VMS VENTURES INC. VMSTF

Yeehaw!

[BFREE2]

Oct 28, 2010 15:27 ET

VMS Reports 6.69% Copper Over 71.69 Metres and 3.74% Copper Over 21.77 Metres from In-Fill Diamond Drillholes Three and Four at the Reed Lake Joint Venture Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2010) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce the latest drill and assay results from holes RDL003 and RDL004 of the in-fill drill program at the Reed Lake Deposit, near Snow Lake, Manitoba.

The program is the first phase of drilling at the Reed Lake project under a joint venture formed between VMS Ventures and HudBay Minerals Inc. (TSX:HBM) (NYSE:HBM) ("HudBay"). HudBay holds a 70% joint venture interest in the project and VMS holds 30%. The Reed Lake deposit is a base metal, massive sulphide-type deposit located approximately 100 kilometers from HudBay concentrator in Flin Flon, Manitoba, Canada. The program is proceeding on schedule with 14 holes now completed.

Assays have been received for holes RLD003 and RLD004 and are tabled below:

Hole Number	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	Zone
RLD003	111.20	140.00	28.80	0.88	7.18	1.58	3.07	30
	149.55	221.51	71.69	0.64	7.94	6.69	0.14	20
RLD004	164.77	171.20	6.43	0.54	4.89	0.80	4.46	30
	235.77	257.54	21.77	0.27	4.15	3.74	0.95	20
*True widths unknown*

Neil Richardson, VMS' Chief Operating Officer states "We are pleased to see the grades and thickness of the mineralization from these two recent holes at Reed Lake. The high-grade copper lens has significant thickness and down plunge potential that requires additional step out holes. We look forward to HudBay continuing their definition of the deposit in preparation for a National Instrument 43-101 mineral resource estimate, which HudBay has stated is targeted for early 2011."

Reed Lake Collar Information

Hole Number	UTM North (1)	UTM East (1)	UTM Elevation (1)	Azimuth (2)	Dip	Length (metres)
RLD003	6048913.7	393970.7	295.6	224	-70	380
RLD004	6048923.2	393972.2	295.5	225	-75	365
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North

On July 6, 2010 VMS and HudBay announced that they had entered into a joint venture agreement pursuant to which HudBay has a 70% interest and VMS has a 30% interest in the Reed Lake property and the two claims immediately to the south. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% joint venture interest in properties held by VMS adjacent to the Reed Lake property.