LOAN AGREEMENTLoan Agreement • July 17th, 2014 • Augusta Resource CORP • Gold and silver ores • Ontario
Contract Type FiledJuly 17th, 2014 Company Industry JurisdictionTHIS AGREEMENT (the “Agreement”) is made as of the 17th day of July, 2014. AMONG: AUGUSTA RESOURCE CORPORATION, as a borrower (hereinafter called “Augusta”) AND AUGUSTA RESOURCE (US) CORPORATION, as a borrower (hereinafter called “Augusta US”; and together with Augusta, the “Borrowers” and individually a “Borrower”) AND HUDBAY MINERALS INC., as the lender (hereinafter called the “Lender” or the “Offeror”)