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Abstract

Augustine Gold and Copper Limited (TSX:SAU) ("St. Augustine" or the "Company") and Nationwide Development Corporation ("Nadecor") announced that they have reached a major milestone with the handover by St. Augustine to Nadecor of the Benguet Settlement Documents, which finalized the settlement with Benguet Mining Corporation ("Benguet") for sale of its operating rights in the King-king Copper-Gold Project in Pantukan, Compostela Valley Province in the Philippines.

"We are very pleased to have reached this watershed event in the project and our partnership," said Andrew J. Russell, President of St. Augustine. "With this turnover, we begin the joint venture phase of development and cooperation between Nadecor and St. Augustine, which will directly benefit thousands of Filipinos and be a big boost to the Philippine economy."

This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact included herein are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainties relating to the completion of a bankable feasibility study; uncertainty of estimates of capital and operating costs, recovery rates production estimates and estimated economic return; the need for cooperation of the Company's joint venture partner and government agencies in the development of the Company's mineral projects; the need to obtain additional financing to develop the Company's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the Annual Information Form dated March 22, 2013, and filed with Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.

Details

Title
St. Augustine and Nadecor Achieve Milestone with Transfer of Benguet Settlement Documents
Publication year
2013
Publication date
Sep 3, 2013
Publisher
Intrado Digital Media Canada Inc.
Source type
Trade Journal
Language of publication
English
ProQuest document ID
1429544001
Copyright
Copyright Marketwire L.P. Sep 3, 2013