Augusta Announces $32.5 Million Share Offering

Vancouver, B.C., February 23, 2010 - Augusta Resource Corporation (TSX/NYSE Amex: AZC)

("Augusta" or the "Company") is pleased to announce that it has entered into an agreement with certain joint lead managers and joint bookrunners, which will include a syndicate of underwriters (collectively, the "Underwriters"), for the issuance of 11,820,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of Cdn$2.75 per Share for gross proceeds of Cdn$32,505,000.

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