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CONCERNED SHAREHOLDERS OUTLINE PLAN TO CREATE VALUE FOR LONG SUFFERING SHAREHOLDERS OF AUGEN GOLD

^{Published on 2010-09-17 13:21:15 - Market Wire}
 

 - Move forward the stalled process of defining and providing a NI 43-101 compliant resource estimate at the Jerome Mine. After $16 million raised and $7.2 million spent on exploration, shareholders and the market are right to expect a NI 43-101 resource estimate which has not been provided to this point. - Commence a drill program in the area immediately adjacent to the significant Trelawney Resources Cote Lake discovery. Trelawney Resources continues to delineate the Cote Lake deposit and recently referred to the drilling results as exceptional. Augen Gold holds the claims immediately adjacent to this deposit but has failed to implement a systematic drilling program to explore this part of the property. - The property that Augen Gold holds in the Swayze Greenstone Belt is large with excellent exploration upside. This potential for value creation needs to be advanced. - Explore potential strategic partnerships and value-creating transactions. 

 - the election of the Concerned Shareholders' nominees (Peter F. Chodos, Stephen C. Johnson, Hugh Aird and Judith Baker) as directors of Augen Gold; - the appointment of the auditors; and - the reapproval of the stock option plan