Hudbay and JOGMEC Sign Option Agreement to Expand the Existing Flin Flon Exploration Partnership with Marubeni

TORONTO, Jan. 22, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) is pleased to announce the signing of an amended and restated option agreement (the “Agreement”) with Japan Organization for Metals and Energy Security (“JOGMEC”) and Marubeni Corporation (“Marubeni”), pursuant to which Hudbay has granted JOGMEC an option (the “JOGMEC Option”) to acquire a 10% interest in three projects located within trucking distance of Hudbay’s processing facilities in Flin Flon, Manitoba, as shown in Figure 1 and further described below. In order to exercise the JOGMEC Option, amongst other things, JOGMEC will be required to fund at least C$6 million in exploration expenditures over a period of approximately three years, with Hudbay acting as the operator carrying out the exploration activities.