WINNIPEG, MANITOBA--(CCNMatthews - April 7, 2006) - HudBay Minerals
Inc (TSX:HBM) (HudBay) announces that, through its wholly-owned
subsidiary Pan American Resources Corp. (Pan American), it has executed
the definitive purchase and sale agreement with Acadian Gold Corporation
(Acadian) to sell 100% of the outstanding shares of ScoZinc Limited
(ScoZinc) for C$7.5 million.
HudBay announced on December 16, 2005 that it had entered into a
letter of intent to sell the Gays River lead and zinc mineral property
to Acadian. The Gays River mineral property is held by ScoZinc.
The sale of ScoZinc is scheduled to close on July 6, 2006, or such
earlier date as the parties may agree. The completion of the sale is
subject to usual closing conditions, including obtaining all necessary
regulatory and stock exchange approvals, and the purchaser completing
satisfactory financing arrangements.
About HudBay Minerals Inc.
HudBay Minerals Inc. is an integrated mining and metal producing
company that operates mines and concentrators in northern Manitoba and a
metal production complex in Flin Flon, Manitoba. The company also owns a
zinc oxide production facility in Brampton, Ontario, a copper refinery
in Michigan and the Balmat zinc mine in New York State, which is being
reopened.
Forward Looking Statements
Certain information regarding HudBay set forth in this document,
including management's assessment of HudBay's future plans and
operations contains forward looking statements that involve substantial
known and unknown risks and uncertainties. These forward looking
statements are subject to numerous risks and uncertainties, some of
which are beyond HudBay's and management's control, including but not
limited to, the impact of general economic conditions, industry
conditions, fluctuation of commodity prices, financing and acquisition
risks, related to the integration of acquisitions, fluctuation of
foreign exchange rates, imperfection of mineral reserve and mineral
resource estimates, commodity prices, risks associated with exploration,
development and mining, environmental risks, industry competition,
availability of qualified personnel and management, timely and cost
effective access to sufficient capital from internal and external
sources as well as the ability of contracted companies to raise funding
or to perform services. HudBay's actual results, performance or
achievement could differ materially from those expressed in or implied
by, these forward looking statements and, accordingly, no assurance can
be given that any of the events anticipated to occur or transpire from
the forward looking statements will provide any benefits to HudBay.
FOR FURTHER INFORMATION PLEASE CONTACT:
HudBay Minerals Inc.
Don Bain
Director, Investor Relations
(204) 949-4272
(204) 942-8177 (FAX)
don.bain@hbms.ca
www.hudbayminerals.com