TORONTO, ONTARIO, Nov 3, 2009 (Marketwire via COMTEX News Network) --
HudBay Minerals Inc. ("HudBay", "the company") (TSX:HBM) today
announced that, following the exercise of warrants of Polar Star Mining
Corporation ("Polar Star"), it has acquired 1,004,366 common shares of
Polar Star, bringing its aggregate holding of common shares to
6,873,704, representing 11.52% of Polar Star's issued and outstanding
common shares as at June 30, 2009. In addition, HudBay holds warrants
exercisable for an additional 1,930,302 common shares which upon
exercise, together with the common shares presently owned by the
company, would represent 14.75% of Polar Star's issued and outstanding
common shares. The exercise price per warrant was $0.45 for an aggregate
exercise price of approximately CDN$450,000. The acquisition of the
common shares on the exercise of the warrants was made for investment
purposes.
HudBay Minerals Inc.: Strength to Build the Future
HudBay Minerals Inc. (TSX:HBM) is a Canadian integrated mining company
with assets in North and Central America principally focused on the
discovery, production and marketing of base metals. The company's
objective is to maximize shareholder value through efficient operations,
organic growth and accretive acquisitions, while maintaining its
financial strength. A member of the S&P/TSX Composite Index and the
S&P/TSX Global Mining Index, HudBay is committed to high standards
of corporate governance and sustainability.
www.hudbayminerals.com
(HBM-G)
SOURCE: HudBay Minerals Inc.
HudBay Minerals Inc.
John Vincic
Vice President, Investor Relations and
Corporate Communications
(416) 362 0615
john.vincic@hudbayminerals.com
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