Denver, CO, June 8, 2011 – Augusta Resource Corporation (TSX/NYSE Amex: AZC)
(“Augusta” or the “Company”) announces that at its Annual General
Meeting which was held this morning, the Company’s shareholders have
elected John R. Brodie to the Company’s Board of Directors. The Board of
Directors is now comprised of Timothy Baker, John Brodie, Donald Clark,
Gil Clausen, W. Durand (Randy) Eppler, Christopher Jennings, Robert
Wares and Richard Warke (Executive Chairman).
Mr. Brodie is a Fellow of Chartered
Accountants (FCA) and was formerly a partner at KPMG LLP. He was elected
a fellow for distinguished service to the profession by the Institute
of Chartered Accountants of British Columbia. He currently is the
President of John R. Brodie Capital and serves on the Board of several
public companies in the resource and manufacturing sector.
“John brings exceptional financial
oversight and governance experience to our Board,” said Richard Warke,
Chairman of the Board. “We are delighted at his appointment and believe
his expertise will contribute greatly to
Augusta.”
The Company also announces the
resignation of Michael A. Steeves from the Board of Directors. Mr.
Steeves has been a valued member of the Board since 1999. The Company
would like to thank him for his dedication over the last 12 years and
wishes him the best in his retirement.
About Augusta
Augusta is a base metals company focused
on advancing the Rosemont Copper deposit near Tucson, Arizona. Rosemont
hosts a large copper/molybdenum reserve that may account for about 10%
of US copper output once in production in 2013 (for details refer to www.augustaresource.com).
The exceptional experience and strength of Augusta’s management team,
combined with the developed infrastructure and robust economics of the
Rosemont project, will propel Augusta to
become a solid mid-tier copper producer. The Company is traded on the
Toronto Stock Exchange and the NYSE Amex under the symbol AZC.
Contact Information
Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com
CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION
Certain of the statements made and
information contained herein may contain forward-looking statements
within the meaning of the United States Private Securities Litigation
Reform Act of 1995 and forward-looking information within the meaning of
applicable Canadian securities laws. Such forward-looking statements
and forward-looking information include, but are not limited to
statements concerning: the Company’s plans at the Rosemont Project;
estimated production; and capital and operating and cash flow estimates.
Forward-looking statements or
information include statements regarding the expectations and beliefs of
management. Often, but not always, forward-looking statements and
forward-looking information can be identified by the use of words such
as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the
negatives thereof or variations of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved. 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: history of losses;
requirements for additional capital; dilution; loss of its material
properties; interest rates increase; global economy; no history of
production; speculative nature of exploration activities; periodic
interruptions to exploration, development and mining activities;
environmental hazards and liability; industrial accidents; failure of
processing and mining equipment; labour disputes; supply problems;
commodity price fluctuations; uncertainty of production and cost
estimates; the interpretation of drill results and the estimation of
mineral resources and reserves; legal and regulatory proceedings and
community actions; title matters; regulatory restrictions; permitting
and licensing; volatility of the market price of Common Shares;
insurance; competition; hedging activities; currency fluctuations; loss
of key employees; as well as those factors discussed in the section
entitled “Risk Factors” in the Company’s Annual Information Form dated March 29, 2011.
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 or
information. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information. The Company
disclaims any intent or obligation to update forward-looking statements
or information except as required by law, 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.