TSX Venture: "AUG" - Last: $0.105 Shares outstanding: 25,284,423 TORONTO, Aug. 29 /CNW/ - Augen Capital Corp announced today the price reservation for a non-brokered private placement of up to 2.5 (two and a half) million units. Each unit, priced at $0.10, will consist of one common share of Augen Capital Corp. and one full warrant. The warrant will entitle the purchaser to obtain a common share at a price of $0.25 for 24 months following the closing date. Finder's fees as permitted by the TSX Venture Exchange may be paid pursuant to this private placement. Quest Securities Corporation has acted as finder on the private placement. Proceeds will be used to meet ongoing corporate working capital requirements including but not limited to expenses related to the marketing of Augen Limited Partnership 2005, and the related private mutual fund managed by Augen Capital Corp. "We are pleased to have the support of Quest in this private placement, as it represents a significant step for Augen toward international recognition as a major player in financing emerging resource companies," said J. David Mason, Chairman of Augen Capital. About Augen Capital Augen Capital Corp. is a merchant bank specializing in the financing of early-stage resource companies. Over a six-year period, Augen's portfolios have outperformed a majority of competitive metal funds as well as the TSX precious metals index. Through Augen Capital Corp., the public company, investors indirectly and directly own over 150 emerging resource companies. Augen Capital now has more than $20 million under management, including a core portfolio of emerging resource stocks, three-resource flow-through LP's under management, and its mutual fund, Augen Resource 2 Balance Fund. Augen is an industry leader in tax-advantaged flow-through investments in Canada's resource sectors. Through a distribution force of national MFDA and IDA firms, Augen offers high-income and high net worth individuals resource flow-through tax sheltering, together with exposure to mineral, oil and gas exploration companies that are selected to potentially out perform the market. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00008335E