Augusta Resource Appoints Robert P. Pirooz to its Board of Directors
VANCOUVER, Nov. 12, 2012 /PRNewswire/ – 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).
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
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
SOURCE Augusta Resource Corporation