WINNIPEG, MANITOBA--(CCNMatthews - Oct. 20, 2006) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) announces that its wholly owned subsidiary,
Hudson Bay Exploration and Development Company Limited (HBED), and
Murgor Resources Inc. (TSX VENTURE:MUG) (Murgor), have signed the final
two agreements whereby joint ventures may be formed between the two
companies after Murgor completes certain exploration expenditures.
The
finalization of these two agreements follows the signing of four other
agreements between the two companies on September 12, 2006, all of which
were the subject of the previously announced July 18, 2006 Letter of
Intent between HBED and Murgor.
About HudBay Minerals Inc.
HudBay
Minerals Inc. is an integrated mining company that operates mines,
concentrators and a metal production complex in northern Manitoba and
Saskatchewan. The company also owns a zinc oxide production facility in
Ontario, the White Pine copper refinery in Michigan and the Balmat zinc
mine in New York state.
HudBay is a member of the S&P/TSX Composite Index.
Forward Looking Information
This
news release contains "forward-looking information", within the meaning
of applicable Canadian securities legislation, concerning the business
and operations of HudBay. Forward-looking information include, but are
not limited to, statements with respect to the completion of the sale by
HudBay to Murgor of certain properties and related matters.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level
of activity, performance or achievements of HudBay, to be materially
different from those expressed or implied by such forward-looking
statements, including risks associated with the agreements with Murgor
and Murgor's performance thereunder.
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