WINNIPEG, MANITOBA--(CCNMatthews - Sept. 23, 2005) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) wishes to issue the following clarification in
connection with an early warning press release issued yesterday by a
security holder of the Company.
On September 22, 2005 RAB Special Situations (Master) Fund Limited
(RAB Special Situations) announced, among other things, that it had
acquired 25 million warrants of HudBay through the facilities of the
Toronto Stock Exchange.
RAB Special Situations reported that following the transaction (and
the sale of certain common shares of HudBay) it held 52,711,666 warrants
of HudBay, which would represent approximately 40.25% of the issued and
outstanding common shares of HudBay on a partially diluted basis.
HudBay wishes to clarify that its warrants were previously issued on
a pre-consolidated basis and such warrants are subject to a one for 30
consolidation adjustment. Accordingly, 52,711,666 warrants of HudBay
would represent approximately 2% of the issued and outstanding common
shares of HudBay on a partially diluted basis. HudBay currently has
84,003,662 common shares outstanding.
FOR FURTHER INFORMATION PLEASE CONTACT:
HudBay Minerals Inc.
Tom Goodman
Vice President, Human Resources and Technical Services
(204) 687-2380
(204) 942-8177 (FAX)
tom.goodman@hbms.ca
www.hudbayminerals.com