BluMont Augen completes initial closing of flow-through offering

On February 28, 2008, BluMont Augen Limited Partnership 2008 (the "Partnership") announced that it had completed its initial closing of a public offering of units. The Partnership expects to invest approximately 85% of the available proceeds of the offering in flow-through shares of Canadian resource companies involved in mineral exploration and approximately 15% of the gross proceeds of the offering in flow-through shares of Canadian resource companies involved in oil and gas exploration. The Partnership expects investors to receive tax deductions equal to 100% of the amount invested for the 2008 taxation year. Also, investments in flow-through shares of resource companies involved in mineral exploration may qualify for investment tax credits. The Partnership intends to complete a second closing of its offering of units on or about March 27, 2008. BluMont Capital Corporation ("BluMont") is a wholly-owned subsidiary of Integrated Asset Management Corp. BluMont, as portfolio manager, will select flow-through shares and other investments on behalf of the Partnership in consultation with Augen Capital Corp. ("Augen"). Augen has been retained by the Partnership and the Portfolio Manager to provide its technical expertise and due diligence services in the resource sector to assist the Partnership and the Portfolio Manager with the review and selection of suitable investment opportunities in resource companies. The offering was made through a syndicate of investment dealers led by Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., and including Berkshire Securities Inc., Dundee Securities Corporation, TD Securities Inc., Blackmont Capital Inc., Queensbury Securities Inc., Canaccord Capital Corporation, Raymond James Ltd., Burgeonvest Securities Ltd., Desjardins Securities Inc., Industrial Alliance Securities Inc., Richardson Partners Financial Ltd., Sora Group Wealth Advisors Inc. and Wellington West Capital Inc. BluMont was advised in this offering by a team from Fasken Martineau led by Anil Aggarwal and including, among others, Jennifer Armstrong and Jeff Hergott (securities/investment funds); David Ferris (banking); and Mitchell Thaw (tax).