Augusta Resource Press Releases

Toronto Stock Exchange Consents to Augusta Shareholder Rights Plan

Wed, 01 May 2013 12:07:00 -0400

VANCOUVER, May 1, 2013 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") announced today that the Toronto Stock Exchange has consented to the adoption of Augusta's previously announced shareholder rights plan (the "Rights Plan"), subject to, among other things, shareholder ratification of the Rights Plan no later than six months from the date of adoption.

If the Rights Plan is not ratified by the shareholders within six months of the date of its adoption, the Rights Plan and any rights issued pursuant to it will terminate. If the Rights Plan is ratified, it will continue in effect until the third annual meeting of shareholders thereafter. A copy of the Rights Plan is available on SEDAR at www.sedar.com.

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 would account for about 10% of US copper output once in production (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, propels Augusta to becoming a solid mid-tier copper producer. The Company trades on the Toronto Stock Exchange and the NYSE MKT under the symbol AZC.

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: expectations surrounding, short term financing, future project financings or refinancing; the Company's plans at the Rosemont Project including timing for final permits and construction; 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 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 25, 2013. 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.

Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Resource Adopts Shareholder Rights Plan and Advance Notice Policy

Fri, 19 Apr 2013 08:25:00 -0400

VANCOUVER, April 19, 2013 /CNW/ - Augusta Resource Corporation (TSX: AZC) (NYSE MKT: AZC) ("Augusta" or "the Company") announced today that its board of Directors (the "Board") has adopted a shareholder rights plan (the "Rights Plan") and an advance notice policy.

Rights Plan

The Rights Plan is intended to ensure, to the extent possible, that all holders of common shares of the Company and the Board have adequate time to consider and evaluate any unsolicited take-over bid for the common shares of the Company, provide the Board with adequate time to identify, solicit, develop and negotiate value-enhancing alternatives, as considered appropriate, to any unsolicited take-over bid and encourage the fair treatment of the Company's shareholders in connection with any unsolicited take-over bid.

The Rights Plan became effective at 8:00 a.m. (Toronto time) today (the "Effective Time"), and one right will be issued in respect of each common share of the Company outstanding at 5:00 p.m. (Vancouver time) on April 30, 2013 and each common share issued thereafter. The rights will become exercisable if at any time following the Effective Time a person, together with its affiliates, associates and joint actors, acquires or announces an intention to acquire beneficial ownership of common shares which, when aggregated with its holdings, total 15% or more of the outstanding common shares of the Company (determined in the manner set out in the Rights Plan). Following the acquisition of 15% or more of the outstanding common shares, each right held by a person other than the acquiring person and its affiliates, associates and joint actors would, upon exercise, entitle the holder to purchase common shares at a substantial discount to the market price of the common shares at that time.

The Board has the discretion to defer the time at which the rights become exercisable and to waive the application of the Rights Plan.

The Rights Plan permits the acquisition of control of the Company through a "permitted bid", a "competing permitted bid" or a negotiated transaction. A permitted bid is one that, among other things, is made to all holders of common shares for all of their shares, is open for a minimum of 60 days and is subject to an irrevocable minimum tender condition of at least 50% of the common shares held by independent shareholders.

The Board is aware of the recent accumulation of common shares of the Company by HudBay Minerals Inc. ("HudBay Minerals"). To the best knowledge of the Board, HudBay Minerals currently beneficially owns approximately 15.03% of the outstanding common shares of the Company. Although that existing share ownership is grandfathered under the terms of the Rights Plan, any share acquisitions by HudBay Minerals following the Effective Time will be required to be completed in compliance with the provisions of the Rights Plan. The Company is not aware of any specific take-over bid for the Company that has been made or is contemplated, either by HudBay Minerals or any other party.

The Board considered a number of factors in adopting the Rights Plan and, in particular, its 15% triggering threshold. At this time of global market uncertainty, the Board believes that there is a much greater risk of a predatory acquisition timed to take advantage of share price weakness tied to fluctuations in the copper price. The Board believes that the Rights Plan's 15% triggering threshold will give the Board a substantially greater opportunity to run a value maximizing auction process in the event that the Company is put in play through a hostile take-over bid than would be the case if one or more shareholders held share positions approximating 20%.

Richard Warke , Executive Chairman of Augusta, commented, "Various members of our Board are highly experienced in public company change of control transactions. We understand the need to have a more level playing field if Augusta is put in play, especially in these difficult market conditions, ensuring that we have a real opportunity to run an auction and capture value for our shareholders. We are not aware of any pending hostile bid, but in our view it is incumbent on our Board to be prepared. We are not willing to allow a predatory buyer to take advantage of these market conditions to acquire our world class Rosemont copper project at less than fair value."

The Rights Plan will be submitted to the shareholders of the Company for ratification at a meeting to be held within the next six months of the date of adoption. If the Rights Plan is not ratified by the shareholders, the Rights Plan and any rights issued pursuant to it will terminate. If the Rights Plan is ratified, it will continue in effect until the third annual meeting of shareholders thereafter. The Rights Plan is subject to acceptance by the Toronto Stock Exchange. A copy of the Rights Plan will be available on SEDAR at www.sedar.com.

Advance Notice Policy

The Board has adopted an advance notice policy (the "Policy") in order to facilitate an orderly and efficient annual general or, where the need arises, special meeting, ensure that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees, and allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.

Among other things, the Policy fixes a deadline by which holders of record of common shares of Augusta must submit director nominations to the Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Secretary of the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Policy is effective and in full force and effect as of April 18, 2013. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the next annual meeting which is currently scheduled for June 20, 2013, and if the policy is not confirmed at the annual meeting by ordinary resolution of shareholders, the Policy will terminate and be of no further force and effect following the termination of the annual meeting. A copy of the Policy will be available on SEDAR at www.sedar.com.

Contact Information
Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Resource Files Year End 2012 Audited Financial Statements and MD&A

Wed, 27 Mar 2013 17:00:00 -0400

VANCOUVER, March 27, 2013 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") announces that its audited Consolidated Financial Statements for the years ended December 31, 2012 and 2011 are now available on the company's website at www.augustaresource.com. The Consolidated Financial Statements were filed on SEDAR (www.sedar.com) and with the SEC (www.sec.gov) as part of the Company's Annual Report on Form 40-F on March 25, 2013.

Shareholders can receive a hardcopy of the audited Consolidated Financial Statements free of charge by contacting Augusta Resource:

By Mail:	Augusta Resource Corporation
	Suite 600, 837 West Hastings Street
	Vancouver, BC V6C 3N6
	Canada
	Attention: Corporate Secretary

By Phone:	1 (604) 687-1717
By Email:	info@augustaresource.com

A hardcopy of the audited Consolidated Financial Statements will be mailed upon receipt of the request.

Pursuant to Section 610 of the NYSE MKT Company Guide, the Company notes that its audit report contains an "Emphasis of Matter" statement pointing to the existence of material uncertainties that may cast significant doubt about the Company's ability to continue as a going concern. The Company has included an identical statement in its Consolidated Condensed Interim Financial Statements and Management's Discussion and Analysis for the second quarter ended June 30, 2012 and the third quarter ended September 30, 2012, as well as in the Consolidated Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2012. The Company intends to keep this disclosure in place in all financial statements until the financing for the construction of its Rosemont project is complete.

This announcement does not represent any change or amendment to the Company's Consolidated Financial Statements or its Annual Report on Form 40-F for the fiscal year ended December 31, 2012.

Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Director John R. Brodie Passes Away

Wed, 27 Feb 2013 18:06:00 -0500

VANCOUVER, Feb. 27, 2013 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is saddened to announce the passing of its director, John R. Brodie , on Sunday, February 24, 2013. The Company expresses its sincerest sympathies to his family.

"We would like to provide our heartfelt condolences at this time," said Richard Warke , Augusta's executive chairman. "John was a valuable member of the board and he provided indispensable guidance to the Company in financial reporting and corporate governance. He will be dearly missed."

Mr. Brodie joined the board of directors of Augusta in 2011 and was the chair of the audit committee and member of the corporate governance committee. He was a FCA who was formerly a partner at KPMG LLP, and was elected a fellow for distinguished service to the profession by the Institute of Chartered Accountants of British Columbia. He provided consulting services and served as a director for several public companies.

Augusta is currently evaluating candidates for consideration for the replacement of the directorship held by Mr. Brodie. W. Durand Eppler , a current director of the Company, will step in as interim chair of the audit committee.

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: expectations surrounding, short term financing, future project financings or refinancing; the Company's plans at the Rosemont Project including timing for final permits and construction; 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 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 19, 2012. 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.

Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta's Rosemont Copper Project Receives Air Quality Permit

Thu, 31 Jan 2013 12:41:00 -0500

VANCOUVER, Jan. 31, 2013 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is pleased to announce that it has received the Air Quality Permit for its Rosemont Copper project from the Arizona Department of Environmental Quality ("ADEQ"). The Air Quality Permit stipulates the operating, monitoring and reporting parameters that Rosemont must comply with to meet all federal, state and local air quality requirements.

Rosemont has now received seven major permits required to commence construction. Only one major permit is remaining, the Clean Water Act Section 404 Permit from the US Army Corp of Engineers, which the Company expects to receive upon the issuance of the Record of Decision ("ROD") on the Plan of Operations from the U.S. Forest Service ("USFS").

Gil Clausen , Augusta's President and CEO said, "Having received one of the last permits remaining represents a major achievement for the Rosemont Copper project as we near the end of the permitting process and prepare for construction this year. This success demonstrates our commitment to set high standards for environmental protection by operating with enhanced emission controls that go beyond regulatory requirements. Further, we would like to commend the ADEQ for advancing the permitting process for the Air Quality Permit thoroughly, professionally and expeditiously."

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 19, 2012. 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

Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Resource Provides Rosemont Permitting Update

Fri, 16 Nov 2012 21:54:00 -0500

TORONTO, Nov. 16, 2012 /CNW/ - Augusta Resource Corporation (TSX: AZC) (NYSE: AZC) ("Augusta" or "the Company") announces a permitting update on its Rosemont Copper project following an information session held today by the U.S. Forest Service (USFS).

The USFS has indicated that the permitting process is approximately 90% complete and three major items need to be completed for the last milestone which is the issuance of the final Environmental Impact Statement (EIS) and Record of Decision (ROD). The three items include: the consultation with the U.S. Fish and Wildlife Service which is nearing completion; the consultation with tribes and the State Historic Preservation Office of which the draft Memorandum of Agreement is under review; and, an update of air quality models which will be submitted this month. With the issuance of the final Air Quality Permit by the Arizona Department of Environmental Quality (ADEQ), which is expected by the end of 2012, Rosemont will be deemed to be in compliance with the required federal and state air regulations.

Augusta has reviewed the work that still needs to be completed with the USFS, and expects that the process for the issuance of the final EIS and ROD can be concluded within 60 to 120 days.

In addition, the issuance of the Army Corps of Engineers (ACOE) section 404 permit is also required for the construction and operation of Rosemont. The 404 permit can be done concurrently or subsequently to the final EIS and ROD.

Gil Clausen , Augusta's President and CEO said, "The USFS has been working diligently and we are confident that as we are near completion, they will continue to manage the process closely so all permits required will be received in the first quarter of next year. We are also pleased to see the USFS referring to working towards the issuance of Rosemont's final EIS, thereby mitigating any belief that a supplemental report is required."

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 19, 2012. 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.

Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Resource Appoints Robert P. Pirooz to its Board of Directors

Mon, 12 Nov 2012 08:00:00 -0500

VANCOUVER, Nov. 12, 2012 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is pleased to announce that Robert P. Pirooz has joined its Board of Directors, effective November 9, 2012.

Mr. Pirooz has over twenty years of legal experience focused in the mining sector with a particular strength in strategic transactions. He is currently General Counsel and Director of Pan American Silver Corp. His previous experience includes being Group Vice President, General Counsel for the BCR Group of Companies and Corporate and Commercial Solicitor for several law firms. Mr. Pirooz was called to the British Columbia Bar in 1990 after obtaining a Juris Doctor degree from the University of British Columbia and studying commerce at Dalhousie University. Mr. Pirooz is also Chairman of Lumina Copper Corp. and Director and Secretary of Anfield Nickel Corp.

Richard Warke , Augusta's Executive Chairman, commented, "Robert's extensive legal background adds great value to our Board. His experience in mining and strategic transactions supplements the existing skills of our Directors. We believe his expertise will contribute considerably to Augusta as we advance the Rosemont Copper project into construction early next year and become one step closer to achieving our objective of becoming a solid mid-tier copper producer. On behalf of the Board of Directors, we welcome him to the team."

The Company also announces the resignation of Donald B. Clark from the Board of Directors; however, he will continue to have an advisory role to Augusta on a consultative basis. Mr. Clark has been a valued member of the Board since the inception of the Company. Augusta would like to thank him for his commitment to the Company and wishes him the best in his future endeavours.

The Board of Directors is now comprised of Timothy C. Baker , John R. Brodie , Gil Clausen (President & CEO), W. Durand Eppler , Christopher M. H. Jennings (Lead Director), Robert P. Pirooz , Robert P. Wares and Richard W. Warke (Executive Chairman).

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING 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 19, 2012. 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.

Contact Information
Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Closes Increased Red Kite Loan Facility

Fri, 05 Oct 2012 17:00:00 -0400

DENVER, CO, Oct. 5, 2012 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is pleased to announce the closing of the previously announced US$83,000,000 loan facility ("Expanded Loan") with RK Mine Finance Trust I ("Red Kite"). The Expanded Loan represents an increase of US$40,000,000 over the previous loan facility with Red Kite .

As previously announced, the terms for the Expanded Loan include interest payable at LIBOR plus 4.50% and a final maturity date of July 21, 2014. The 1,791,700 Red Kite share purchase warrants were split into two tranches, each with the new exercise price of US$3.85 per share. The expiry date for 1,374,951 warrants was extended to July 22, 2015 and the expiry date for the remaining 416,749 warrants is unchanged at April 22, 2014. Since not all of the warrants were extended, the origination fee on the additional loan amount of US$40,000,000 was increased from 2% to 2.2925%.

Rosemont Copper Company ("Rosemont"), a wholly owned subsidiary of Augusta, has also closed the amended Red Kite Copper Concentrates Sales Agreement ("Amended Offtake Agreement") under which Red Kite will purchase 20% of Rosemont's gross annual copper concentrate production until 1,500,000 tonnes has been delivered.

Concurrent with the closing of the Expanded Loan and Amended Offtake Agreement, the Copper Cathode Purchase and Sale Agreement between Rosemont and an affiliate of Red Kite and the US$10,000,000 working capital facility between Augusta and Red Kite were cancelled and deemed null, with no liability to any of the parties.

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 19, 2012. 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.

Augusta Resource Corporation
Letitia Cornacchia, Vice President,
Investor Relations and Corporate Communications
Tel: (416) 860 6310
Email: lcornacchia@augustaresource.com

Augusta Arranges US$40 million Increase to Red Kite Loan Facility and Extends Maturity Date

Tue, 14 Aug 2012 17:00:00 -0400

DENVER, CO, Aug. 14, 2012 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is pleased to announce that the Company and RK Mine Finance Trust I ("Red Kite") have signed a term sheet for a US$40,000,000 increase ("Additional Loan") to the existing US$43,000,000 Red Kite loan ("Existing Loan"), on terms substantially similar to the Existing Loan. The Additional Loan and the Existing Loan, together totalling US$83,000,000, are referred to as the Expanded Loan.

The terms for the Expanded Loan include interest payable at LIBOR plus 4.50% and an origination fee of 2% of the Additional Loan. The Expanded Loan is substantially similar to the Existing Loan except that the final maturity date has been extended by 15 months to July 21, 2014. In connection with Red Kite's granting of the Expanded Loan, Augusta will extend the expiry of the existing 1,791,700 share purchase warrants held by Red Kite from April 22, 2014 to July 22, 2015. Augusta and Red Kite have also agreed to change the exercise price of the warrants from C$3.90 per share to US$3.85 per share.

In addition, Rosemont Copper Company ("Rosemont"), a wholly owned subsidiary of Augusta, has executed a term sheet to amend the existing Red Kite Copper Concentrates Sales Agreement ("Amended Offtake Agreement"). Under the Amended Offtake Agreement, Red Kite will purchase 20% of gross annual production until 1,500,000 tonnes has been delivered. This compares to the existing offtake agreement under which Red Kite would purchase 16.125% of gross annual production with a cumulative limit of 483,750 tonnes.

Upon closing of the Expanded Loan and the Amended Offtake Agreement, the Copper Cathode Purchase and Sale Agreement between Rosemont and an affiliate of Red Kite and the US$10,000,000 working capital facility between Augusta and Red Kite will both be cancelled and deemed void.

Gil Clausen , Augusta's President and CEO comments, " Red Kite is a strong advocate of the Rosemont Copper Project and we appreciate their continued support. This Expanded Loan provides us with the funding needed to continue development of Rosemont through to the start of construction, expected in early 2013, and fits our financing objective of minimal equity dilution. Our entire focus can now be placed on finalizing the project debt financing and completing the permitting process."

Closing of the Expanded Loan agreement is subject to customary due diligence for these types of loan transactions, all regulatory approvals, final legal documentation, and Board approvals.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING 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 19, 2012. 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.

Augusta Receives Rosemont Draft Air Permit from ADEQ

Mon, 06 Aug 2012 08:00:00 -0400

DENVER, Aug. 6, 2012 /CNW/ - Augusta Resource Corporation (TSX/NYSE MKT: AZC) ("Augusta" or "the Company") is pleased to announce that the Arizona Department of Environmental Quality ("ADEQ") has asserted complete jurisdiction over Rosemont Copper's ("Rosemont") Air Quality Permit due to the confusion and uncertainty caused by the inappropriate denial of Rosemont's Air Quality Permit application by the Pima County Department of Environmental Quality. Rosemont has thereby received the draft Air Quality Permit from the ADEQ.

ADEQ's Air Quality Permit will ensure that Rosemont meets all federal, state and local requirements by operating with enhanced emissions controls at the mine site. The public comment period, which commences today, will be 60 days and will end on October 9, 2012. Soon after the conclusion of the public comment period, the final Air Quality Permit will be issued for Rosemont.

"We are happy to see the Air Quality Permit process continue to advance and have the ADEQ officially issue the draft permit," said Rod Pace , Augusta's Chief Operating Officer. "The ADEQ will give Rosemont regulatory certainty and specific timeframes that were lacking in the Pima County permitting process. The ADEQ has handled our application since the initial submission in November 2011 in a professional and consistent manner."

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