Augustine Announces Extension of High-Grade Gold Zones Outside the Surluga Gold Deposit

Toronto, Ontario--(Newsfile Corp. - October 1, 2015) - Augustine Ventures Inc.'s (CSE: WAW) joint venture partner and Operating Manager of the Joint Venture Agreement (JVA), Red Pine Exploration Inc. ("Red Pine"), announced on September 30, 2015 the third round of assay results from the Summer 2015 exploration program. The samples cover gold zones located away from the immediate vicinity of the inferred resources of the Surluga Gold Deposit¹ (see Figure 1).

Figure 1. Overview of Summer 2015 Surface Sampling Program on Wawa Gold Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/698/17499_august1enhanced.jpg

Root and Cooper-Ganley Vein Systems

Channel samples² taken in well exposed parts of the Root vein, located in the hanging wall of the Jubilee Shear Zone and 1 kilometre north of the Surluga Gold Deposit, returned grades between 1.98 grams per tonne ("g/t") gold over 1.5 metres and 9.74 g/t gold over 2.88 metres with several occurrences of coarse flakes of visible gold.

The historic Cooper Mine is located 1.4 kilometre NE of the Surluga resource. Grab samples taken 300 metres ESE along strike of the structure in a shear-hosted quartz lens returned grades between 0.005 g/t and 25.4 g/t gold. This supports a strike length extension of the structurehosting the historic Cooper Mine and indicates the fertility of the eastern contact between the intrusion that hosts the Surluga Gold Deposit and volcanic rocks.

Parkhill Mine

Channel samples taken in a vein located 125 metres south in the hanging wall of the Parkhill Mine, located 1.1 kilometre SSE of the Surluga Gold Deposit, returned 9.21 g/t gold over 1 metre. Grab samples collected along strike of that vein returned gold grades between 12.9 g/t and 54.1 g/t gold. This provides a good indication that a potential stack of high-grade quartz exists in the Parkhill Mine. Further surface exploration work in the area will aim to validate this hypothesis and extend the strike length of the existing high-grade veins at surface.

New Gold-Bearing Shear Zone Identified in the Northwest Extension of the Property

Recognizing the spatial association between dioritic intrusion and gold-bearing shear zone, a new claim block was staked, covering mapped diorite slivers. Prospecting uncovered a new gold-bearing shear zone located 2 kilometres west of the Surluga Gold Deposit with representative grab samples of sheared material and quartz veins returning gold grades between 0.006 g/t and 1.78 g/t gold. This discovery is promising as almost every gold-bearing shear zone identified on the Wawa Gold Project is known to host subzones of high-grade gold mineralization.

Quentin Yarie, President and CEO of Red Pine states "The field programs since December 2014 are now starting to highlight the true potential of the Wawa Gold Project. With numerous high-grade gold zones exposed at surface and high-grade gold zones of the Surluga Gold Deposit resource open at depth, there is a high potential to define new high-grade gold resources beyond the existing inferred resources that contains over 1 million ounces of gold¹."

Geophysical Crew Now Mobilized to the Hornblende and Mickelson/Sunrise Deformation Zone

As they both have the potential to rapidly increase the existing gold resources, exploration is being prioritized along the Hornblende Shear and the Mickelson/Sunrise Deformation zones, respectively, located in the immediate footwall and hanging wall of the defined resource (the Surluga Gold Deposit¹).

To optimise the upcoming drill program in the Hornblende and the Mickelson/Sunrise Deformation Zone, geophysical crews have been mobilized to refine the 3D pictures of the sampled high-grade gold zone, reaching up to 28.04 g/t gold over 2.75 metres in the Mickelson/Sunrise Deformation Zone (see Augustine News Release of September 24, 2015). A drill program is expected to follow shortly after the geophysical results are received and interpreted.

Dr. Robert (Bob) Dodds, President and Chief Executive Officer of Augustine, states, "these latest results from the Summer 2015 exploration program (see Augustine News Releases of September 21, 2015 and September 24, 2015) are very gratifying since they show the potential to rapidly increase the existing resource¹. The discovery of the new gold-bearing shear zone in the northwest extension of the Wawa Gold project extends gold fertility in a new area previouslyconsidered barren of any gold mineralization and shows that even after a century of exploration, the potential to uncover gold plays still exists on the Wawa Gold Project".

On-site Quality Assurance/Quality Control ("QA/QC") Measures

Grab samples are selected based on geological features such as veins, presence of mineralization, higher alteration and/or higher deformation with each sample bagged in situ in the field. Channel samples are collected with a portable diamond rock saw and bagged in situ on the field. Metal tags are placed along the channel to record the location of each sample. Each channel is 4 to 6 centimetres wide over the full length of the channel.

Grab and channel samples are transported in security-sealed bags for analyses at Activation Laboratories Ltd. in Ancaster, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. All grab and channel samples are geo-referenced.

A quality-control program has been implemented to comply with best practices in the sampling and analysis of field samples. As part of its QA/QC program, external gold standards are inserted (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

Qualified Persons

Quentin Yarie, P. Geo., is the Qualified Person, as defined in NI 43-101, responsible for preparing, supervising and approving the scientific and technical content of this and is responsible for overseeing all aspects of the exploration programs.

Any technical information in this new release presented by Augustine has been reviewed by Dr. Ed Walker, Ph.D., P. Geo, a Qualified Person as defined in NI 43-101.

Wawa Gold Project Highlights

• NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 g/t gold 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 depth¹ ;

• Additional gold mineralization present, but not well defined, in the hanging wall and footwall secondary structures indicate that the contained gold of the pit-constrained resource can be increased and would significantly improve the economics of the resource¹;

• Strike length continuity for some gold-bearing structures exceed 2.5 kilometres with potential continuous gold mineralization;

• Advantageous land position in an under-explored gold camp that hosted eight past producing mines with average grades of 8.9 g/t gold;

• Close proximity to established regional infrastructure (roads, rail, airport, high voltage power line) and a skilled workforce;

¹The Mineral Resource is disclosed in the NI 43-101 technical report titled "Mineral Resource Statement*, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc (effective May 26, 2015)". The report is available on www.SEDAR.com under Red Pine's profile. Cut-off grades are based on a gold price of US$1,250 per ounce and a gold recovery of 95 percent.

²Readers are cautioned that the true width of channel samples could not be determined from the information available although channel samples were collected perpendicular to strike. Also, grab samples are selective by nature. The grades and mineralization present are not necessarily representative of other mineralization that may be identified on the property.

About Augustine Ventures Inc.

Augustine Ventures Inc. is a junior gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the CSE under the symbol "WAW".

Augustine has a 30% interest in the Wawa Gold Project and has entered into a Joint Venture Agreement (JVA) with Citabar LLP and Red Pine Exploration Inc. The Wawa Gold Project is now owned by Citabar/Red Pine/Augustine in the ratio of 40%, 30% and 30%, respectively. Under the terms of the JVA, Red Pine is the Operating Manager and will continue to explore and advance the current gold resource on the property. Red Pine is currently expediting negotiations to consolidate ownership of the Wawa Gold Project.

For additional information contact:

Augustine Ventures Inc.
Robert (Bob) Dodds, President & CEO
Tel: (416) 363 2528
Cell: (905) 599-2025
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.