VANCOUVER, BC, September 11, 2008 -
Augusta Resource Corporation (TSX/AMEX: AZC) (“Augusta” or the
“Company”) is pleased to announce the appointment of Tim C. Baker to its
Board of Directors, effective immediately.
Mr. Baker brings over 30 years of
extensive project development and operations experience to the Company’s
Board. Mr. Baker is currently the Executive Vice President and the
Chief Operating Officer of Kinross Gold Corporation. Prior to joining
Kinross in 2006 he had an outstanding career with Placer Dome, where he
served in several key roles including Executive General Manager of
Placer Dome Chile, and Senior Vice President of the copper producing.
Compania Minera Zaldivar
President and CEO Gil Clausen said, “The
strength of Augusta lies in our quality Rosemont asset and our ability
to generate real value for our shareholders through its solid
development strategy. Experienced and competent professionals at all
levels of the Company are responsible for this success. We are extremely
pleased to welcome Tim Baker to the Augusta Board and value the
insight, experience and expertise he brings to the table.”
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 large copper/molybdenum reserve that may
account for about 10% of US copper output once in production in 2011
(refer to Augusta’s website for further details). 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
“Richard W. Warke”
Richard W. Warke
Chairman
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.