Augustine Announces $45,000 US Interim Private Placement Financing and Debt Conversion Agreements

Toronto, Ontario--(Newsfile Corp. - February 27, 2015) - Augustine Ventures Inc. (CSE: WAW) ("Augustine" or the "Company") is pleased to announce that it has closed on an offering of 1,000,000 units ("Units) at a price of $0.045 US per Unit for gross proceeds of $45,000 US.

The offering was completed pursuant to a private placement to raise up to $700,000 through a financing arrangement with IBK Capital Corp. ("IBK Capital"), under which IBK has agreed to conduct a best efforts private placement financing (for further information please see Augustine's news release dated December 12, 2014). This interim placement follows interim placements of February 9, 2015 (for further information please see Augustine's news release dated February 9, 2015).

Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holders thereof to acquire one common share in the capital of Augustine (a "Warrant Share") at an exercise price of CDN $0.05 or US $0.045 per Warrant Share at any time until close of business on February 25, 2019.

In addition, the Corporation issued an aggregate of 5,302,528 non flow through units ("Debt Units") in exchange for the cancellation of an aggregate of $265,126 CDN. In debt owed to several creditors. 5,062,528 of the Debt Units consisted of one common share and one common share purchase warrant (a "Debt Warrant"). Each Debt Warrant entitles the holders thereof to acquire one common share in the capital of Augustine (a "Debt Warrant Share") at an exercise price of CDN $0.05 per Debt Warrant Share at any time until close of business on February 25, 2019. 240,000 of the Debt Warrants has an exercise price of CDN $0.10 per Debt Warrant Share.

All securities issued pursuant to the offerings are subject to statutory four (4) month hold period expiring on June 26, 2015.

The proceeds from this financing will be used for exploration purposes at Augustine's Wawa Gold Project and for working capital purposes.

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 22.4 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.

^*The 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
Fax 1-(866)-288-3582
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.