Mr. Allen Lone reports

AUGUSTA ANNOUNCES EXECUTION OF NON-DISCLOSURE WITH MITSUBISHI AND CLOSES NON-BROKERED PRIVATE PLACEMENT

Augusta Industries Inc.'s wholly owned subsidiary, Fox-Tek Canada Inc., has entered into a non-disclosure agreement with Mitsubishi Heavy Industries America Inc. (MHIA), an affiliate company of Mitsubishi Heavy Industries Ltd. based in Japan, supporting business activity in the United States. Further to the signing of the non-disclosure agreement, a team from MHIA (GR&D Boston and Houston offices) is scheduled to visit Fox-Tek's offices on July 28, 2015. These meetings will be a start to better understand how Fox-Tek and MHIA can work together to support MHIA. In particular, MHIA is interested in Fox-Tek's non-intrusive strain monitoring technologies to detect pipeline bending/buckling and to further service these pipelines.

Allen Lone, the corporation's president and chief executive officer, commented, "The agreement with MHIA clearly shows that the corporation's visibility is continuing to increase throughout the world and that its endeavours to forge partnerships with other companies that have a real need for the corporation's advanced technologies and services continues to be fruitful."

The corporation would also like to announce that it has completed its previously announced non-brokered private placement.

The corporation issued a total of 20.2 million units of the company at a price of five cents per unit for gross proceeds of $1.01-million. Each unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of seven cents at any time till July 14, 2018.

The securities issued pursuant to the private placement are subject to resale restrictions expiring Nov. 15, 2015. The corporation intends to use the proceeds for general working capital.

We seek Safe Harbor.