Legal Notice

The websites and (each individually, and together, the “Website”) are owned and operated by HudBay Minerals Inc. Where we say "we", "us", "our", the "Company", or "Hudbay", we mean HudBay Minerals Inc. and/or one or more or all of its affiliates, as may be applicable. By using the Website, you agree to the following terms and conditions.

Website Protected by Copyright

Certain material found on the Website is protected by copyright. Certain names, graphics, logos, icons, designs, words, titles or phrases on the Website may constitute trade names, trademarks or service marks of Hudbay or other entities. Trademarks may be registered in Canada and in other countries, as applicable. The display of trademarks on pages at the Website does not imply that a licence of any kind has been granted.

Other materials on the Website not originally produced by us (some audio, video, trademarks, et al) are copyrighted by their respective creators/owners and appear here either by permission, example or as public domain reference material.

Currency of Website

Hudbay updates the information on the Website regularly. However, such information is not intended to be a comprehensive review of all matters and developments concerning Hudbay and Hudbay cannot guarantee the accuracy, currency or completeness of the information at all times and assumes no responsibility in this regard.

Cautionary Note Regarding Forward-Looking Information

The Website 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 on the Website is based on expectations, estimates and projections as of the date such information is presented on the Website or as of the date of the document posted on the Website, as applicable. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions). All of the forward-looking information on the Website is qualified by this cautionary note.

Forward-looking information includes, but is not limited to, production, cost and capital and exploration expenditure guidance, including anticipated capital and operating cost savings, anticipated production at our mines and processing facilities, events that may affect our operations and development projects, anticipated cash flows from operations and related liquidity requirements, the anticipated effect of external factors on revenue, such as commodity prices, estimation of mineral reserves and resources, mine life projections, reclamation costs, economic outlook, government regulation of mining operations, and business and acquisition strategies. 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 material factors or assumptions that we identified and were applied by us in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to:

  • the success of mining, processing, exploration and development activities;
  • the success of Hudbay’s cost reduction initiatives;
  • the accuracy of geological, mining and metallurgical estimates;
  • anticipated metals prices and the costs of production;
  • the supply and demand for metals we produce;
  • the supply and availability of concentrate for our processing facilities;
  • the supply and availability of third party processing facilities for our concentrate;
  • the supply and availability of all forms of energy and fuels at reasonable prices;
  • the availability of transportation services at reasonable prices;
  • ·no significant unanticipated operational or technical difficulties;
  • the execution of our business and growth strategies, including the success of our strategic investments and initiatives;
  • the availability of additional financing, if needed;
  • the ability to complete project targets on time and on budget and other events that may affect our ability to develop our projects;
  • the timing and receipt of various regulatory and governmental approvals;
  • the availability of personnel for our exploration, development and operational projects and ongoing employee relations;
  • the ability to secure required land rights to develop the Pampacancha deposit;
  • maintaining good relations with the communities in which we operate, including the communities surrounding our Constancia mine and Rosemont project and First Nations communities surrounding our Lalor and Reed mines;
  • ·no significant unanticipated challenges with stakeholders at our various projects;
  • ·no significant unanticipated events or changes relating to regulatory, environmental, health and safety matters;
  • ·no contests over title to our properties, including as a result of rights or claimed rights of aboriginal peoples;
  • the timing and possible outcome of pending litigation and no significant unanticipated litigation;
  • certain tax matters, including, but not limited to current tax laws and regulations and the refund of certain value added taxes from the Canadian and Peruvian governments; and
  • ·no significant and continuing adverse changes in general economic conditions or conditions in the financial markets (including commodity prices and foreign exchange rates).

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), uncertainties related to the development and operation of our projects (including risks associated with the economics and permitting of the Rosemont project and related legal challenges), risks related to the maturing nature of our 777 mine and its impact on the related Flin Flon metallurgical complex, dependence on key personnel and employee and union relations, 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, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, planned infrastructure improvements in Peru (including the expansion of the port in Matarani) not being completed on schedule or as planned, compliance with government and environmental regulations, including permitting requirements and anti-bribery legislation, depletion of our reserves, volatile financial markets that may affect our ability to obtain additional financing on acceptable terms, the permitting and development of the Rosemont project not occurring as planned, 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, our ability to comply with our pension and other post-retirement obligations, our ability to abide by the covenants in our debt instruments and other material contracts, tax refunds, hedging transactions, as well as the risks discussed under the heading “Risk Factors” in our most recent Annual Information Form, available under our profile at and

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. We do not assume any obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

Cautionary Note to US Investors

The information contained on the Website has been prepared in accordance with the requirements of the securities laws in effect in Canada, which may differ materially from the requirements of United States securities laws applicable to U.S. issuers.

Information concerning our mineral properties has been prepared in accordance with the requirements of Canadian securities laws, which differ in material respects from the requirements of the Securities and Exchange Commission (the “SEC”) set forth in Industry Guide 7. Under the SEC's Industry Guide 7, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time of the reserve determination, and the SEC does not recognize the reporting of mineral deposits which do not meet the SEC Industry Guide 7 definition of “Reserve”. In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) of the Canadian Securities Administrators, the terms “mineral reserve”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Definition Standards for Mineral Resources and Mineral Reserves adopted by the CIM Council on May 10, 2014. While the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are recognized and required by NI 43-101, the SEC does not recognize them. You are cautioned that, except for that portion of mineral resources classified as mineral reserves, mineral resources do not have demonstrated economic value. Inferred mineral resources have a high degree of uncertainty as to their existence and as to whether they can be economically or legally mined. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Therefore, you are cautioned not to assume that all or any part of an inferred mineral resource exists, that it can be economically or legally mined, or that it will ever be upgraded to a higher category. Likewise, you are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be upgraded into mineral reserves.

US investors are urged to consider closely the disclosure in our Form 40-F, which may be secured from us or from the SEC's website at

Exclusion of Liability

In using the Website, you agree that Hudbay shall not be liable for any claims, expenses, damages (including direct, indirect, incidental, special, punitive or consequential damages), loss of profits, opportunities or information arising from (a) your use of or reliance on information contained on the Website; (b) any inaccuracy or omission in such information or failure to keep the information current; (c) use of any third-party web sites linked or referred to on the Website; (d) any delays, inaccuracies or errors in, or in the transmission of, any stock price quotes or historical price data; (e) any Internet software used in connection with the Website or computer viruses or other destructive programs encountered as a result of using the Website; and (f) any other matter connected with the Website, even if Hudbay is made aware of the possibility of such claims, expenses, damages or losses.

Hudbay Not Responsible for Internet Software or Computer Viruses

Due to technical difficulties inherent in the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of information contained on the Website. Computer viruses or other destructive programs may also be inadvertently downloaded from the Website. Hudbay shall not be liable for Internet software, computer viruses or destructive programs and recommends that you install appropriate anti-virus or other protective software.

Hudbay Not Responsible for Linked Websites

The Website contains links to sites that Hudbay does not maintain. Hudbay assumes no responsibility for the contents of third-party sites accessed through links on the Website. Access to such third-party sites is provided for your convenience only. Hudbay does not monitor or endorse such third-party sites.

Website is Provided as a Service Only

The Website is not to be construed as a form of promotion, an offer to sell securities or as a solicitation or offering of securities in any jurisdiction and the information contained herein in no way should be construed or interpreted as such. The Website has been produced as a source of general information only. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by Hudbay to that effect. The information on the Website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Hudbay and should not be used for the purpose of making investment decisions concerning Hudbay securities. Hudbay’s Canadian and U.S. public filings can be viewed on SEDAR and at and on EDGAR at, respectively, or copies may be obtained from Hudbay’s Director, Investor Relations.

Stock Quotes

All quotes are delayed at least 20 minutes unless otherwise stated. All stock quotes and historical stock price data are provided by third party service providers and are provided for informational purposes only, and are not intended for trading purposes. If you are contemplating trading in the securities of Hudbay, we strongly advise you to seek independent professional advice before making any investment decision. Hudbay makes no representation or warranty regarding the accuracy or completeness of any such stock price quotes or historical stock price data and has not taken any steps to verify the adequacy, accuracy or completeness of the information provided herein.

Privacy Statement

Hudbay’s Website does not collect any personal information about visitors to the Website other than that which is specifically provided by you. For example, if you sign up for our email list, we will ask you for your email address so that we can send you email notices when we post news releases or new events on the Website. You may unsubscribe from these messages at any time by using the unsubscribe feature in the message (if provided) or by contacting us as described below under “Withdrawal of Consent”.

As a general proposition, any personal information that Hudbay collects will not be disclosed to third parties. The intent is that the information will be for the exclusive use of Hudbay. However, in order to improve integrity of the data, to assist in maintaining security over the data, or as required by law, some personal information may be required to be disclosed.

Hudbay does collect and maintain statistics relating to the number of visits to the Website, the types of browsers used and the Internet Protocol Address of the originator. This information is used only for internal purposes. Hudbay uses “session cookies” to assist in navigation of the site, but does not gather or store personal information after you leave the site.

Hudbay takes reasonable security measures to protect personal information from loss, unauthorized access, destruction, misuse, modification and disclosure. Hudbay treats the information with a high degree of regard and awareness for the private nature of the data. Our primary objective is to maintain the integrity and security of the data. Hudbay cannot guarantee secure transmission of the Internet.

We may revise this privacy statement from time to time, including if we intend to use or disclose personal information for purposes materially different than those described in this statement. We encourage you to visit the Website frequently to obtain the current version. By continuing to access the Website or provide personal information following any changes to this statement, you agree to accept any such changes.

Withdrawal of Consent

If you do not consent to having your personal information collected, used and disclosed as set out in this statement, or if you require further information to make this decision, or if you wish to withdraw consent, please email


The laws of the Province of Ontario and any applicable federal laws of Canada will govern this Legal Notice and your use of the Website. The courts of the Province of Ontario will have exclusive jurisdiction over any dispute arising out of your use of the Website.

Last updated: May, 2016

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