Augusta Resource Corporation (Augusta) is engaged in the acquisition, exploration and development of natural mineral resource properties. As of December 31, 2011, the Company�s only material property is the Rosemont copper property located in Pima County, Arizona (the Rosemont Property). The Rosemont Property consists of approximately 17,500 acres of patented and unpatented claims. The Rosemont Property is primarily a copper mining project with appreciable amounts of molybdenum and silver by-products. Rosemont is being developed by Augusta. The property consists of 132 patented lode claims consisting of about 1969 acres and a contiguous package of 949 unpatented lode mining claims consisting of more than 12,000 acres, which surround the core of patented claims. There are also 10 blocks of fee land associated with the property, consisting of a number of individual parcels that enclose an additional 911 acres (369 hectares).