Augustus Minerals Limited was incorporated on 29 November 2006 by the three founding directors for the primary purpose of investing in the resource sector through direct tenement acquisition, joint venture partnerships and new project generation.

The Company has been focused on identifying resources based projects for acquisition, with the view of generating value for Shareholders. Since incorporation, two projects have been identified and acquired, being:

Mt Palmer Project; and

Dostyk Project (19% interest)

Subsequent to this and as announced to the ASX on 16 October 2008, the company has entered into an agreement with Cigma Metals Corporation to dispose of its interest in the Dostyk Project for a total consideration of US$1,500,000.

Objectives

Objectives

The Company aims to define further mineralisation on the Mt Palmer Tenements and review potential new mineral based projects.

In the short to medium term, the Company intends to undertake the following steps to achieve this objective:

Ø      implement a detailed work program on the granted Mt Palmer tenement;

Ø      review exploration data obtained from previous holders of the Tenements; and

Ø      consider and evaluate potential new projects.