CLEVELAND, May 11, 2006 (PRIMEZONE) -- AuGRID Corporation (Pink Sheets:AUGC) announces that it has relocated its headquarters office to New Jersey to better collaborate with their joint venture partner Windham Resources, Inc. Augrid's agreement with Windham Resources, Inc. ("Windham") is to acquire interests in Windham's mineral properties located in the State of Nevada. Windham owns the rights to the Hill of Gold lode mining claims, located in the Tonopah, Nevada Mining District and the New Era Mine located near Searchlight, Nevada, and also participates as a joint venture partner in a project with proven ore reserves located in San Bernardino County, California.
"As we continue our restructuring and focus on development and growth, this move will ultimately bring better performance and results with the two organizations being able to work closer together," said MJ Shaheed, President of Augrid Corporation. "As previously stated, gold is maintaining it's performance level and we believe the trends are likely to continue. These interests should prove to be an exciting foundation by which Augrid can make the most of the opportunities in the mineral resources industry and form a foundation for its share holder base."
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise