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Hudbay Announces Initial Mineral Resource Estimate at Copper World

  • Indicated mineral resources of 272 million tonnes at 0.36% copper and inferred mineral resources of 142 million tonnes at 0.36% copper
  • Includes near surface, higher grade indicated mineral resources of 96 million tonnes at 0.57% copper and inferred mineral resources of 31 million tonnes at 0.71% copper, with the potential to be mined earlier in the mine life
  • Resource estimate includes recent additional drilling at Copper World which has continued to define shallow high-grade mineralization and continuity between Peach-Elgin and North-South Limb, as well as between Bolsa and Rosemont
  • Resources comprise both oxide and sulphide mineralogy and are potentially amenable to heap leach and flotation processing methods, respectively
  • Preliminary economic assessment is progressing well and is on track for the first half of 2022

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) today announced a National Instrument 43-101 ("NI 43-101") initial mineral resource estimate for the recently discovered Copper World deposits located near the company's Rosemont copper project in Arizona. The 100% owned Copper World project is located in close proximity to the 100% owned Rosemont deposit, with mineralization closer to surface than Rosemont. The Copper World project consists of seven deposits extending over seven kilometres, including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb and North Limb.

"The initial resource for our Copper World project is larger and at a higher level of geological confidence than we expected at this stage due to the exploration team's success in discovering several quality deposits through an extensive drill program this year," said Peter Kukielski, President and Chief Executive Officer. "The indicated and inferred resources at Copper World include a significant higher-grade component located near surface, which has the potential to form part of an attractive, low-cost copper operation located predominantly on private land. The metallurgical testing and mineralogical studies on Copper World are well-advanced and we look forward to releasing a preliminary economic assessment in the first half of 2022."

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Hudbay Announces Senior Management Appointments

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) is pleased to announce the appointment of Andre Lauzon as its Senior Vice President and Chief Operating Officer, effective January 4, 2022. He replaces Cashel Meagher, Senior Vice President and Chief Operating Officer, who has provided notice that he will be leaving the company to pursue other interests. Mr. Lauzon, who is currently the Vice President of Hudbay's Arizona Business Unit, has been working closely with Mr. Meagher over the past several years on key growth projects in Manitoba and Arizona and his appointment ensures a seamless transition in accordance with the company's succession plan as Hudbay continues to pursue its growth objectives.

"Andre's appointment demonstrates the deep operational and technical bench strength at Hudbay. His promotion reflects both his readiness and his valued expertise and comes at an opportune time as our operations are embarking on a period of significant production and cash flow growth with the recent completion of our major brownfield investment programs. We look forward to having Andre play a key role in delivering our next stage of growth with our leading organic pipeline," said Peter Kukielski, President and Chief Executive Officer. "We are grateful for Cashel's contributions in various roles at Hudbay over the past 13 years, including his leadership in building our South America business, and we wish him well in his future endeavours. I look forward to continuing to work with our talented, effective and innovative operating and technical teams under Andre's leadership."

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Hudbay Announces Third Quarter 2021 Results

Hudbay Minerals Inc. ("Hudbay" or the "company") (TSX, NYSE:HBM) today released its third quarter 2021 financial results. All amounts are in U.S. dollars, unless otherwise noted.

Third Quarter Operating and Financial Results

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