow through
limited partnership units, with a minimum of $2,500,000 and an issue maximum
$15,000,000. Agents for the issue are IPC Securities Corp., Berkshire
Securities, Wellington West Capital and Foster and Associates.
Augen believes its 2004 Limited Partnership is one of the top performing
flow through limited partnerships as of the end of February 2005. Augen has
raised over $20M from investors in 10 previous limited partnerships. Since
2002 completed Partnerships achieve liquidity through the Augen Resource
2 Balance Mutual Fund which as of the end of February 2005 had over 20% rate
of return since inception in the fall of 2002.
Mr. Gerald P. McCarvill, a director of Augen Capital Corp. ('Augen')
since February, 2004 has tendered his resignation from the Board of Directors
effective April 26, 2005. The Board wishes to thank Mr. McCarvill for his
contributions to the Company over the past 15 months.

About Augen Capital Corp.

Based in Toronto, Augen is a merchant bank specializing in the financing
of, and investment in early stage resource companies and is an industry leader
in tax advantaged flow through investments in Canada's resource sectors. Augen
has raised over $20 million from investors in ten previous limited
partnerships. The Company now has over $15 million in assets under management,
including a core portfolio of emerging resource stocks, two Resource      
Flow-Through Limited Partnerships, and its mutual fund, Augen Resource
2 Balance Fund.
The Augen Limited Partnership 2004-1 is one of the top performing      
flow-through limited partnerships as of February 28, 2005.

On behalf of the Board of Directors,

"J. David Mason"
Chairman


The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.

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This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the British
Columbia Securities Commission and the United States Securities & Exchange
Commission.


%SEDAR: 00008335E