Qualified Person
These drill results have been prepared
under the guidance and supervision of Mike Clarke, VP Exploration for
Augusta Resource. Dr. Clarke, who is the 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 herein.
Letter of Award for Mill Drives
Augusta’s wholly owned subsidiary,
Rosemont Copper Company, has signed a Letter of Award for approximately
US$42 million with ABB Switzerland Ltd. (“ABB”) for the supply of three
gearless mill drives needed for the construction of the Rosemont Copper
mine near Tucson, Arizona. These drives will be installed on the
Polysius supplied mills ordered back in December 2007. ABB’s scope of
supply includes a 16 MW gearless mill drive system for a 36’ diameter SAG mill and two 16MW gearless mill drive systems for 26’ diameter ball mills.
Hanspeter Erb, Head of ABB Switzerland
Drives Applications, said, "Quality teamwork and customer service are
decisive when driving the heart of any mining operation. The ABB and
Polysius worldwide experience come together for this important Rosemont
investment in superior efficiency, reliability and output."
ABB ( www.abb.com )
is a leader in power and automation technologies that enable utility
and industry customers to improve their performance while lowering the
environmental impact. The ABB Group of companies operates in
approximately 100 countries and employs more than 110,000 people.
ABOUT AUGUSTA RESOURCE CORPORATION -
Augusta Resource Corporation is a base metals company focused on
advancing the Rosemont Copper deposit located near Tucson, Arizona.
Rosemont currently hosts a 7.2 billion pound copper resource that will
account for 10% of US copper output once in production in 2011. The
deposit contains an additional 180 million pounds of molybdenum and 75
million ounces of silver. A robust feasibility study was completed in
August 2007, and the Company is now working through the National
Environmental Policy Act permitting process. The exceptional experience
and strength of our management team, combined with the developed
infrastructure and robust economics of this project, will propel Augusta
to become a solid mid-tier copper producer within the next three years.
The company is traded on the American Stock Exchange and the Toronto
Stock Exchange under the symbol AZC, and on the Frankfurt Stock Exchange
under the symbol A5R.
For additional information please visit www.augustaresource.com or contact:
ON BEHALF OF THE BOARD OF DIRECTORS
“Gil Clausen”
______________________
Gil Clausen
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Certain of the statements made and
information contained herein and in the documents incorporated by
reference may contain forward-looking statements or information within
the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking statements or information within the meaning of the Securities Act (Ontario).
Forward- looking statements or information include statements regarding
the expectations and beliefs of management. Forward looking statements
or information include, but are not limited to, statements or
information with respect to known or 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 or information.
Forward-looking statements or information 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 or
information, including, without limitation, risks and uncertainties
relating to the Company’s plans at its Rosemont Property and other
mineral properties, 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 and operations, 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, the effect of hedging activities, including
margin limits and margin calls, regulatory restrictions, including
environmental regulatory restrictions and liability, the speculative
nature of mineral exploration, dilution, competition, loss of key
employees, and other risks and uncertainties, including those described
under “Risk Factors Relating to the Company’s Business” in the Company’s
Annual Information Form dated March 4, 2008. 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 or
information. We do not expect to update forward-looking statements or
information continually as conditions change, and you are referred to
the full discussion of the Company’s business contained in the Company’s
reports filed with the securities regulatory authorities in Canada and
the United States.