Augustine Ventures Inc. — Capital/Financing Update 2016

Dec 13, 2016

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Augustine Announces $500,000 Private Placement of Flow Through Financing

Decemb e r 13, 2016

Toronto, Ontario – A ugustine V e ntures Inc. ( CNSX: WA W ) (“Augustine” or the “Company”) is pleased t o announc e it has com p leted a no n -brokered p rivate plac e ment to rai s e $500,00 0 (the “Financi n g”) by way of issuing 5,000,000 flo w through units (“FT U n its”) at $0.100 per FT U n it, with eac h FT Unit consisting of o ne (1) com m on share o f Augustine issued on a “ flow-thro u gh ” basis pu r suant to th e Income Ta x Act (Cana d a) and one common share purchase warrant ( a “ Warrant”). One full Warrant allows the hol d er to acquire one non - flow-throu g h common s hare of Augustine (a “Wa r rant Share ” ) for a peri o d of three ( 3 ) years at a n exercise p rice of $0.1 3 0 per War r ant Share.

The proceeds from this financin g will be used for explor a tion purposes at Augu s tine’s Wa w a Gold Pro j ect.

The securities issue d pursuant t o this offeri n g are subje c t to a statu t ory four (4 ) month hol d period from the closing date(s) a nd to any a n d all neces s ary corpor a te and reg u latory approvals.

About Augustine Ventures Inc.

Augustine Ventures Inc. is a juni o r gold expl o ration co m pany head q uartered in Toronto, Ontario, Canada. Th e Company' s common s h ares trade on the CSE u nder the s y mbol “WA W

Augustine earned in a 30% inter e st in the W awa Gold P r oject and entered into a Joint Ven t ure Agreem e nt (“JVA”) w ith Citabar LLP and Re d Pine Explo r ation Inc. T h e Wawa G o ld Project i s now ow n ed by Citabar/Red Pine/Augustine in the ratio o f 40%, 30 % and 30%, r e spectively. The Joint Ve n ture continues to expl o re and adv a nce the cur r ent gold re s ource on t h e property.

Augusti n e and Red Pine have entered into a definitiv e agreemen t (Novemb e r 14, 2016 ) to consoli d ate their o w nership o f the Wawa G old Proje c t.

For additional information contact:

Augustin e Ventures In c . Robert (Bob) Dodds, President & C E O Tel: (416) 363 2528 x2 3 0 Email: bd o dds@augus t ineventures . com

This new s release ma y contain for w ard-looking statements. All statements, other tha n of historical fact, that addr e ss activities , events or d e velopments that the Co m pany believ e s, expects o r anticipates w ill or may occ u r in the future (including , without li m itation, stat e ments rega r ding the estimation of mineral resource s , exploratio n results, p o tential mineralization, potential mineral resources and mineral

130 K ing Street W e st, The Exc h ange Tower , Suite 720, P .O. Box 137, Toronto, On t ario M5X 1 A 6 Tel: ( 4 16) 363-252 8 Fax: 1 ( 866) 288-35 8 2

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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.

Augustine Ventures Inc. 130 King Street West, The Exchange Tower, Suite 720, P.O. Box 137, Toronto, Ontario M5X 1A6 Tel: (416) 363-2528 Fax: 1 (866) 288-3582