Hudbay's Manitoba Business Unit Signs First Saskatchewan Exploration Agreement with Peter Ballantyne Cree Nation

FLIN FLON, MB, April 21, 2026 /CNW/ - Hudbay Minerals Inc. ("Hudbay" or the "Company") (TSX:HBM) (NYSE:HBM) today announced that it has entered into an Exploration Agreement with the Peter Ballantyne Cree Nation ("PBCN"). The agreement commits both parties to meaningful collaboration and participation on exploration projects within PBCN's traditional territories in the Province of Saskatchewan.

"Our relationship with the Peter Ballantyne Cree Nation is rooted in a shared vision of building the future together," said John O'Shaughnessy, Vice President of Hudbay's Manitoba Business Unit. "Reaching this agreement is a significant step towards economic reconciliation and underscores our dedication to creating lasting mutual benefits. We recognize that treating our external communities of interest respectfully and fairly, and operating transparently, are the true foundations of a mutually beneficial and long-lasting relationship."

Peter Ballantyne Cree Nation is situated on Treaty 6 and Treaty 10 and consists of eight communities, including Amisk Lake, Deschambault Lake, Kinoosao, Pelican Narrows, Prince Albert, Sandy Bay, Southend, and Sturgeon Landing. PBCN is governed by one Chief and 14 elected Councillors. The Peter Ballantyne Cree Nation is also called Assin'skowitiniwak, which means "people of the rocky area."

"Our Nation has always held responsibility for these lands, and this agreement reflects that role moving forward," said Councillor Clayton Sewap of the Peter Ballantyne Cree Nation. "Through this partnership, we are ensuring that exploration is guided by our voices, our knowledge and our priorities, while creating real opportunities for our people."

"This relationship is crucial for our ongoing exploration success in the region," said Neil Richardson, Director of Exploration for Hudbay's Manitoba Business Unit.  "We look forward to collaborating closely with Peter Ballantyne Cree Nation as we begin our fieldwork. Having their guidance and support to work together ensures that we are exploring these traditional territories responsibly and respectfully."

Adhering to traditional protocol, prior to signing the agreement, the passing of tobacco was conducted as a gesture of beginning the relationship in a positive and respectful way between both parties. A future celebration will be planned in the spring in the community of Amisk Lake.

The signing of this agreement represents a compelling opportunity for Hudbay to enhance future production and extend mine life at its Manitoba operations through additional exploration activities in the neighbouring region of Saskatchewan. The agreement ensures transparency, guidance and support between Hudbay and PBCN throughout the exploration phase. 

Hudbay's Manitoba Business Unit is the historical cornerstone of the Company's operational strength, underpinned by the long-life Snow Lake operations that currently have a mine life until 2041. Since 2021, the Snow Lake operations have transformed to be a primary gold producer and the operations are expected to have average gold production of 190,000ⁱ ounces over the next three years, with cash cost guidance of $650ⁱ per ounce in 2026. With approximately 1.9 million ounces of gold contained in current mineral reserve estimates and another 1.3 million ounces in inferred mineral resources, Hudbay expects to continue to unlock significant value in Snow Lake and looks forward to further growing the mineral resource base through regional exploration as the Company continues to execute one of the largest exploration programs in its history in Snow Lake.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements regarding future of current and historical fact, is forward-looking information. 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 the forward-looking information in this news release is qualified by this cautionary note. Forward-looking information in this news release includes, but is not limited to, statements regarding production and cost expectations, the possibility of upgrading mineral resources to mineral reserves and the potential to extend the mine life of the Snow Lake operations. 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 the Company 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.

About Hudbay 

Hudbay ((TSX, NYSE:HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. 

Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by Hudbay, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum. 

Hudbay's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. 

The value Hudbay creates and the impact it has is embodied in its purpose statement: "We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities." Hudbay's mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.

SOURCE Hudbay Minerals Inc.

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