Augyva Announces Award of Stock Options
November 02 2011 - 7:00AM
Marketwired
Augyva Mining Resources Inc. (TSX VENTURE:AUV) (Augyva or the
Company) today announced that its Board of Directors had granted a
total of 1,800,000 options under the Company's Incentive Stock
Option Plan to directors, officers and consultants with vesting
over eighteen (18) months. The options are exercisable for a term
of 5 years at $0.38 per common share. The closing price of Augyva
shares on the TSX Venture Exchange on November 1st was $0.38.
About Augyva Mining Resources Inc.
Augyva is an exploration and development company holding five
(5) properties located in the James Bay and Abitibi regions of the
Province of Quebec. Its major project is its interest in the Duncan
Lake Iron Ore Property located in the western part of the La Grande
Greenstone Belt. The property is accessible by road and covers
5,848 hectares. A National Instrument 43-101 compliant technical
report on the mineral resource was prepared by Met-Chem Canada Inc.
and was released in March 2010. The Duncan Lake Iron Ore Property
is subject to a joint venture agreement between Augyva Resources
and Century Iron Mines Corporation which has earned a 51% interest
and is currently making additional exploration expenditures to
increase their interest to 65%.
In addition to the Duncan Lake Iron Ore Project, Augyva holds a
100% interest in four other mineral properties, namely: Yasinski
and Kali in the James Bay region and Senneville and Malartic in the
Abitibi region. At these mineral properties, the exploration focus
is for other than iron ore.
This news release may contain certain forward-looking
information. All statements included herein, other than statements
of historical fact, are forward-looking information and such
information involves various risks and uncertainties. There can be
no assurance that such information will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such information. A description of assumptions used
to develop such forward-looking information and a description of
risk factors that may cause actual results to differ materially
from forward-looking information can be found in Augyva's
disclosure documents on the SEDAR website at www.sedar.com. Augyva
does not undertake to update any forward looking information except
in accordance with applicable securities laws.
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.
Contacts: Kuldeep Billan Director 416-309-2198www.augyva.com
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