Mr. Peter Kukielski reports

HUDBAY COMPLETES ROCKCLIFF ACQUISITION; FURTHER CONSOLIDATES SNOW LAKE OPERATIONS AND ADDS TO PROSPECTIVE LAND PACKAGE

Hudbay Minerals Inc. has completed its acquisition of Rockcliff Metals Corp. Hudbay acquired all of the issued and outstanding common shares of Rockcliff that it did not already own pursuant to a court-approved plan of arrangement, effective as of today's date. As a result of closing the transaction, Rockcliff is now a wholly owned subsidiary of Hudbay and, in accordance with the terms of the transaction, former Rockcliff shareholders have been issued 0.006776 of a Hudbay common share for each Rockcliff share previously held.

Prior to the transaction, Rockcliff was the 49-per-cent joint venture partner on Hudbay's Talbot project. Rockcliff also owns a 100-per-cent interest in six additional deposits in the Snow Lake region and is one of the largest landholders in the Snow Lake area, with approximately 1,800 square kilometres across all its properties.

Peter Kukielski, Hudbay's president and chief executive officer, commented, "We are very excited about the completion of this logical transaction and the potential for Rockcliff's deposits to extend the mine life and add further optionality to our operations in the Snow Lake region."

About Hudbay Minerals Inc.

Hudbay is a copper-focused mining company with three long-life operations and a world-class pipeline of copper growth projects in Tier 1 mining-friendly jurisdictions of Canada, Peru and the United States.

Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by meaningful gold production. Hudbay's growth pipeline includes the Copper World project in Arizona, the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru), and several expansion and exploration opportunities near its existing operations.

The value Hudbay creates and the impact it has are embodied in its purpose statement: "We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities." Hudbay's mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.

We seek Safe Harbor.