2) Oxide Cu Program

Augusta has also embarked on a study of the potential for a leachable oxide copper deposit in the upper part of the Rosemont deposit. This study is prompted by existing drill-core assays for acid- leachable copper, and the observation of locally abundant malachite, chrysocolla and similar copper minerals in old core from three main rock types that overlay the sulphide deposit: andesite, arkosic sediments and quartz monzonite intrusive. The amenability to acid-leach extraction of copper from of all three of these rock types is currently being tested in column-leach tests at Mountain States R&D International in Tucson, Arizona. The upcoming drilling campaign, in conjunction with a recently started program of re-assaying the old core for oxide- copper material, will further define the limits and grade of potentially leachable oxide copper in the upper part of the Rosemont deposit.

3) Silver and Gold Mineralization

The Rosemont deposit contains significant, but still incompletely quantified, amounts of silver and gold.

Anaconda and Anamax only partially assayed core for silver and gold, so Augusta has embarked on a program of assaying old core that will permit inclusion of gold and silver grades in future resource calculations.

4) Geotechnical Studies

Augusta has contracted Call & Nicholas, Inc. of Tucson, Arizona, to carry out the geotechnical studies necessary to determine pit slopes and other parameters necessary for pit designs. Drilling for subsurface geotechnical data will be carried out in the current program under the technical supervision of Call & Nicholas.

5) Broadtop Butte Exploration

Broadtop Butte carries a Historical Resource, estimated by Anamax in 1979, of 8,800,000 tons averaging 0.77% Cu and 0.04% Mo. Several holes in the current Augusta program will test for extensions of this historical resource. Success in this initial program would lead to more intensive exploration of this deposit. Augusta has not done the work necessary to verify the classification of the Broadtop Butte resource and is not treating the resource figure as a NI 43-101 defined resource verified by a Qualified Person at this time and therefore the resource figures, should not be relied upon by investors. However, given that this resource estimate outlines significant mineralization, it is considered relevant.

Qualified Person

This drill program will be conducted under the guidance and supervision of Mike Clarke, VP Exploration for Augusta Resource. Dr. Clarke, who is a designated Qualified Person, has a Ph.D. in Geology, over thirty years of international industry experience and the ability and authority to verify the data generated. Mr. Bill Rose of WLR Consulting, an independent Qualified Person, will update the Mineral Resources.

About the Company

Augusta is a mineral exploration and development company responsibly advancing copper and other base metal assets in the U.S. southwest. The Company’s Rosemont Property is located in Pima County, approximately 50 km southeast of Tucson, Arizona, and contains three known potentially open-pit copper/molybdenum (“Cu/Mo”) deposits. The Rosemont deposit contain 6.4 billion lbs of Cu equivalent (442,000,000 tons at 0.73% Cu equivalent) in measured and indicated resources and 1.9 billion lbs of Cu equivalent (145,000,000 tons at 0.67% Cu equivalent) in inferred resources. Please refer to the Company’s news release dated January 24, 2006 for further

details. Augusta has additional exploration properties in Nevada and New Mexico. The Company is traded on the Canadian TSX Venture Exchange under the symbol ARS.

For additional information please visit www.augustaresource.com or contact:

ON BEHALF OF THE BOARD OF DIRECTORS

“Gil Clausen”

_________________________

Gil Clausen

President and CEO

SPECIAL NOTICE REGARDING FORWARD-LOOKING STATEMENTS

Certain of the statements made and information contained herein and in the documents incorporated by reference may contain “forward-looking statements” including statements concerning the Company’s plans at its Rosemont Property, and other mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, metal recoveries, accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties with or interruptions in production, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors Relating to the Company’s Business in in the Annual Information Form and the management’s discussion and analysis. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Forward- looking statements include statements regarding the expectations and beliefs of management, the assumed long-term price of copper and exchange rates, the estimation of mineral reserves and resources, the realization of mineral reserve estimates in future expected production, anticipated future capital and operating costs, and the potential of the Company’s properties and expectations of growth. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.