Hudbay Celebrates Groundbreaking of New Ingerbelle Expansion at Copper Mountain Mine

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Based on current mineral reserves, New Ingerbelle is projected to produce approximately 750,000 tonnes of copper, 900,000 ounces of gold and 5.5 million ounces of silver over the life of mine. Designed to access higher-grade mineralization, the expansion also features a stripping ratio approximately three times lower than current mining areas. The expansion is expected to generate significant economic benefits for British Columbia, including more than C$11.5 billion in provincial GDP, while preserving more than 800 direct jobs and generating more than C$2.2 billion in labour income. The expansion will continue to support regional supply chains, contractors, local businesses and community investment across the Similkameen region and the province.

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With key permits in place, Hudbay is advancing important infrastructure required for the expansion, including an access road, a bridge across the Similkameen river and an east haul road connecting New Ingerbelle to existing operations. Concurrently, the Company has initiated a targeted drilling program at New Ingerbelle, focusing on upgrading existing inferred resources to reserves to further optimize and extend the future mine life at Copper Mountain.

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Please see Figure 1 for a photo from the event, and please use this link to view a video message from Minister Hodgson regarding the event.

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Forward-Looking Information
       
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. 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.

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The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks associated with the judicial review application that has been filed by the Lower Similkameen Indian Band in respect of the Province of British Columbia’s approval of the New Ingerbelle expansion permit, risks associated with the costs and schedule to complete the New Ingerbelle expansion project, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), litigation, regulatory and landholding risks as well as the risks discussed under the heading “Risk Factors” in Hudbay’s most recent Annual Information Form.

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Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, you should not place undue reliance on forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

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Qualified Person and NI 43-101

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The technical and scientific information in this news release related to the Copper Mountain mine has been approved by Marc-Andre Brulotte, P. Geo., Executive Director, Global Mineral Resource Evaluation. Mr. Brulotte is a qualified person pursuant to the Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects. Additional details on the Company’s Copper Mountain mine are included in Hudbay’s Annual Information Form for the year ended December 31, 2025, a copy of which is available on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.