Augusta Resource Corporation

Augusta Resource Corporation

December 19, 2007 12:55 ET

Augusta Signs Agreement For Rosemont's Long-Lead Equipment

TUCSON, ARIZONA--(Marketwire - Dec. 19, 2007) - Augusta Resource Corporation (TSX:AZC)(AMEX:AZC)(FRANKFURT:A5R) ("Augusta" or the "Company") is pleased to announce that it has signed an agreement valued at approximately US $ 29 million with Polysius Corp. for the purchase and delivery of a 36ft x 17.5ft EGL (effective grinding length) SAG and two 26ft x 40ft EGL ball mills needed for the construction of the Rosemont Copper mine in Tucson, Arizona. The Company was successful in negotiating improved financing and delivery terms from those estimated in the bankable feasibility study published in August 2007. The Company is pleased to complete this critical path milestone with an overall positive impact on the project schedule.

Polysius Corp. is a ThyssenKrupp Technologies Company located in Atlanta, Georgia. Mr. Edward Wipf, Manager of Minerals, said, "We are very pleased to be working with Augusta Resource Corporation in supplying the mills for the Rosemont Copper Project. The project location in Arizona is ideal to demonstrate our grinding technology in North America."

ABOUT AUGUSTA RESOURCE CORPORATION - Augusta is a mineral exploration and development company responsibly advancing the Rosemont Copper project in Southern Arizona. The Company's Rosemont property is located in Pima County, approximately 50 kilometers southeast of Tucson, Arizona, and contains a potentially world class open-pit Cu-Mo-Ag deposit. With a strong ownership profile, solid project economics and proven management team, Augusta is committed to becoming a mid-tier copper producer within the next four years. The company is traded on the American Stock Exchange and the Toronto Stock Exchange under the symbol AZC, and on the Frankfurt Stock Exchange under the symbol A5R.


Gil Clausen, President and CEO


Certain of the statements made and information contained herein and in the documents incorporated by reference may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking statements or information within the meaning of the Securities Act (Ontario). Forward- looking statements or information include statements regarding the expectations and beliefs of management. 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 the Company's plans at its Rosemont Property and other mineral properties, the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal recoveries, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis, the effect of hedging activities, including margin limits and margin calls, regulatory restrictions, including environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors Relating to the Company's Business" in the Company's Annual Information Form dated March 1, 2007. 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. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, 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