Oppression Remedy Application Commenced Against HudBay



    MONACO and FORT WORTH, TX, Jan. 12 /CNW/ - SRM Global Master Fund Limited
Partnership ("SRM") and Corriente Master Fund L.P. ("Corriente") announced
today that they have commenced an oppression application in the Ontario
Superior Court of Justice against HudBay Minerals Inc. ("HudBay").
    The application concerns the proposed business combination of HudBay and
Lundin Mining Corporation ("Lundin") and SRM's requisition of a shareholder
meeting pursuant to which HudBay has called a special meeting of shareholders
of HudBay to be held on March 31, 2009. In the application, the applicants
allege that HudBay has oppressed, unfairly prejudiced and unfairly disregarded
the applicants' rights and interests and the rights and interests of the other
holders of common shares of HudBay.
    The application seeks an order directing HudBay to call, hold and conduct
a special meeting of shareholders of HudBay to consider and vote on the
proposed business combination of HudBay and Lundin and to elect a new board of
directors of HudBay prior to the closing of the proposed business combination
of HudBay and Lundin.

    SRM beneficially owns or exercises control or direction over 16,826,807
common shares of HudBay representing approximately 11% of the outstanding
common shares of HudBay, and Corriente beneficially owns or exercises control
or direction over 3,308,200 common shares of HudBay representing approximately
2.16% of the outstanding common shares of HudBay.





For further information:

For further information: Philip Price, Tel: 377 9797 7933; Rob Lydick,
Tel: (817) 870-9147

Organization Profile

SRM GLOBAL MASTER FUND LIMITED PARTNERSHIP

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CORRIENTE MASTER FUND L.P.

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