Augustine Ventures is Added to the CSE Composite Index

TORONTO, ON / ACCESSWIRE / June 23, 2016 / Augustine Ventures Inc. WAW ("Augustine" or the "Company") is pleased to announce that it has recently been added to the CSE Composite Index.

Dr. Robert (Bob) Dodds, Chief Executive Officer, states, "We are honoured to be included in the CSE Composite Index as it validates Augustine's progress in advancing its gold exploration property. The Canadian Securities Exchange has consistently, and promptly, provided a high level of service which is essential to a junior exploration company in varying economic times in the commodity sector."

About Augustine Ventures Inc.

Augustine has an ownership interest in the Wawa Gold Project (the "Property") which consists of 2,426 hectares of patented claims and 2,912 contiguous crown claims located on the east shore of Lake Superior in the Town of Wawa about 225 kms north of Sault Ste. Marie, Ontario. The Property is linked by all-weather road to TransCanada Highway 17 and Highway 101 to Timmins.

The Property hosts an inferred resource of 1,088,000 ounces of gold at 1.71 grams per tonne using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth[1].

Dr. Robert (Bob) Dodds, Chief Executive Officer of Augustine states "The results of our exploration work continue to confirm the geological modeling and increase our confidence that this inferred resource[1] is part of a larger gold system which can be significantly increased.  

Planned and on-going work on the property, in addition to exploration work, includes prefeasibility studies which can enhance the value of the property. These studies consist of buildup of the existing environmental data baseline for the mine permit process, applicability of ore sorting technology and alternative power generation."

Bob Dodds continues, "In addition to hosting an open pit mineable resources with ready infrastructure, another significant attribute of this property is that it is located in a safe political jurisdiction, both at the international and local community levels. Mine acquirers have noted the dearth of viable mining properties in Canada considered to be in safe political jurisdictions, and we believe our property can serve to fill this need"

Augustine entered into an Assignment and Assumption Agreement and Joint Venture Agreement ("JVA") with Citabar LLP and Red Pine Exploration Inc.(Red Pine), The Wawa Gold Project is now owned by Citabar/Red Pine/Augustine in the ratio of 40%, 30% and 30%, respectively. Red Pine and Augustine are currently expediting negotiations to consolidate ownership of the Property.

[1] NI 43-101 Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, prepared by SRK Consulting (Canada) Inc (effective May 26, 2015). The cut-off grades are based on a gold price of US$1,250 per ounce and a gold recovery of 95 percent. The statement is available on www.SEDAR.com under Red Pine's profile.

For additional information contact:

Augustine Ventures Inc.
Robert (Bob) Dodds, President & CEO
Tel: Office at (416) 363-2528 or Cell Phone at (905) 599-2025
Fax 1-(866)-288-3582
Website: www.augustineventures.com
Email: bdodds@augustineventures.com

This news release may contain forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate," "believe," "plan," may," "could," "would," "might" or "will," "estimates," "expect," "intend," "budget," "scheduled," "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent filings with Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

SOURCE: Augustine Ventures Inc.