GLD GoldOn Resources Ltd

Augen Gold Corp. (TSX VENTURE:GLD) ("Augen" or "GLD") notes the announcement by
Trelawney Mining and Exploration Inc. ("Trelawney") that it intends to make a
formal offer to acquire all of the outstanding shares of Augen in exchange for
shares of Trelawney.


The Board of Directors of Augen has appointed a special committee of independent
directors to consider the announcement as well as any formal offer actually
made. Until Augen completes its review it will not comment or speculate further
as to any future course of action that the Company might take.


Augen is disappointed to report that attempts to engage Trelawney in meaningful
discussions were rebuffed by Trelawney since receipt of Trelawney's offer at
4:51 p.m. on Friday, July 8, 2011. 


Augen advises its shareholders not to deposit any common shares of Augen to any
offer made by Trelawney and not to take any action concerning the possible
Trelawney offer until Augen shareholders have received further communication
from the Board of Directors of Augen. In the event that an actual offer is made,
the Board of Directors of Augen will issue a directors' circular concerning the
offer. The directors' circular will contain important information including the
determination of the Board of Directors of Augen with respect to a
recommendation to Augen shareholders.


The Special Committee of the Board of Directors of Augen have engaged Paradigm
Capital Inc. as financial advisors and Fraser Milner Casgrain LLP as legal
advisors. 


About Augen Gold

Augen Gold is a gold exploration company with 23,685 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 the South Swayze Project, please refer to the Company's
NI 43-101 compliant technical report "Amended and Restated Technical Report on
the Augen Gold Corp. Claims, Porcupine Mining Division, District of Sudbury,
Ontario, Canada" (effective April 8, 2008, available on the Company's profile at
www.sedar.com, along with the Company's other documents). For more information
on Augen Gold, visit our website at www.augengold.ca.


Follow our blog at www.augengold.wordpress.com, and follow us on www.twitter.com
(#augengoldcorp).


This news release contains forward-looking statements. These statements are
based on information currently available to the Company and the Company provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that
the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.


Shares outstanding: 127,691,347

Grafico Azioni GoldOn Resources (TSXV:GLD)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni GoldOn Resources (TSXV:GLD)
Storico
Da Giu 2023 a Giu 2024