Hudbay Minerals Inc · TSX:HBM
Hudbay Minerals — Technical Presentation (April 2019)
81 slides from Hudbay Minerals's technical presentation, Apr 15, 2019
Slide 1: Snow Lake Site Visit Presentation
SNOW LAKE SITE VISIT PRESENTATION April 15-16, 2019
Slide 2: Cautionary Information
CAUTIONARY INFORMATION This presentation contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this presentation, other than statements of current and historical fact, is forward-looking information. Ofte
Slide 3: Table of Contents
TABLE OF CONTENTS Page Manitoba Business Unit Overview 4 Lalor Mine Overview 8 Lalor Mine Production Ramp-up 17 New Britannia Mill 36 Lalor Reserves & Resources and Future Mine Life Extension 44 Flin Flon Outlook 60 Management Team Bios 64 Appendix 69 3
Slide 4: Manitoba Business Unit Overview
MA N IT O B A BU S IN E S S UN IT OV E R V IE W 4
Slide 5: Manitoba Business Unit
MANITOBA BUSINESS UNIT New Britannia Mill Snow Lake Stall Mill LALOR MINE LALOR MINE Stall Mill 0 5km SASKATCHEWAN MANITOBA Snow Lake LALOR MINE 777 LALOR 777 MINE MINE Flin Flon MILL Flin Flon Mill TOWN RAILROAD Winnipeg ROAD 0 50km 5
Slide 6: Manitoba Flow Chart
MANITOBA FLOW CHART TWO MINES FEEDING THREE MILLS AND METALLURGICAL ZINC PLANT Copper Concentrate 777 Mine Flin Flon Mill Zinc Concentrate Copper Refined Zinc Plant Concentrate Zinc Stall Mill Zinc Concentrate Lalor Mine Gold Doré New Britannia Mill1 Copper Concentrate Legend: Processing Mine Produ
Slide 7: Manitoba Achievements
MANITOBA ACHIEVEMENTS DELIVERED ON OPERATIONAL AND GROWTH OBJECTIVES ✓ Completed test mining of Lalor gold zone in 2018 to enhance Lalor’s economics and better understand the gold processing options ✓ Stall mill achieved record throughput in 2018 ✓ Achieved nominal 4,500tpd mining rate at Lalor in Q
Slide 8: Lalor Mine Overview
H' DBAY LALOR MINE OVERVIEW
Slide 9: Lalor Mine
LALOR MINE PRODUCING LOW-COST GOLD-ZINC MINE WITH SIGNIFICANT UPSIDE POTENTIAL Strong ramp-up of ore production; expanded 4,500tpd mine plan New mine plan more than doubles annual gold production with the refurbishment of New Britannia Location Snow Lake, Manitoba gold mill Potential mine life exten
Slide 10: Lalor In-House Discovery & Development
LALOR IN-HOUSE DISCOVERY & DEVELOPMENT 2007 2009 2012-2014 2015 DISCOVERY DEVELOPMENT INITIAL PRODUCTION NEW BRITANNIA MILL Initial discovery hole Construction commenced Phase 1 completed in 2012; Acquired the nearby New drilled on Phase 1 ramp access Phase 2 completed in 2014 Britannia mill for ~$1
Slide 11: Updated Mine Plan Highlights
UPDATED MINE PLAN HIGHLIGHTS NEW BRITANNIA MILL – THE OPTIMAL PROCESSING SOLUTION FOR LALOR GOLD Gold recoveries increased to 93% at New Britannia from 53% at Stall INCREASED LALOR RESERVES ACROSS ALL METALS Gold reserve grade increased by over 1.0 g/t (+44%) with higher tonnage1 In-situ contained g
Slide 12: Lalor Production and Cash Costs
LA L O R PR O D U C T IO N A N D CA S H CO S T S Improved production profile at low cash costs GOLD PRODUCTION AND CASH COSTS ZINC PRODUCTION AND CASH COSTS Gold Production Cash Costs (Net of By-Products) Zinc Production Cash Costs (Net of By-Products) 200 $3,000 100 $4.00 Cash Costs (US$/oz net) $2
Slide 13: Lalor Gold Positioning
LA L O R GO L D PO S IT IO N IN G Lalor becomes a meaningful gold producer as one of the lowest cost gold mines in Canada 633 2017A GOLD PRODUCTION1,2 (K OZ) 571 376 353 349 305 272 236 200 209 196 194 167 157 141 111 99 91 86 84 67 59 55 51 49 48 28 16 Snow Lake Canadian Eleonore Holt Casa Berardi
Slide 14: Lalor Mine Plan Summary
LALOR MINE PLAN SUMMARY MINE PLAN SUMMARY 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E LOM Total1 BASE METAL ORE Ore mined 000 tonnes 1,589 1,481 1,559 1,135 1,251 1,144 894 612 10,844 Ore mined tpd 4,353 4,057 4,271 3,110 3,428 3,134 2,449 1,677 - Zinc grade % Zn 5.43% 6.37% 6.18% 5.92% 5.94% 5.
Slide 15: Lalor Mine Plan Summary (Cont'd)
LALOR MINE PLAN SUMMARY (CONT’D) PRODUCTION AND CAPEX SUMMARY 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E LOM Total1 PRODUCTION2 Zinc 000 tonnes 79 88 89 63 70 64 32 18 552 Copper 000 tonnes 8 8 9 10 10 15 11 4 83 Gold 000 ounces 69 58 75 143 137 138 172 114 1,134 Silver 000 ounces 651 692 725 7
Slide 16: Lalor Mine Plan Summary (Cont'd)
LALOR MINE PLAN SUMMARY (CONT’D) CASH COSTS SUMMARY 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E LOM Avg.1 ZINC BASIS Cash Costs US$/lb $0.61 $0.73 $0.55 ($0.05) $0.03 ($0.18) ($1.21) ($0.87) $0.09 Sustaining Cash Costs US$/lb $1.04 $1.14 $0.78 $0.26 $0.22 ($0.04) ($0.95) ($0.77) $0.35 GOLD BASIS
Slide 17: Lalor Mine Production Ramp-up
LALOR MINE PRODUCTION RAMP-UP 17
Slide 18: Lalor Mine Production Ramp-up
LALOR MINE PRODUCTION RAMP-UP RECENT IMPROVEMENTS IMPLEMENTED TO ACHIEVE 4500TPD RAMP-UP Ground control improvements Personnel enhancements Mine design changes Technical improvements Continuous improvement Statistical process control 18
Slide 19: Safety: Ground Control Improvements
SAFETY: GROUND CONTROL IMPROVEMENTS IMPLEMENTED FACE BOLTING ADDITIONAL GROUND SUPPORT • Installation of split sets and screen of all • Added a 5th bolt in centre of bolting development faces pattern to increase ground safety factor on first pass 19
Slide 20: Personnel Enhancements
PERSONNEL ENHANCEMENTS TECHNICAL ROLES Senior staff (technical and supervision) on a FIFO rotation basis Schedule and travel policy for other technical staff Schedulers & production co-ordinators in role with a focus on stope readiness and 7+21 FLPS Engaged Stantec to support mid and long range plan
Slide 21: Personnel Enhancements
PERSONNEL ENHANCEMENTS OPERATIONS, MAINTENANCE AND CONSTRUCTION ROLES Construction crews scheduled on a 24/7 basis for cable bolt, shotcrete, blast hole loading, ventilation and paste filling activities Engaged 3rd party service providers for embedded maintenance support. Engaged Dumas for technical
Slide 22: Personnel Enhancements
PERSONNEL ENHANCEMENTS PROJECT MANAGEMENT TEAM Snow Lake PMO team Owner’s team of coordinators, schedulers and project control Focus on contractor development and construction activities – 910mL garage, electrical, asset integrity, maintenance, and all other projects in Snow Lake 22
Slide 23: Mine Design: Mining Method Changes
MINE DESIGN: MINING METHOD CHANGES CONVERSION TO TRANSVERSE STOPING New footwall drift and drawpoint to access the ore Provides access to multiple mining fronts Allows more than one process in the stope cycle to be done at one time Zone 32 Zone 27 Mined Out – CMS Shapes 835mL Zone 32 1140 Ramp 1090
Slide 24: Mine Design: Tele Remote Mucking
MINE DESIGN: TELE REMOTE MUCKING TELE-REMOTE AND AUTONOMOUS MUCKING Underground Mucking Level Set-up Improves longhole mucking cycle times Operator is on surface and continues to muck through the entire shift even when no workers underground and through blast clearance times Tele-Remote Mucking from
Slide 25: Mine Design: Ore Handling Improvements
MINE DESIGN: ORE HANDLING IMPROVEMENTS LARGER SCOOPTRAMS AND OREPASSES ST18 scooptram with larger bucket increases tonnes per stope pass ST14 Bucket inside ST18 Bucket Ore passes and transfer raises reduce truck haulage distance to rockbreakers Removes the time wasted for scooptram operator waiting
Slide 26: Mine Design: Paste Backfill Plant
MINE DESIGN: PASTE BACKFILL PLANT COMMISSIONING OF PASTE PLANT IN 3Q 2018 Significantly reduces the time to backfill a stope Provides tight competent fill up against the hanging wall and a noticeable improvement to ground conditions Greater flexibility in mine design and sequencing options Ability t
Slide 27: Mine Design: Dewatering Improvements
MINE DESIGN: DEWATERING IMPROVEMENTS STURDA WEIR Engineered and stamped slime decanting fence Acts as a filter or decanter which stops slimes from entering the sumps by separating the water from the slimes Less slimes end up in the sumps, limits wear on mine dewatering pumping system 27
Slide 28: Technical Improvements: FLPS
TECHNICAL IMPROVEMENTS: FLPS FRONTLINE PLANNING & SCHEDULING 7 + 21 Deswik Schedule 7 + 21 weekly pre-commitment and commitment meetings Input from technical, maintenance and operations Maintenance Schedule Mine plan and stope reviews and tracking of performance Prep Maps for Individual Stopes Key P
Slide 29: Technical Improvements: Ventilation
TECHNICAL IMPROVEMENTS: VENTILATION VENTILATION DESIGN USING VENTSIM Modeling of LOMP Calculate total CFM requirements Predict airflows before breakthroughs Model mine planning scenarios Detailed Ventilation Flows and Fan Locations 2019 1Q LOMP Model 29
Slide 30: Technical Improvements: Asset Integrity
TECHNICAL IMPROVEMENTS: ASSET INTEGRITY IMPLEMENTED AN ASSET INTEGRITY PROGRAM Identify critical equipment of the mine Improve the PMs of the critical equipment Develop a parts management strategy for critical equipment Audit the equipment for threats Rank the risk of the threats to the operation Im
Slide 31: Continuous Improvement
CONTINUOUS IMPROVEMENT WHAT IS KAIZEN? 31
Slide 32: Continuous Improvement
CONTINUOUS IMPROVEMENT COMPLETED LALOR KAIZEN EVENTS Drilling and Loading Lineup Mucking Prep • Parking and • Stope Prep for both • Stope Prep for Storages Normal and Tele- Drilling to Start • Crew transport remote Mucking • Loading and tying of • Fueling in the stope • Rock Breaking Tips blasts • S
Slide 33: Kaizen: Increasing Effective Mucking Hours
KAIZEN: INCREASING EFFECTIVE MUCKING HOURS FUEL TRUCK Delivery of fuel and grease to scooptram in priority longhole stopes improves stope productivity due to: Equipment remains at stope and does not leave work area for daily fueling and greasing, which converts to more mucking hours per day Eliminat
Slide 34: Statistical Process Control
STATISTICAL PROCESS CONTROL PRODUCTION SPC CHART February Hoisting • Lalor made a new high for average daily hoist of 4,554 tpd • February continues the statistically significant trend seen in January Hoist - Statistically Significant 4500 4000 Before 3500 After 3000 34
Slide 35: Statistical Process Control
STATISTICAL PROCESS CONTROL LONGHOLE DRILLING 12000 Daily Data UCL February Drilling 10000 • February continued with reliable drilling 8000 • Despite higher daily production increased 6000 drilling rates only allowed a small drop in inventory 4000 • Statistically Significant change continues 2000 Dr
Slide 36: New Britannia Mill
NEW BRITANNIA MILL H' DBAY 36
Slide 37: History of New Britannia Mine
HISTORY OF NEW BRITANNIA MINE OVERVIEW Gold was first discovered in 1914 Construction started in 1945 The Nor-Acme mine was opened in 1949 and production continued until 1958 4.9 million tonnes were mined at an average grade of 4.4 g/t and Nor-Acme mill recovered approximately 610,000 ounce of gold
Slide 38: New Britannia Site Layout
NEW BRITANNIA SITE LAYOUT CONSTRUCTION OF NEW FLOTATION BUILDING New building will house new flotation, thickening and dewatering processes as well as the concentrate shed 38
Slide 39: Snow Lake Material Flow Map
SNOW LAKE MATERIAL FLOW MAP A pipeline corridor will connect New Britannia and the Stall Mill to transport tailings, Cu concentrate and reclaim water Birch Lake New TDF Britannia Mill Proposed Lalor Mine Pipeline System Chisel North Anderson (Photo Lake) Lake Mine Stall Lake Stall Anderson Mine Conc
Slide 40: Process Description
PROCESS DESCRIPTION Run-of-mine Lalor high-grade gold ore will be crushed at New Britannia mill. Ore will be floated first to recover copper as concentrate The tails of the flotation process will be thickened and then processed for gold doré In this stage, the feed slurry will be pre-aerated and ads
Slide 41: Process Description
PROCESS DESCRIPTION H' DBAY ROM STOCKPILE NEW BRITANNIA PRIMARY (1,500 TONNES) CRUSHING GRINDING {Peo = 80 microns) | Y Cu ROUGHER THICKENING, FLOTATION PRE-AERATION AND LEACHING Cu CLEANER CIP TANKS CN DESTRCUTION TO STALL MILL - FOR SCAVENGER Process |» PASTE PLANTOR ANDERSON ELUTION ew REFINING C
Slide 42: New Britannia Refurbishment Timeline
NEW BRITANNIA REFURBISHMENT TIMELINE 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Environmental Permitting Preliminary Engineering Project Sanctioning Detailed Engineering Procurement Construction Commissioning and Ramp-up
Slide 43: Growth Capital Breakdown
GROWTH CAPITAL BREAKDOWN CAPEX – New Britannia Mill Cost ($ CAD) Site General $20,600,000 Ore Handling $4,500,000 Grinding $3,200,000 Flotation and Dewatering $23,300,000 Leaching and Refining $3,500,000 Tailings (Stall Mill connection) $200,000 Total Direct Costs $55,300,000 Engineering and Indirec
Slide 44: Lalor Reserves & Resources and Future Mine Life Extension Potential
LALOR RESERVES & RESOURCES AND FUTURE MINE LIFE EXTENSION POTENTIAL 44
Slide 45: Lalor Reserves
LALOR RESERVES RESERVES ONLY SCENARIO PROVIDES FEED FROM LALOR TO STALL AND NEW BRITANNIA FOR 10 YEARS 2P Reserves Total 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Mine Production (tpd) 4,353 4,058 4,272 4,403 4,469 4,503 3,948 2,579 2,608 2,274 Tonnes 13,675,761 1,588,810 1,481,216 1,559,418
Slide 46: Lalor Resources
LALOR RESOURCES LALOR INFERRED MINERAL RESOURCE ESTIMATES (AS OF JANUARY 1ST, 2019) MORE STRINGENT APPROACH TO RESOURCE REPORTING EXPECTED TO YIELD HIGHER RESOURCE TO RESERVE CONVERSION FACTORS Mineral resource estimates at Lalor are reported within a ‘stope optimization envelope’ Similar to a Lerch
Slide 47: Lalor Mine Life Extension
LALOR MINE LIFE EXTENSION 2P LOM plan provides 10 years mine life Inferred resources provide and opportunity to extend mine life while keeping both mills full 47
Slide 48: Manitoba Exploration Success
MANITOBA EXPLORATION SUCCESS Hudbay has a long history of delivering additional tonnage beyond the initial reserves in the Flin Flon and Snow Lake VMS camps RESERVES IN THE FLIN FLON AND SNOW LAKE CAMP (MILLION TONNES) Flin Flon 62.5 Mt 777 Trout Lake Lalor Stall Lake Chisel U/G Callinan Chisel Osbo
Slide 49: Snow Lake Regional Potential
SNOW LAKE REGIONAL POTENTIAL Significant opportunity to expand the production profile at both Stall and New Britannia beyond current Lalor reserve and resource estimates RESOURCE ESTIMATES EXPLORATION OPPORTUNITIES TO DISPLACE CURRENT RESOURCES WITH PROVIDE CONSERVATIVE HIGHER VALUE FEED FOR BOTH ST
Slide 50: Lalor In-Mine Exploration
LALOR IN-MINE EXPLORATION DRILLING AT LALOR CONTINUES TO EXTEND HIGH GRADE LENSES Q1 2019 infill drilling of 25 lens extended lenses 23 and 32 and expanded lens 21 Estimated true width of ~20-25m combined for lenses 23, 32 and 25. Lenses 23 and 32 still have room to extend down plunge Resource model
Slide 51: Lalor In-Mine Exploration - Lens 17
LALOR IN-MINE EXPLORATION - LENS 17 Lens 17 (not in 2019 mineral resource estimates) is a Cu-Au rich analog to Lens 27 identified based on 7 surface holes. Drilling planned in 2019: Phase 1 to confirm upper portion in Q2 2019 Phase 2: Potential connection to Lens 10 (Zn rich) in 2H 2019 IN-MINE GOLD
Slide 52: Lalor In-Mine Exploration
LALOR IN-MINE EXPLORATION DEEP EXPLORATION PROGRAM: TEST FOR NEW BASE METAL LENSES AND CU- AU FEEDERS Test the potential a repeated lower limb fold represented by 42 may be a prospective horizon at depth May potentially intersect an additional feeder network associated with other mineralized horizon
Slide 53: Snow Lake Regional Potential
SNOW LAKE REGIONAL POTENTIAL HUDBAY HAS A LARGE PROSPECTIVE LAND PACKAGE IN THE SNOW LAKE BELT WITH SIGNIFICANT GOLD EXPLORATION POTENTIAL Proven + Probable Reserves Grade Contained Tonnage Copper Gold Silver Zinc Gold Eq(1) Gold Gold Eq(1) (Mt) (%) (g/t) (g/t) (%) (g/t) (koz) (koz) Lalor - Base Met
Slide 54: Discovery of 1901 Deposit
DISCOVERY OF 1901 DEPOSIT CONTINUING TO ADD VALUE THROUGH EXPLORATION Discovery of a new deposit with high-grade Chisel deep zinc in continuity with high-grade copper EM plates and gold intersections Located between the old Chisel North mine and Lalor at a depth of less than 600m below surface and w
Slide 55: 1901 Deposit
1901 DEPOSIT PRELIMINARY GEOLOGICAL MODEL Cu-Au stringers = Feeder system Towards heat Chisel to (continues below the Zn rich domain) source Lalor ramp CH0702 CH0703 Assays returned on CH1801 CH1203 CH0701 CH1901, CH1902, CH1903 & CH1904 confirm the CH0305 occurrence of a rich zinc CH1906 CH1101W01
Slide 56: WIM Deposit
WIM DEPOSIT PRE-FEASIBILITY STUDY IN-PROGRESS Located 16km north of the town of Bulk of the high grade indicated Snow Lake resource is within ramp access from bottom of proposed pit, i.e. Deposit owned 100% by Hudbay minimum development required Extensive geophysical surveys and diamond drilling (20
Slide 57: Pen II Deposit
PEN II DEPOSIT PRE-FEASIBILITY STUDY IN-PROGRESS Deposit owned 100% by Hudbay Located 7km from Lalor infrastructure % Zn 0.0 - 2.0 2.0 - 4.0 Total of 104 holes completed to 4.0 - 6.0 date for ~20,000 metres 6.0 - 8.0 >8.0 Deposit sub-crops and extends to Twelve holes planned for 500 metres below sur
Slide 58: Snow Lake Gold Deposits
SNOW LAKE GOLD DEPOSITS NEW BRITANNIA MINE Located in the town of Snow Lake and 100% owned by Hudbay Total historical production of 1.44M Oz at 4.23 g/t 2019 Inferred Mineral Resources: 4.4MT at 4.82 g/t Au or 682,000 in-situ ounces at the Drill Locations mine and its satellite deposits This mineral
Slide 59: Snow Lake Gold Deposits
SNOW LAKE GOLD DEPOSITS TERN AND PURPLE SANDY BEACH PROSPECTS SOUTH OF SNOW LAKE Gold exploration targets with recently completed induced polarization (“IP”) survey Summer drilling program planned to test IP anomalies 59
Slide 60: Flin Flon Outlook
FLIN FLON OUTLOOK H' DBAY 60
Slide 61: 777 Mine
777 MINE STEADY, LOW-COST PRODUCTION Maximizing cash flow to end of mine life Plan to keep the Flin Flon mill and tailings on care and maintenance after mine closure to maintain regional optionality Location Flin Flon, Manitoba Ownership 100% Type of deposit VMS deposit Processing Flin Flon mill Ref
Slide 62: Flin Flon Transition Plans
FLIN FLON TRANSITION PLANS 777 Mine reserves will be depleted in Q2 2022 The Flin Flon Mill and tailings facility will be placed on care and maintenance after 777 mining operations cease The Zinc Plant shutdown must occur in the summer months as the plant relies on process heat The current closure d
Slide 63: Successful Reed Mine Closure
SUCCESSFUL REED MINE CLOSURE RESTORING THE ENVIRONMENT Located in a Provincial Park, Reed mine produced its last ore in August 2018 Mine closure activities were completed in October with all equipment removed from site Reclamation work is underway and will continue in 2019 REED MINE RECLAMATION BEFO
Slide 64: Management Team Bios
MANAGEMENT TEAM BIOS H' DBAY 64
Slide 65: Management Team Bios
MANAGEMENT TEAM BIOS ALAN HAIR, PRESIDENT & CEO Alan Hair was appointed President and Chief Executive Officer and Director in January 2016 Over 20 years leadership within Hudbay in various operating, technical and business capacities Over 35 years of sector experience on four continents at Hudbay, A
Slide 66: Management Team Bios
MANAGEMENT TEAM BIOS CASHEL MEAGHER, SVP & COO Cashel Meagher was appointed Senior Vice President and Chief Operating Officer in January 2016, leading Hudbay’s international operating teams and responsible for business development, technical services, exploration and corporate social responsibility.
Slide 67: Management Team Bios
MANAGEMENT TEAM BIOS ROBERT ASSABGUI, VP MANITOBA BUSINESS UNIT Robert Assabgui was appointed Vice President, Manitoba Business unit in April 2018. As leader of the Manitoba Business Unit, Rob provides strategic and operational leadership for all aspects of Hudbay's activities in Manitoba. He is res
Slide 68: Management Team Bios
MANAGEMENT TEAM BIOS OLIVIER TAVCHANDJIAN, VP, EXPLORATION AND GEOLOGY Olivier joined Hudbay in September 2017 and leads the execution of Hudbay's exploration strategy to create value through increasing the mineral reserves and mineral resources of the company. Olivier brings 25 years of experience
Slide 69: Appendix
APPENDIX H' DBAY 69
Slide 70: Helicopter Tour – Flight Path
HELICOPTER TOUR – FLIGHT PATH Flight Path 70
Slide 71: 2019 Guidance
2019 GUIDANCE PRODUCTION AND UNIT COST CONTAINED METAL IN CONCENTRATE1 2019 GUIDANCE 2018 ACTUAL 2018 GUIDANCE MANITOBA2 Copper tonnes 22,000 – 25,000 32,372 27,500 – 32,500 Zinc tonnes 100,000 – 115,000 115,588 105,000 – 130,000 Precious Metals3 ounces 105,000 – 125,000 113,188 120,000 – 145,000 C$
Slide 72: 2019 Guidance
2019 GUIDANCE CAPITAL EXPENDITURE1 $ MILLIONS 2019 GUIDANCE YEAR ENDED DEC. 31, 2018 2018 GUIDANCE SUSTAINING CAPITAL Manitoba 100 104 85 Peru2 95 40 50 TOTAL SUSTAINING CAPITAL 195 144 135 GROWTH CAPITAL Manitoba 10 18 20 Peru 45 2 -3 Arizona 20 20 35 TOTAL GROWTH CAPITAL 75 40 55 Capitalized Explo
Slide 73: Snow Lake Reserves & Resources
SNOW LAKE RESERVES & RESOURCES AS AT JANUARY 1, 2019 PROPERTY CATEGORY TONNES Cu (%) Zn (%) Au (g/t) Ag (g/t) Proven 5,137,000 0.76 7.13 2.37 26.31 Base Metal Zone Probable 5,552,000 0.44 4.19 3.52 27.39 Proven 58,000 0.80 2.65 5.46 39.09 Gold Zone Probable 2,928,000 1.09 0.31 6.74 23.08 Total Lalor
Slide 74: Flin Flon Reserves & Resources
FLIN FLON RESERVES & RESOURCES AS AT JANUARY 1, 2019 PROPERTY CATEGORY TONNES Cu (%) Zn (%) Au (g/t) Ag (g/t) Proven 2,169,000 1.80 4.44 1.77 26.45 777 Reserves Probable 1,384,000 0.97 3.75 2.03 21.65 Total 777 Mineral Reserves 3,552,000 1.48 4.17 1.87 24.58 Indicated 375,000 1.13 4.05 1.79 29.57 77
Slide 75: Additional Information
ADDITIONAL INFORMATION The reserve and resource estimates included in this presentation were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resourc
Slide 76: Additional Information – Lens 17
ADDITIONAL INFORMATION – LENS 17 Drill results Hole ID From To Intercept Depth Estimated true Cu Au (m) (m) (m) (m) width(m)1 (%)2 (g/t)2 189W01 1197.0 1205.0 8.0 1154 7.1 0.1 9.3 193W01 1041.2 1046.5 5.4 1028 4.1 1.1 2.8 267W01 1120.8 1127.2 6.3 1098 4.5 2.7 11.3 273 1211.8 1215.8 4 1202 2.9 1.9 1.
Slide 77: Additional Information – Zone 1901
ADDITIONAL INFORMATION – ZONE 1901 Drill results From To Intercept Estimated true Hole ID Au (g/t) Ag (g/t) Cu (%) Zn (%) Description (m) (m) (m) width (m) 1 CH0305 736.5 743.7 7.2 7.0 0.04 1.76 0.40 0.03 Weak mineralization CH0701 728.5 729.5 1.0 1.0 13.44 80.57 9.93 0.56 Sub-economic mineralizatio
Slide 78: Additional Information – Lalor In-Mine
ADDITIONAL INFORMATION – LALOR IN-MINE Drill results 950m Level drilling Lens 23 78
Slide 79: Additional Information – Lalor In-Mine
ADDITIONAL INFORMATION – LALOR IN-MINE Drill results 950m Level drilling Lens 25 79
Slide 80: Additional Information – Lalor In-Mine
ADDITIONAL INFORMATION – LALOR IN-MINE Drill results 950m Level drilling Lens 32 80
Slide 81: For More Information Contact:
F O R M O R E I N F O R M AT I O N C O N TA C T: Candace Brûlé, Director, Investor Relations 416.814.4387 | candace.brule@hudbay.com
Hudbay Minerals — Technical Presentation (April 2019) on 6ix