Hudbay Acquires Shares of Mason Resources

TORONTO, ON--(Marketwired - August 23, 2017) - Hudbay Minerals Inc. (Hudbay or the company) (TSX: HBM) (NYSE: HBM) today announced that it has acquired ownership of 10,755,170 common shares ("Shares") of Mason Resources Corp. ("Mason") (TSX: MNR) at a purchase price of C$0.26 per Share for total consideration of C$2,796,344. The Shares acquired by Hudbay were purchased over the Toronto Stock Exchange and represent approximately 13.8% of the issued and outstanding Shares.

As a result of the investment, Hudbay now owns and has control over 10,854,170 Shares, representing approximately 13.9% of the issued and outstanding Shares.

The acquisition of the Shares is being made for investment purposes. Hudbay may in the future increase or decrease its ownership of Shares from time to time depending upon the business and prospects of Mason, future market conditions and Hudbay's investment objectives.

This press release is issued pursuant to applicable Canadian securities laws. A copy of the corresponding early warning report with additional information in respect of the foregoing matters will be filed and made available on Mason's SEDAR profile, at www.sedar.com.

About Hudbay

Hudbay (TSX: HBM) (NYSE: HBM) is an integrated mining company primarily 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. Directly and 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's growth strategy is focused on the exploration and development of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay's vision is to become a top-tier operator of long-life, low-cost mines in the Americas. Hudbay's mission is to create sustainable value through the acquisition, development and operation of high-quality and growing long-life deposits in mining-friendly jurisdictions. 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.