HudBay Minerals Inc.
TSX : HBM

HudBay Minerals Inc.

March 24, 2006 17:30 ET

HudBay Minerals Increases Exploration Lands

WINNIPEG, MANITOBA--(CCNMatthews - March 24, 2006) - HudBay Minerals Inc. (TSX:HBM) (HudBay) announced today that its subsidiary Hudson Bay Exploration and Development Company Limited (HBED) has increased its exploration land holdings in the Flin Flon Greenstone Belt in northern Manitoba.

HBED has acquired two mineral exploration licenses in northern Manitoba, south east of Snow Lake, increasing its exploration land holdings by approximately 94,000 hectares to a total of approximately 296,000 hectares. The increase relates to mineral deposit targets and covers several geophysical targets. The increase is not related to any new diamond drilling results or other information.

HudBay plans to continue spending $10 million each year through 2007, on exploration in the Flin Flon Greenstone Belt.

Peter Jones, President and CEO of HudBay, said, "increasing our holdings gives HudBay land security around mineral deposit targets and several geophysical targets in the area as well as adding almost 50% to our available exploration lands in the Greenstone belt."

About HudBay Minerals Inc.

HudBay Minerals Inc. is an integrated mining and metal producing company that operates mines and concentrators in northern Manitoba and a metal processing complex in Flin Flon, Manitoba. The company also owns a zinc oxide production facility in Brampton, Ontario, a copper refinery in Michigan and the former producing Balmat zinc mine in New York State, which is being reopened.

Forward Looking Statements

Certain information regarding HudBay set forth in this document, including management's assessment of HudBay's future plans and operations contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond HudBay's and management's control, including but not limited to, the impact of general economic conditions, the availability or advisement of spending exploration funds, industry conditions, fluctuation of commodity prices, risks related to the integration of acquisitions, fluctuation of foreign exchange rates, imperfection of mineral reserve and mineral resource estimates, estimates of land area held, seasonally variations and ease of access for exploration, availability of diamond drilling and electromagnetic equipment especially during periods of high demand in the mining industry, commodity prices, risks associated with exploration, development and mining, environmental risks, industry competition, availability of qualified personnel and management, timely and cost effective access to sufficient capital from internal and external sources. HudBay's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide any benefits to HudBay.

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