AUQ AUQ Gold Mining Inc

Further to their joint news releases dated March 5th and July 18, 2007, Aurogin
Resources Ltd. ("Aurogin") (TSX VENTURE:AUQ) and Morgain Minerals Inc.
("Morgain") (TSX VENTURE:MGM) are pleased to announce that their shareholders
have voted overwhelmingly to approve the amalgamation of the companies under the
terms and conditions contained in the Joint Information Circular dated July 18,
2007, and to adopt the Board recommended stock option plan. At a meeting of
Aurogin shareholders held Friday, August 17, 2007, the amalgamation was approved
by 97% of the votes cast representing 43% of Aurogin's outstanding shares. At a
meeting of Morgain shareholders held later that day, the amalgamation was
approved by 99% of the votes cast representing 30% of Morgain's outstanding
shares. The TSX Venture Exchange (the "TSX-V") has conditionally accepted the
amalgamation.


The amalgamation is expected to close on or before August 29, 2007 and will
create a new corporation, Castle Gold Corporation ("Castle Gold"), which subject
to final acceptance by the TSX-V, will begin trading in approximately 7 to 10
days under the trading symbol "CSG". Shareholders of Aurogin will receive one
(1) common share of Castle Gold for each two (2) Aurogin shares held immediately
prior to the date on which the transaction becomes effective, and shareholders
of Morgain will also receive one (1) common share of Castle Gold for each two
(2) Morgain common shares held. Upon completion of the amalgamation,
shareholders of Aurogin and Morgain will received a Letter of Transmittal
setting out the procedure to be followed in order to exchange their share
certificates for certificates representing shares of Castle Gold.


"This marks an historic moment for Aurogin and Morgain shareholders. Their
overwhelming support ushers in the creation of a new gold producer, ultimately
aimed at filling a growing void in the intermediate producer sector," said
Christopher E. Babcock, soon to be President and CEO of Castle Gold. "Our
organization will have increased reserves and resources, geographical synergies,
a stronger mine-building team and a management team committed to focusing its
efforts on growing shareholder value in both the near- and long-term." 


"The unquestionable support from the shareholders of both companies clearly
demonstrates their enthusiasm towards the creation of Castle Gold," said John H.
Paterson, President and CEO of Aurogin. "Aurogin shareholders are gaining access
to both a tremendous team at Morgain and to an excellent asset with a 12 year
mine life at El Castillo." 


Castle Gold will jointly operate and own 50% of the El Sastre gold mine in
Guatamala and operate the 100% owned El Castillo gold mine in Mexico. In
addition, Castle Gold will continue work on the La Fortuna property in Mexico
with the goal of producing a National Instrument 43-101 compliant resource aimed
at advancing the property towards production. Work will also continue on various
other mining properties with the goal of increasing resources and creating
additional shareholder value. 


ON BEHALF OF AUROGIN RESOURCES LTD.

John H. Paterson, President and Chief Executive Officer

Issued: 66,561,387 common shares

ON BEHALF OF MORGAIN MINERALS INC.

Christopher E. Babcock, President and Chief Executive Officer 

Issued: 72,629,908 common shares 

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

The technical and pre-feasibility reports referred to above contain
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to,
statements with respect to the future price of metals, timing of exploration
activities, mine life, economic viability and estimated internal rate of return,
estimation of mineral resources, the results of drilling, estimated future
capital and operating costs, future stripping ratios, projected mineral recovery
rates and plans for developing, the projects. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might" or "will be
taken", "occur" or "be achieved". Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of the companies
to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related to the
exploration and potential development of the projects, risks related to
international operations, the actual results of current exploration activities,
conclusions of economic evaluations, changes in project parameters as plans
continue to be refined, future prices of metals. Although the companies have
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The companies do not undertake to update
any forward-looking statements that are incorporated by reference herein, except
in accordance with applicable securities laws.

AUQ Gold Mining (TSXV:AUQ)
Historical Stock Chart
From Apr 2024 to May 2024

AUQ Gold Mining (TSXV:AUQ)
Historical Stock Chart
From May 2023 to May 2024