HudBay Minerals Inc. - SRM Global Master Fund Announces Slate of Directors for Election to the Board of Directors of HudBay



    MONACO, Jan. 16 /CNW/ - SRM Global Master Fund Limited Partnership
("SRM") today announced its slate of Directors to be nominated for election to
the Board of Directors of HudBay Minerals Inc. ("HudBay") at the next meeting
of shareholders of HudBay.

    SRM's slate of directors includes Peter Jones (former Chief Executive
Officer of HudBay), Wesley Voorheis, John L. Knowles, W. Warren Holmes, Alan
Hibben, Alan Lenczner Q.C., Bruce Barraclough and Brian Gordon.

    SRM confirms that it has previously requisitioned, through its registered
nominee holder of its common shares of HudBay, a special meeting of
shareholders of HudBay. The purpose of the meeting is to remove the current
Board of Directors of HudBay and to elect in their stead the above slate of
Directors proposed by SRM.

    In response to SRM's requisition HudBay has called a special meeting of
shareholders of HudBay to be held on March 31, 2009. As previously announced,
SRM has commenced an application in the Ontario Superior Court of Justice, to
among other things, seek an order directing HudBay to call, hold and conduct a
special meeting of shareholders of HudBay to elect a new Board of Directors of
HudBay prior to the closing of the proposed business combination of HudBay and
Lundin Mining Corporation.





For further information:

For further information: Philip Price, Tel: 377 9797 7933

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SRM GLOBAL MASTER FUND LIMITED PARTNERSHIP

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