DKR Saturn Management L.P.

March 03, 2005 16:08 ET

DKR Saturn Management L.P./HudBay Minerals Inc.-Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DKR SATURN MANAGEMENT L.P.

MARCH 3, 2005 - 16:08 ET

DKR Saturn Management L.P./HudBay Minerals
Inc.-Announcement

TORONTO, ONTARIO--(CCNMatthews - March 3, 2005) - DKR Saturn Management
L.P. ("DKR") announced that certain investment funds (the "Funds")
managed by DKR hold an aggregate of 8,549,332 common shares of HudBay
Minerals Inc. (the "Company") plus warrants convertible into 5,583,277.5
common shares, representing approximately 11.04% of the issued and
outstanding common shares of the Company, and 17.02% on a partially
diluted basis. The securities were acquired upon the automatic exchange
of subscription receipts issued by the Company in its recent public
offering, and through additional trades in the open market.

The securities were acquired for investment purposes only and not with
the purpose of influencing the control or direction of the Company. The
Funds may, subject to market conditions, make additional investments in
or dispositions of securities of the Company in the future.

DKR is located at 909 Third Avenue, Suite 2958, New York, New York 10022.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    DKR Saturn Management L.P.
    Katherine C. Kym
    (203) 324-8482