Augusta Resource Corporation (TSXV:ARS) (“Augusta
or the “Company”) yesterday submitted its formal Plan of Operations to
the United States Forest Service for the company’s 100% owned Rosemont
copper/molybdenum project in Pima County, Arizona, 30 miles southeast of
Tucson. The benchmark document signals the kickoff of the environmental
assessment (“EA”) and public review processes for the project.
“This is a significant step for us in
this very important venture,” said Jamie Sturgess, Vice-President of
Projects and Environment for the Company. “I encourage everyone who is
interested in this project to read the plan and get a full understanding
of the innovative, sustainable approach we have laid out for the
development of Rosemont. We welcome their informed, thoughtful
participation in the public review process,” he said.
The 48-page document – which details the
project’s description, operations, environmental protection measures,
community and social resources and reclamation plan – was submitted to
the Forest Service as part of the agency’s federal requirements, and
will be reviewed under the National Environmental Policy Act (“NEPA”).
Appointment
The Company is pleased to announce the
addition of Mrs. Marlo Hamer-Jackson as Manager, Investor Relations and
Corporate Communications to its management team. Mrs. Hamer-Jackson
brings extensive knowledge in communications and experience in the
resource industry. After working for five years in Corporate Relations
at Placer Dome Inc., she spent a short time managing corporate
communications at Goldcorp Inc. before joining the Augusta team. Mrs.
Hamer-Jackson will be responsible for managing investor communications,
enhancing investor awareness and providing publicly available
information regarding Augusta. Mrs. Hamer-Jackson holds a Bachelors of
Business Administration from Simon Fraser University and honours in the
Canadian Securities Course. Mrs. Hamer-Jackson will be compensated with a
salary of $80,000 per year and has been granted 50,000 stock options at
$1.78 per share.
ABOUT AUGUSTA RESOURCE CORPORATION – Augusta
Resource Corp. 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 30 miles southeast of Tucson, Arizona, and contains four
known potentially open- pit copper/molybdenum (“Cu/Mo”) deposits. The
Rosemont deposit contains 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. 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, labor 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 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.
The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this release. For
additional information, please contact the Company.