Augustine Announces Red Pine's Winter Drilling on the Wawa Gold Project

Toronto, Ontario--(Newsfile Corp. - February 27, 2015) - Augustine Ventures Inc. (CSE: WAW) ("Augustine") recently entered into an assignment and assumption agreement with Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine") and Citabar Limited Partnership ("Citabar") effective December 11, 2014 (the "Assumption Agreement") pursuant to which the parties agreed to amend the Surluga Property Option Agreement ("Option Agreement") to earn in an interest in the Wawa Gold Project. (see news release of December 11, 2014).

Red Pine announced in a news release of February 27, 2015 that it continues drilling on the Wawa Gold Project (which includes the Surluga Gold Deposit) and reports some results of its exploration program. The pertinent information contained the news release from Red Pine is copied be elow (in italics):

Red Pine Exploration Inc. (TSX-V: RPX) (the "Company" or "Red Pine") has now completed 2 exploration drill holes (SD-15-07 & SD-15-08) as part of its Winter 2015 program which is planned for 8 to 15 drill holes totaling 2,000 to 4,000 metres ("m") on the Surluga Gold Deposit. The programs primary focus is to provide supporting results in order to both expand the grade and size of the resource and for infill drilling where there are gaps in the historic data which can then be used for the revised resource calculation. We have now also completed an airborne multi-component magnetic survey over the entire Wawa Gold Property.

Quartz veins and sericitized rocks have been intersected in both of the completed drill holes which is consistent with the gold bearing intersects encountered during the 2014 drill program. The intersections observed in these holes are as follows:

* True width has not been calculated for each individual intercept, but true width is generally estimated at 85%-95% of drilled width

SD-15-07 was designed to better define the ore shoot intersected in SD-14-06 based on the hypothesis that SD-14-06 intersected the outer margin of a high grade ore zone. SD-15-08 was designed to extend the gold mineralization intersected in SD-14-04 located approximately 66 m to the east.

Gold in the form of flakes which are visible with the naked eye (VG)** has been observed in both of these holes. All previous intersections with VG were associated with higher grade gold mineralization as follows:

Grams per tonne ("g/t")

* True width has not been calculated for each individual intercept, but true width is generally estimated at 75%-95% of drilled width

**Although VG is considered positive the Company cautions it has not received assay results for these intersections at the time of this press release.

Quentin Yarie, President and Chief Operating Officer commented, "We continue to intersect prospective gold bearing zones east of a North-South trending 1 ½ kilometre long structure that is easily distinguished in our magnetic data. To date gold mineralization projected to surface extends over 400m east of the North-South structure. The mineralization remains open in all directions, but it is the eastern extensions of the Surluga Gold Deposit we believe hold the greatest promise for increased size and gold tenor."

Overview of Completed Drill Holes

Please refer to Figures 1 and 2 for a pictorial presentation of the holes drilled to-date as this will provide readers with a bench mark for the location of these holes relative to the historic drill holes and also within the Surluga Gold Deposit. The deposit is primarily a North-South trending shear along a strike length of approximately 1 ½ kilometres.

A number of newly identified North-North-East trending structural controls have been identified. These have proved important as they appear to control zones of higher grade mineralization both in and above the shear. These structural events offer the opportunity to discover new zones of gold mineralization. The airborne survey will also provide valuable insights into identifying these events and will be utilized to assist in placing future drill holes.

The exact location of the drill holes is summarized in the table below. Starting from the most northern drill hole collar (SD-14-05) and heading south over a distance of 1-1/2 kilometers, the other drill hole collars are located approximately as follows:

SD-14-01&02 are 234 m South-West of SD 14-05
SD-14-03 is 455 m South-East of SD-14-01&02
SD-14-04 is 720 m South-East of SD-14-03
SD-15-08 is 112 m South-East of SD-14-04 and is a step-out hole from SD14-04
SD-15-07 is 1100 m South-West of SD-15-08
Sd-14-06 is 1255 m South-West of SD-15-07

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

Drill core 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. The remaining coarse reject portions of the samples remain in storage at the Activation Laboratories Ltd. in Ancaster, Ontario as required in the event that further work or verification is needed.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

Qualified Person

Quentin Yarie, P.Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release and is responsible for overseeing all aspects of the company's exploration programs.

Figure 1. Surluga Drill Collar locations over a Digital Terrain Model with the WGM Deposit Shell

To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/698/14240_enhancedx4x1.jpg

Figure 2. Surluga Drill Collar locations over an Airphoto with the WGM Deposit Shell

To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/698/14240_enhancedx5x1.jpg

Dr. Ed Walker, Senior Project Geologist for Augustine states: "It is exciting to see the exploration advancements that Red Pine has made in such a short period of time. The results further enhances our confidence in the gold mineral resource potential of the Wawa Gold Project."

Dr. Robert (Bob) Dodds, President and Chief Executive Officer of Augustine, states "Augustine is pleased with the exploration work that is being carried out by Red Pine in the development of the Wawa Gold Project. As we have stated previously, the metrics for the Wawa Gold Project are considered to be conducive to developing a major gold mine which will benefit the nearby town and First Nations Community as well as the Province"

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.

About Augustine Ventures Inc.

Augustine Ventures Inc. is a junior gold exploration company which has an option to earn up to a 75% interest on the Wawa Gold Project which encompasses 2,426 hectares in McMurray Township, southeast of the Town of Wawa, Ontario. Over 95 percent of the property consists of leases and/or patents for both mineral and surface rights that are easily accessible. The property has a gold resource of 1.1 million ounces at 1.5 g/t hosted within 22 million tonnes** with known lateral extension and depth extension to 600 meters, a history of past production from the known vein deposits and a large number of untested but documented gold occurrences. Augustine has also acquired a 100% undivided interest in an additional 182 claim units known as the Oakley Lake Property totalling 2,912 hectares contiguous to its Wawa Gold Project.

¹The Mineral Resource is disclosed in the NI 43-101 technical report titled "Amended Technical Review and Mineral Resource Estimate for the Jubilee-Surluga Property, near Wawa, Ontario, Canada for Augustine Ventures Inc." dated October 12, 2012 and prepared by Clifford J. Duke, P. Eng., Senior Associate Geological Engineer of Watts, Griffis and McOuat, Consulting Geologists and Engineers. The report is available on www.SEDAR.com under Augustine's profile.

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.