Mr. Allen Lone reports

AUGUSTA PROVIDES UPDATE

Augusta Industries Inc. is providing an update with respect to the non-disclosure agreement entered into between the corporation and Mitsubishi Heavy Industries America Inc., an affiliate company of Mitsubishi Heavy Industries Ltd. based in Japan. As disclosed in its press release of July 16, 2015, the corporation and Mitsubishi entered into the agreement in an attempt to better understand how the corporation and Mitsubishi can work together to support the efforts of Mitsubishi.

Subsequent to the execution of the agreement, the corporation and Mitsubishi have identified a specific application for the use of the corporation's technology. The corporation and Mitsubishi will commence on the development of a monitoring system to be deployed and used by Mitsubishi in their exclusive markets.

"We are excited to be working with Mitsubishi in the development of monitoring systems specific to their requirements," said Allen Lone, the corporation's president and chief executive officer. "Our relationship with Mitsubishi is evidence and positive proof that the corporation's technology continues to be accepted throughout the world."

We seek Safe Harbor.