CIBC World Markets Initiates Research Coverage on Augusta Resource Corporation

Augusta Resource Corporation is pleased to report that CIBC World Markets has initiated research coverage on the Company. Should you wish to obtain a copy of the report, you will need to contact the analyst firm directly at the contact details below:

Cliff Hale-Sanders, CFA
(416) 594-7284
Cliff.Hale-Sanders@cibc.ca

Terry K.H. Tsui, CFA
(416) 956-3287
Terry.Tsui@CIBC.ca

ABOUT AUGUSTA RESOURCE CORPORATION - Augusta Resource Corporation is a base metals company focused on advancing the Rosemont Copper deposit located near Tucson, Arizona. Rosemont currently hosts a 7.2 billion pound copper resource that will account for 10% of US copper output once in production in 2011. The deposit also contains 180 million pounds of molybdenum and 75 million ounces of silver. A bankable feasibility study was completed in August 2007. The exceptional experience and strength of our management team, combined with the developed infrastructure and robust economics of this project, will propel Augusta to become a solid mid-tier copper producer within the next three 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.

For additional information please visit www.augustaresource.com or contact:

Gil Clausen, President & CEO
Phone: 303-300-0134
Fax: 303-300-0135
gclausen@augustaresource.com

Marlo Hamer-Jackson, Investor Relations Manager
Phone: 604-638-2002
Fax: 604-687-1715
mhamer-jackson@augustaresource.com