Feb. 27, 2013
Augusta Resource Corporation (TSX/NYSE MKT: AZC
) ("Augusta" or "the Company") is saddened to announce the passing of its director,
John R. Brodie
Sunday, February 24, 2013
. The Company expresses its sincerest sympathies to his family.
"We would like to provide our heartfelt condolences at this time," said Richard Warke, Augusta's executive chairman. "John was a valuable member of the board and he provided indispensable guidance to the Company in financial reporting and corporate governance. He will be dearly missed."
Mr. Brodie joined the board of directors of Augusta in 2011 and was the chair of the audit committee and member of the corporate governance committee. He was a FCA who was formerly a partner at KPMG LLP, and was elected a fellow for distinguished service to the profession by the Institute of Chartered Accountants of
. He provided consulting services and served as a director for several public companies.
Augusta is currently evaluating candidates for consideration for the replacement of the directorship held by Mr. Brodie.
W. Durand Eppler
, a current director of the Company, will step in as interim chair of the audit committee.
Augusta is a base metals company focused on advancing the
Copper deposit near
hosts a large copper/molybdenum reserve that would account for about 10% of US copper output once in production (for details refer to
). The exceptional experience and strength of Augusta's management team, combined with the developed infrastructure and robust economics of the
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 be achieved.