NEW BOARD OF AUGEN CAPITAL MOVING SWIFTLY TO CREATE SHAREHOLDER VALUE

Augen Capital encourages other shareholders of Augen Gold to join it in supporting the ISS recommended Augen Gold Nominees

TORONTO, Sept. 28 /CNW/ - Augen Capital Corp (TSXV:AUG) ("Augen Capital" or the "Company") has a majority of new directors following the Order of the Ontario Superior Court of Justice released yesterday afternoon. Properly elected directors Conor S. Bill and Stephen Johnson are joined by directors Norman Brewster, Alan Cruickshank, Peter Miller and Michael Newman.

The properly constituted Board met today and elected Mr. Norman Brewster Chairman of the Company. The Board placed Peter Chodos, President and CEO, and Manish Kshatriya, CFO, on administrative suspension with pay while the conduct and directions of the improperly elected Board are reviewed. Mr. Alan Cruickshank has been appointed Acting President and CEO of the Company.

The Board also authorized a variety of actions to take full control of the records and assets of the Company.

Augen Capital has acted to change its vote to support the nominees and other business proposed by management of Augen Gold at their upcoming meeting. Augen Capital encourages other shareholders of Augen Gold to join it in supporting the ISS - recommended Augen Gold Nominees. The Board of Augen Capital is impressed by the record of value creation at Augen Gold and will be looking to ensure that Augen Capital pursues a growth oriented strategy in the future.

Neither 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 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.

For further information: Alan Cruickshank, Acting President, Chief Executive Officer and Director, Augen Capital Corp. Or Robin Sundstrom, Communications, Augen Captial Corp, Tel., 647-822-8111