VMS Vortex Metals Inc

VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to announce it has entered into a joint venture agreement and four separate option agreements with a subsidiary of HudBay Minerals Inc. (TSX: HBM), respecting its copper-rich Reed Lake Discovery Zone properties and a series of adjacent mineral properties held by VMS in Manitoba's Flin Flon Greenstone Belt. These transactions were contemplated by the previously announced letter of intent entered into by the parties on March 4, 2010.

Pursuant to the joint venture agreement, HudBay has a 70% interest and VMS has a 30% interest in a joint venture respecting the Reed Lake property and the two claims immediately to the south. HudBay will act as operator of the joint venture with authority and discretion as to the exploration and potential development of the property and will have exclusive rights to purchase and market the ore produced from the property.

HudBay will also provide full financing for VMS' proportionate share of the costs to develop the property, which will be repayable solely from VMS' share of cash flow generated by the project. Upon VMS making certain filings to confirm the previously-disputed boundaries of the joint venture claims, HudBay will make a cash payment to VMS of $2.6 million, as consideration for VMS transferring the southern claims to the joint venture and in lieu of HudBay's obligation to earn back into the property under the initial option agreement between the parties.

VMS Ventures CEO Rick Mark, states: "This agreement allows our most important asset, the Reed Lake Discovery Zone to be developed. Our shareholders have waited patiently for this moment and I want to thank them for their perseverance. We are excited to work with the HudBay team to aggressively explore the Reed Lake property to determine the ultimate size of the deposit and advance it towards development. We are also pleased that exploration can again commence on the surrounding claims so that any other deposits on the properties can be identified. The agreement with HudBay removes any impediment to financing the project and provides the technical expertise and infrastructure necessary to help realize its full potential."

"We are very pleased to be entering into a joint venture with VMS Ventures and we are optimistic that the Reed Lake property can be developed into a source of copper feed for our Flin Flon concentrator," said W. Warren Holmes, HudBay's executive vice chairman and interim chief executive officer. "We intend to commence drilling on the Reed Lake property as soon as possible and we are also looking forward to conducting exploration on a number of promising targets on the option properties."

The option agreements grant HudBay the right to earn a 70% interest in four adjacent claim parcels held by VMS, including the Tower Zone and Super Zone properties. Upon making certain cash payments and meeting work commitments over two to three years, HudBay will earn a 70% interest in the applicable property and a new joint venture will be formed between HudBay and VMS which will have substantially the same terms as the Reed joint venture. Any failure to make the required cash payments and work commitments with respect to a particular property will cause that property to revert to VMS but will not affect HudBay's option over the other properties.

In order to fulfill the requirements to earn a 70% interest in the four optioned claim packages, HudBay will make payments totaling $1,120,000 with $255,000 paid on signing and make expenditures totaling $2,600,000 over a three year period. HudBay will also provide financing for the first $50 million dollars of VMS's portion of exploration and development costs for each of the four separate option agreement claim groups.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.

About HudBay Minerals Inc.

HudBay Minerals Inc. (TSX: HBM) is a Canadian integrated mining company with assets in North and Central America principally focused on the discovery, production and marketing of base metals. The company's objective is to maximize shareholder value through efficient operations, organic growth and accretive acquisitions, while maintaining its financial strength. A member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index, HudBay is committed to high standards of corporate governance and sustainability.

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the satisfaction of conditions precedent, results of exploration and the ability to successfully exploit any mineral deposits that are discovered. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of VMS and there is no assurance they will prove to be correct.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal B.Sc., President & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: VMS Ventures Inc. Keith Patey Director of Communications (604) 986-2020 or Toll Free: 1-866-816-0118 (604) 986-2021 (FAX) www.vmsventures.com Coal Harbor Communications Dale Paruk (604) 662-4505 or Toll Free: 1-877-345-3399