Toronto, Ontario - June 30, 2011 - HudBay Minerals Inc.
("HudBay", the "company") (TSX, NYSE: HBM) today announced that it has
acquired 13,500,000 Class A Shares (the "Shares") of MacDonald Mines
Exploration Ltd. ("MacDonald") (TSX.V:BMK) at a purchase price of C$0.13
per Share for total consideration of C$1,755,000. The Shares were
acquired on a private placement basis and are subject to customary
resale restrictions.
As a result of the investment, HudBay currently owns and has control
over 32,560,000 Shares (approximately 15.4% of the issued and
outstanding Shares) and 9,530,000 share purchase warrants which,
together with the Shares, represent approximately 19.1% of the issued
and outstanding Shares on a partially-diluted basis.
The acquisition of the Shares is being made to assist in the financing,
exploration and development of MacDonald's mineral properties.
HudBay Minerals Inc.
HudBay Minerals Inc. (TSX, NYSE: HBM) is a Canadian integrated mining
company with assets in North, Central and South 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.
Forward-Looking Information
Certain of the statements made and information contained herein may
contain forward-looking information within the meaning of applicable
Canadian securities laws. Forward-looking information is based on the
views, opinions, intentions and estimates of management at the date the
information is made, and is based on a number of assumptions and subject
to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
anticipated or projected in the forward-looking information (including
the actions of other parties who have agreed to do certain things and
the approval of certain regulatory bodies). Many of these assumptions
are based on factors and events that are not within the control of
HudBay and there is no assurance they will prove to be correct. There
can be no assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such information. HudBay undertakes no
obligation to update forward-looking information if circumstances or
management's estimates or opinions should change except as required by
applicable securities laws, or to comment on analyses, expectations or
statements made by third parties in respect of HudBay, its financial or
operating results or its securities. The reader is cautioned not to
place undue reliance on forward-looking information.
For further information, please contact:
John Vincic
Vice President, Investor Relations and Corporate Communications
(416) 362 0615
Email: john.vincic@hudbayminerals.com
HudBay Minerals Inc.
25 York Street, Suite 800
Toronto, ON, M5J 2V5