Toronto, Ontario - February 14, 2011 - HudBay Minerals Inc.
("HudBay") (TSX/NYSE: HBM) today announced that it has acquired
6,667,000 common shares ("Common Shares") of VMS Ventures Inc. ("VMS
Ventures") at a purchase price of C$0.50 per Common Share for total
consideration of C$3,333,500. The Common Shares were acquired in a
private transaction pursuant to an exemption from the prospectus and
registration requirements of applicable securities laws. The Common
Shares were acquired for investment purposes.
HudBay currently owns and has control over 17,585,000 Common Shares,
representing approximately 14.3% of the issued and outstanding Common
Shares.
HudBay Minerals Inc.
HudBay Minerals Inc. (TSX/NYSE: 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 with its
corporate offices at 1 Adelaide Street East, suite 2501, Toronto,
Ontario. 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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
(HBM-G)
For further information, please contact:
HudBay Minerals Inc.
John Vincic
Vice President, Investor Relations and Corporate Communications
(416) 362 0615
Email: john.vincic@hudbayminerals.com