June 1, 2011
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
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
and in-line with previous USFS guidance allowing for a 90 day public comment period after the publication of the draft EIS in
"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."
Augusta is a base metals company focused on advancing the Rosemont Copper deposit near
. 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
). 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.
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.