Rosemont Copper - Arizona's Next Major Copper Mine

Augusta Resource Corporation (TSX/NYSE Alternext: AZC) is a base metals company focused on advancing the Rosemont copper deposit near Tucson, Arizona. Rosemont currently hosts a 7.7 billion pound copper resource that will account for 10% of US copper output once in production in late 2011. Augusta is committed to becoming a solid mid-tier copper producer within the next four years.

March 2009

Rosemont Copper (100% ownership (1)) The Rosemont property is located in Pima County, Arizona approximately 50 kilometers southeast of Tucson. Rosemont's proven and probable mineral reserves contain 546 million tons of sulfide ore grading 0.45% copper, 0.015% molybdenum and 0.12 ounces per ton silver in sulfide ore, and an additional 70 million tons of oxide ore grading 0.17% copper. Proven and probable reserves total include 7.7 billion pounds of copper, 190 million pounds of molybdenum, and 80 million ounces of silver(2). Capital costs are estimated at $897 million, with low operating costs estimated at $0.62 per pound of copper, net of by-product credits2). Augusta is moving forward to advance permitting, secure long-lead time equipment, and finalize a project financing strategy. Cutoff Cu% Short Tons (M) %Cu %Mo Ag oz/t lbs Cu (M) lbs Mo (M) oz Ag (M) MEASURED & INDICATED MINERAL RESOURCES Oxides: 0.10 Mixed: 0.25 Sulfides: 0.20 103.4 36.9 524.0 0.20 0.53 0.50 - 0.005 0.015 - 0.05 0.13 417 389 5.190 - 3.9 159.5 - 1.9 66.6 INFERRED MINERAL RESOURCES Oxides: 0.10 Mixed: 0.25 Sulfides: 0.20 30.4 14.5 161.0 0.24 0.42 0.45 - 0.004 0.008 - 0.02 0.07 147 121 1.440 - 1.2 25.7 - 0.2 10.9 Right People. Right Place. Right Plan.

INVESTMENT HIGHLIGHTS Feasible Mining Project in USA Augusta's January 2009 updated bankable feasibility study estimates an NPV of $1.2 billion (5% discount after tax) based on a long-term price of $1.85 per pound copper, with a 17.8% internal rate of return and five year payback period. Once in production, Rosemont is expected to produce 221 million pounds of copper, 4.7 million pounds of molybdenum, and 2.4 million ounces of silver annually.(2) Strategically Positioned Arizona is home to several of the world's largest copper producers, offering stable mining laws and a clear regulatory regime. Rosemont is accessible via highway from east to west, and lies 10 to 15 kilometers from a major transmission line as well as the main rail lines connecting to major ocean ports. Experienced Management Team The Company has an accomplished and proven management team with extensive experience in operations, exploration and development. Strong Market Demand Demand for copper is expected to grow at a rate of more than 3.5% over the next few years, reaching over 18 million tonnes annually. As the world's population grows, and economic development continues, consumption of copper is expected to continually increase.   FINANCIAL HIGHLIGHTS Outstanding common shares: 88.7 M Outstanding stock options: 7.3 Management ownership (~ 18%): 15.6 M Market capitalization: ~C$100 M 52-week trading range: C$0.43 - $6.96

TIMELINE TO PRODUCTION

2008 ACCOMPLISHMENTS Completed Updated Feasibility Study Outlined 14% increase in reserves; 16% drop in strip ratio Settled ASARCO lawsuit Completed 35% of detailed engineering Procured long lead-time equipment Completed public hearings on plan of operations 2009 OBJECTIVES Finalize project financing structure Advance detailed engineering Secure major approvals required before construction Complete draft EIS ANALYST COVERAGE (3) Blackmont Capital - George Topping BMO Capital Markets - John Hayes CIBC World Markets - Cliff Hale-Sanders Cormark Securities - Justin Reid TD Newcrest - Craig Miller Wellington West - Steve Parsons (1) 100% ownership interest subject to 3% Net Smelter Royalty (2) See technical report dated January 15, 2009 filed on SEDAR. All figures are quoted after taxes and royalties. Long-term metal prices were established using the 24-month forward prices for the first year trending down to long term fixed prices of US$1.85/lb copper, US$15.00/lb moly, and US$12.00/oz silver and US$750.00/oz gold over the next four years. (3) These analyst firms have recently provided coverage on Augusta, and the opinions, estimates, or forecasts regarding Augusta�fs performance or its properties made by these analysts are theirs alone, and they do not represent opinions, forecasts or predictions of Augusta or its management. The Company does not endorse the views and conclusions of these firms or the reports issued by their analysts. Right People. Right Place. Right Plan.

Senior Management Gil Clausen, President and CEO Donald Clark, VP Administration Raghu Reddy, VP and CFO Lance Newman, VP Project Development Rod Pace, VP Operations Mark Stevens, VP Exploration Jamie Sturgess, VP Sustainable Development Tracey Brix-Neilsen, Treasurer and Controller Purni Parikh, Corporate Secretary Directors Richard W. Warke (Chairman) Gil Clausen Tim Baker Donald Clark W. Durand Eppler Chris Jennings Michael A. Steeves Robert Wares Head Office 400 - 837 West Hastings Street Vancouver, BC V6C 3N6 tel 604 687 1717 fax 604 687 1715 email info@augustaresource.com Denver Office 1040 - 4500 Cherry Creek South Drive Denver, CO 80246 tel 303 300 0134 fax 303 300 0135