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Hudbay Repurchases Additional US$57.2 Million of Senior Secured Notes

May 29, 2006

WINNIPEG, MANITOBA--(CCNMatthews - May 29, 2006) - HudBay Minerals Inc. (TSX:HBM) (HudBay) announces that its subsidiary, Hudson Bay Mining and Smelting Co., Limited (HBMS), has repurchased, through the open market, an additional US$57.188 million of its 9 5/8% senior secured notes due January 5, 2012.

Note repurchases now total approximately US$107 million, leaving a balance of approximately US$68 million of the senior secured notes outstanding.

"We have now repurchased a significant amount of our notes," said Jeff Swinoga, Vice-President and Chief Financial Officer of HudBay.

About HudBay Minerals Inc.

HudBay Minerals Inc. is an integrated mining and metals 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 Minerals Inc.
Don Bain
Director, Investor Relations
(204) 949-4272
(204) 942-8177 (FAX)

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