1 Represents production growth from 2012 production to 2015 anticipated production levels.
2 Includes production subject to streaming transactions. Silver converted to gold at a ratio of 50:1 for 2013 guidance. For 2012 production, silver converted to gold at 57:1, based on estimated 2012 realized sales prices.
3 2012 production based on actual levels as disclosed in Hudbay’s news release entitled, “Hudbay Announces 2013 Production Guidance and Capital and Exploration Forecasts”, dated January 9, 2013 and includes production from the closed Trout Lake and Chisel North mines and initial production from Lalor
4 2013 estimated production levels based on midpoint of 2013 forecasted production released on January 9, 2013.
5 777’s anticipated production for 2014 and 2015 is based on contained metal in concentrate as disclosed in “Technical Report 777 Mine, Flin Flon, Manitoba, Canada” dated October 15, 2012
6 Lalor’s anticipated production for 2014 and 2015 is based on contained metal in concentrate as disclosed in “Pre-Feasibility Study Technical Report, on the Lalor Deposit” dated March 29, 2012.
7 Constancia’s anticipated production for 2014 and 2015 is based on contained metal in concentrate as disclosed in, “The Constancia Project, National Instrument 43-101 Technical Report”, filed on November 6, 2012.
8 Reed’s anticipated production for 2014 and 2015 is based on contained metal in concentrate as disclosed in, “Pre-Feasibility Study Technical Report on the Reed Copper Deposit” dated April 2, 2012 and reflects 70% attributable production to Hudbay.