Augen Capital Files Notice of Meeting and Management Information Circular

Shareholders Are Reminded to Vote Their BLUE Proxy Prior to the September 3rd, 2010 Deadline

Shares outstanding: 36,615,615

TORONTO, Aug. 18 /CNW/ - Augen Capital Corp. ("Augen Capital" or the "Company") (TSX-V: AUG) today announced the filing of its Notice of Meeting and Management Information Circular (the "Circular"), in advance of its Annual and Special Meeting of Holders of Common Shares (the "Meeting"), to be held on Wednesday, September 8, 2010. The Circular and related documents can be found on the Company's website, www.augencc.com, or at www.sedar.com, and has been mailed to shareholders.

About the Special Meeting of Holders of Common Shares

The Meeting will take place on Wednesday, September 8, 2010 at 10:00 a.m. (Toronto Time) in Boardroom No. 3 at the offices of Stikeman Elliott LLP, 5300 Commerce Court West, 100 Bay Street, Toronto, Ontario, M5L 1B9.

In order for their vote to count at the Meeting, shareholders as of the August 9, 2010 Record Date should vote their BLUE Proxy to ensure it is received prior to the proxy voting deadline at 4:00 p.m. (Toronto Time), Friday, September 3, 2010. If shareholders have any questions or need assistance voting their shares, they should call Kingsdale Shareholders Services Inc. toll free: 1-866-581-1392 or e-mail [email protected].

About Augen Capital

Augen Capital is a Toronto-based public merchant bank specializing in the financing of and investment in resource companies. The Company manages a merchant banking portfolio of resource stocks.

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

Neither the 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 of this release.

This news release contains forward-looking statements. These statements are based on certain factors and assumptions as set forth in this news release including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to results of exploration, project development, reclamation and capital costs of the companies in the merchant banking portfolios ("investee companies"), 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 the minerals the investee companies expect to produce; 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 investee companies. Additional risks and uncertainties can be found in our Management's Discussion and Analysis and in filings with the Canadian provincial securities commissions. Forward-looking statements are given only as at the date of this news release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

For further information: Peter F. Chodos, Interim President and Chief Executive Officer, Tel: [phone], [email protected]