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U.S. Forest Service delivers Rosemont Preliminary Draft EIS to State and Local Agencies

June 1, 2011

DENVER, CO, June 1, 2011 /PRNewswire/ – Augusta Resource Corporation (TSX/NYSE Amex: AZC) (“Augusta” or the “Company”) announces that printed and electronic
copies of the preliminary draft Environment Impact Statement (“EIS”)
have been delivered by the Coronado National Forest to the State of
Arizona and local Cooperating Agencies for final review.  The
Cooperating Agencies have been mandated with 30 days to provide their
final comments on the draft EIS as part of the federal government
National Environmental Policy Act (“NEPA”) process. This is in line
with the U.S. Forest Service’s (“USFS”) previously announced schedule
guidance of August 2011 for the draft EIS to be available for public
comment under NEPA regulations.

The Record of Decision (“ROD”) for the Rosemont Copper project appears
on track for January 2012 and in-line with previous USFS guidance
allowing for a 90 day public comment period after the publication of
the draft EIS in August 2011.

“With the preliminary draft EIS now delivered to the cooperating
agencies we are one major step closer to the ROD,” said Gil Clausen,
Augusta’s president and CEO. “We are pleased with the progress the USFS
has been able to attain in the past several months and expect that they
will be able to meet their objective for releasing the draft EIS to the
public this August.” 

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.

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.

SOURCE Augusta Resource Corporation


Source: newswire



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