Gensource Potash Corp.TSXV: GSP

Augen reception & presentation following Annual General & Special Meeting of Shareholders Wednesday, May 17, 2006

· Issued by Gensource Potash Corp. via CNW
TORONTO, May 16 /CNW/ - Augen Capital Corp. (the "Company") (TSX-V: AUG)
is pleased to extend a general invitation to attend the Company's reception
and presentation following the 2005 Annual General & Special Meeting of
Shareholders.
Augen management will present the fiscal 2005 Highlights and 2006
Outlook.

What?    Reception & Presentation

When?    Wednesday May 17, 2006, at 5:30 pm

Where?   The Hilton Hotel, "Jackson Foyer"
             145 Richmond Street West
             Toronto, ON
             416-860-6817

About Augen Capital

Based in Toronto, Augen is a merchant bank specializing in the financing
of primarily early stage resource companies and is an industry leader in   
tax-advantaged flow-through investments in Canada's resource sector. Our
Managed Products division earns fees related to the limited partnerships and
mutual funds including setup, due diligence, and annual and performance fees.
Our Merchant Banking division provides financing and strategic management
support to resource investee companies and strives to maximize net gains
realized on its core investment portfolio of emerging resource stocks. Augen
has over $30 million in assets under management, including its merchant
banking investment portfolio, four resource flow-through limited partnerships,
and its mutual funds.

For more information on Augen Capital, visit our website at
www.augencc.com

The company's public documents may be accessed at www.sedar.com

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