HBM Hudbay Minerals Inc

Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE:HBM) today announced that it has set February 28, 2019 for a Special Meeting of the company’s shareholders (the “Meeting”) for the purpose of considering an advisory resolution with respect to certain potential transactions. The vote on the advisory resolution was requisitioned by Waterton Global Resource Management, Inc., on behalf of certain funds managed by it. Shareholders will receive information about the Meeting and how to vote in a management information circular to be mailed in advance of the Meeting. In the meantime, there is no need for shareholders to take any action.

Hudbay’s Board welcomes constructive engagement with all shareholders, and members of the Board have met with Waterton to discuss their concerns. The Board remains committed to its disciplined approach to driving long-term and sustainable value creation, in the best interests of the company and all of its shareholders.

About Hudbay

Hudbay (TSX, NYSE: HBM) is an integrated mining company 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. Through its subsidiaries, Hudbay owns three 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 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. Further information about Hudbay can be found on www.hudbay.com.

For further information, please contact:

Carla NawrockiDirector, Investor Relations(416) 362-7362carla.nawrocki@hudbay.com

For media inquiries, please contact:

Scott BrubacherDirector, Corporate Communications(416) 814­4373 scott.brubacher@hudbay.com