On May 2, 2014 the British Columbia Securities Commission (the
BCSC) ruled in favour of Augusta Resource Corporation, permitting
Augusta's shareholder rights plan to remain in effect for an
additional 75 days. HudBay Minerals Inc., which commenced its any
and all offer for Augusta on February 10, 2014, had applied for an
order cease trading the Augusta rights plan. Just hours prior to
the conclusion of the hearing, Augusta shareholders overwhelmingly
approved retaining Augusta's rights plan, with holders of
73.78% of the outstanding shares voting in favour of the retention
of the rights plan, representing 94% of all votes cast by Augusta
shareholders other than HudBay. The BCSC ruled that the rights plan
would remain in place unless HudBay extended its offer to July 16,
2014 and commits to extend its offer for an additional 10 days if
shares are taken up by HudBay under its offer. If HudBay does
extend its offer to July 16, 2014 and amends its offer to include
an
