Augusta Updates Rosemont Copper Project Update

DENVER, CO - Augusta Resource Corporation reported on the project schedule for its Rosemont Copper project.

The U.S. Forest Service ("USFS") is currently reviewing public input received during the comment period for Rosemont's Draft Environmental Impact Statement ("EIS"). Comments have been identified, coded and organized and nearly all responses have been developed. The USFS's response to these comments will be incorporated into future public disclosures for the project as required under the National Environmental Policy Act ("NEPA"). In addition, the development of detailed mitigation and monitoring plans, which will also be included in the Final EIS, is well underway. The USFS now expects the Record of Decision ("ROD") for Rosemont to be issued by the end of 2012.

Similarly, the responses to public comments and required mitigation elements for the Army Corps of Engineers 404 Clean Water Act Permit are also being developed. The Air Permit is being processed by the Arizona Department of Environmental Quality ("ADEQ"). The Company expects to receive the air permit this quarter.

The Company is also currently completing the final details for its updated feasibility study, in which it expects to announce results mid-July. The updated feasibility study will include finalized construction capital and operating costs, updated geologic model, mine plan and financial model.

"We continue to work closely with the USFS and are committed to finalizing the EIS process as expeditiously as possible," said Gil Clausen, President and CEO. "We are focused on moving Rosemont forward. Starting with our updated feasibility study results, we expect to deliver a sequence of positive catalysts this year, culminating with the financing and permitting of what is expected to be a state-of-the-art, first class mine."

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 in 2014.

The company's address is Suite 1040, 4500 Cherry Creek South Drive, Denver, CO 80246.