Augustine Ventures Announces Joint Venture is to Commence 6,000 Metre Drill Program

Toronto, Ontario--(Newsfile Corp. - November 16, 2016) - The Manager, Red Pine Exploration Inc. (TSXV: RPX) ("Red Pine" or the "Company"), of the Joint Venture with Augustine Ventures Inc. (CSE: WAW) (or "Augustine") and Citabar LLP, will immediately commence its Winter 2016 and 2017 Drill Program on the Wawa Gold Property. The diamond drill program is targeting the northern extension of the Surluga Deposit (inferred resource of 1,088,000 ounces @ 1.71 grams per tonne ("g/t") gold¹) to define additional gold mineralization and improve the current inferred resource. (see Figure 1).

Figure 1 — Locations of Planned Drill Holes

To view an enhanced version of Figure 1, please visit:
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The Summer 2016 trenching program confirmed the extension of the Jubilee Shear Zone to the north of the core zone of the inferred resource. This drill program will test the numerous gaps left by historic drilling in this part of the deposit. The Hornblende Shear Zone, the Surluga Road Shear Zone and the William Gold Zone, all located below the Surluga Deposit, will also be tested by some of the planned holes in the program.

The section in Figure 2 below helps illustrate the purpose of the program as outlined above.  

Figure 2 — Section Showing Planned Drill Holes

To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/698/23579_augustine1enhanced.jpg

Logging and sampling of historic core is still on-going.

Quentin Yarie, Red Pine's President and CEO states, "The exploration work to date has demonstrated the presence of additional gold zones in the footwall and hanging wall of the Surluga Deposit. We've also discovered that the mineralized structure hosting the Surluga Deposit extends to the north, where very few historic holes were drilled. The Joint Venture anticipates that this drill program will extend the inferred resource to the north while also testing other gold structures in the Wawa Gold Corridor."

Robert Dodds, President & CEO of Augustine, states, "The results of exploration work carried out by the joint venture have consistently improved the known gold resource and have identified more gold zones in the Wawa Gold Corridor. We are increasingly confident that our property can become attractive for development into a mine given its location in a safe political jurisdiction, support of the local community and First Nation and ready infrastructure."

Red Pine and Augustine have entered into a definitive agreement (November 14, 2016) to consolidate their ownership of the Wawa Gold Project.

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.

¹NI 43-101 inferred resource of 1,088,000 ounces of gold at 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent ((Independent Technical Report, Wawa Gold Project, Wawa, Ontario: Ronacher and McKenzie Geoscience and SRK Consulting (Canada) Inc (effective June 30, 2016)). The report is available on www.SEDAR.com under Augustine's profile.

About Augustine Ventures Inc.

Augustine Ventures Inc. is a junior gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the CSE under the symbol "WAW."

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.