TORONTO, ON--(Marketwired - November 08, 2016) - HudBay Minerals Inc.
("Hudbay" or the "company") (TSX: HBM) (NYSE: HBM) today
announced it has temporarily suspended operations at its Constancia mine in Peru as a result of trespassers in the open pit area.
The decision is necessary for the safety of employees and the people occupying the site.
Many of the trespassers are from the district of Chamaca, about an hour from the mine, which within the last two weeks signed
an agreement with national and local governments and Hudbay Peru confirming areas of social co-operation. The trespassers have
yet to present specific demands.
Police are present to ensure the safety of people and assets and Hudbay Peru is working with representatives of the national
and local governments, as well as other parties toward a goal of resolving the situation peacefully and safely.
Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian and United States securities legislation. Forward-looking information
includes information that relates to, among other things, our objectives, strategies, and intentions, including our expectations
that the situation will be resolved peacefully and safely. Forward-looking information is not, and cannot be, a guarantee of
future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and
analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject
to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially
different from those expressed or implied by the forward-looking information.
The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those
expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the
mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general
cost escalation), risks related to political or social unrest or change, risks in respect of aboriginal and community relations,
rights and title claims, operational risks and hazards, including unanticipated environmental, industrial and geological events
and developments and the inability to insure against all risks, dependence on key personnel and employee and union relations,
failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, planned infrastructure
improvements in Peru not being completed on schedule or as planned, compliance with government and environmental regulations,
including permitting requirements and anti-bribery legislation, depletion of Hudbay's reserves, volatile financial markets that
may affect Hudbay's ability to obtain additional financing on acceptable terms, the failure to obtain required approvals or
clearances from government authorities on a timely basis, uncertainties related to the geology, continuity, grade and
estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain costs of
reclamation activities, the company's ability to comply with its pension and other post-retirement obligations, Hudbay's ability
to abide by the covenants in its debt instruments and other material contracts, tax refunds, hedging transactions, as well as the
risks discussed under the heading "Risk Factors" in the company's most recent Annual Information Form.
Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove
incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly,
you should not place undue reliance on forward-looking information. Hudbay does not assume any obligation to update or revise any
forward-looking information after the date of this news release or to explain any material difference between subsequent actual
events and any forward-looking information, except as required by applicable law.
About Hudbay
Hudbay (TSX: HBM) (NYSE: HBM) is an integrated mining company
producing copper concentrate (containing copper, gold and silver) and zinc metal. With assets in North and South America, the
company is focused on the discovery, production and marketing of base and precious metals. Through its subsidiaries, Hudbay owns
four polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and
Cusco (Peru), and a copper project in Arizona (United States). The company is governed by the Canada Business Corporations
Act and its shares are listed under the symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de
Valores de Lima. Hudbay also has warrants listed under the symbol "HBM.WT" on the Toronto Stock Exchange and "HBM/WS" on the New
York Stock Exchange. Further information about Hudbay can be found on www.hudbayminerals.com.