Business
Augen Gold Announces Shares for Debt
Augen Gold Announces Shares for Debt
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"\n\n\n\nDec. 31, 2009 (Canada NewsWire Group) -- TORONTO, Dec. 31 /CNW/ -- Augen Gold Corp. (\"Augen Gold\" or \"the Company\") (TSX-V: GLD) has agreed to convert $143,928.87 owed to Chenier Drilling Services Inc. for conducting an exploration program on the Company's 100% owned Swayze Property in Northern Ontario announced on November 12, 2009 into 1,439,288 common shares at a deemed price of $0.10 per share.Augen Gold has also agreed to convert $57,243.74 owed to JVX Ltd. for line cutting, camp services and DPGS Magnetometer/VLF and Spectral IP/Resistivity Surveys into 572,437 common shares at a deemed price of $0.10 per share.The common shares to be issued will be subject to a four-month hold period from the date of issuance. The issuance of the common shares will not result in a change of control.These transactions have been approved by the TSX Venture Exchange.About Augen GoldAugen Gold is a gold exploration company with 24,581 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.For more information on Augen Gold, visit our website at www.augengold.ca.The Company's documents may be accessed at www.sedar.comNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy o...