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REPORT OF INDEPENDENT REGISTERED 
  PUBLIC ACCOUNTING FIRM

To the Shareholders of Augusta Resource Corporation

We have audited Augusta Resource Corporations [the
  Company] internal control over financial reporting as of December 31, 2010,
  based on criteria established in Internal ControlIntegrated Framework issued by
  the Committee of Sponsoring Organizations of the Treadway Commission [the COSO
  criteria]. The Companys management is responsible for maintaining effective
  internal control over financial reporting, and for its assessment of the
  effectiveness of internal control over financial reporting included in the
  accompanying Managements Assessment of Internal Control over Financial
  Reporting. Our responsibility is to express an opinion on the Companys
  internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the
  Public Company Accounting Oversight Board (United States). Those standards
  require that we plan and perform the audit to obtain reasonable assurance about
  whether effective internal control over financial reporting was maintained in
  all material respects. Our audit included obtaining an understanding of internal
  control over financial reporting, assessing the risk that a material weakness
  exists, testing and evaluating the design and operating effectiveness of
  internal control based on the assessed risk, and performing such other
  procedures as we considered necessary in the circumstances. We believe that our
  audit provides a reasonable basis for our opinion.

A companys internal control over financial reporting is a
  process designed to provide reasonable assurance regarding the reliability of
  financial reporting and the preparation of financial statements for external
  purposes in accordance with generally accepted accounting principles. A
  companys internal control over financial reporting includes those policies and
  procedures that [1] pertain to the maintenance of records that, in reasonable
  detail, accurately and fairly reflect the transactions and dispositions of the
  assets of the company; [2] provide reasonable assurance that transactions are
  recorded as necessary to permit preparation of financial statements in
  accordance with generally accepted accounting principles, and that receipts and
  expenditures of the company are being made only in accordance with
  authorizations of management and directors of the company; and [3] provide
  reasonable assurance regarding prevention or timely detection of unauthorized
  acquisition, use or disposition of the companys assets that could have a
  material effect on the financial statements.

Because of its inherent limitations, internal control over
  financial reporting may not prevent or detect misstatements. Also, projections
  of any evaluation of effectiveness to future periods are subject to the risk
  that controls may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate.

In our opinion, the Company maintained, in all material
  respects, effective internal control over financial reporting as of December 31,
  2010, based onthe COSO criteria.

We also have audited, in accordance with Canadian generally
  accepted auditing standards and the standards of the Public Company Accounting
  Oversight Board (United States), the consolidated balance sheets as at December
  31, 2010 and 2009 and the consolidated statements of operations, comprehensive
  loss, cash flows and shareholders equity for each of the years in the
  three-year period ended December 31, 2010 of the Company and our report dated
  March 29, 2011 expressed an unqualified opinion thereon.

|Vancouver, Canada, |                          
|------------------ | -------------------------
|March 29, 2011.    | Charted
      Accountants





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