AUV

Augyva Mining Resources Inc. (TSX VENTURE:AUV) ("Augyva") announced today that,
subject to the approval of the TSX Venture Exchange ("TSX-V"), it intends to
commence a normal course issuer bid (the "Bid") to repurchase from time to time
up to 5,286,076 of its common shares (the "Shares"), representing 10% of its
public float in respect of the Shares. Purchases will be made for cancellation
through the facilities of the TSX-V. 


As at January 30, 2012, there were 60,511,696 common shares of Augyva issued and
outstanding.


The Bid is intended to commence on Monday 6, February, 2012, and will terminate
Tuesday February 5, 2013. The price that Augyva will pay for any Shares
purchased will be paid in cash at the prevailing market price at the time of
such purchase. The Bid will be conducted through GMP Securities LP.


Augyva believes that its Shares have been trading in a price range that does not
adequately reflect the value of the Shares in relation to its future business
prospects and current assets. As a result, Augyva believes that the repurchase
and subsequent cancellation of its shares through the Bid will enhance
shareholder value and represents an attractive and accretive use of Augyva's
available funds. Peter Jones, Chairman and Interim CEO, said "Given Augyva's
strong cash position and ongoing earn-in by its partner at its Duncan Lake
property, Augyva's Directors believe a normal course issuer bid is a highly
attractive use of capital and is value enhancing without sacrificing its ability
to meet its intermediate term cash requirements at Duncan Lake". 


To the knowledge of Augyva, no director or senior officer, no person acting
jointly or in concert with Augyva and no person holding 10% or more of the
common shares of Augyva currently intends to sell Shares during the course of
the Bid. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any Shares, nor shall there be any sale of the
Shares in any state or other jurisdiction in which such offer, solicitation or
sale would be unlawful.


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 25,602.54 hectares. A National Instrument 43-101 compliant
technical report on the mineral resource was prepared by Met-Chem Canada Inc.
dated February 03, 2010. The Duncan Lake Iron Ore Property is subject to a joint
venture agreement between Augyva 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.

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