hudbayminerals.com Open in urlscan Pro
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                          <h2>Copper Mountain</h2>
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                              <h4>Primary Metals</h4>
                              <p class="module-mine-summary-description">Copper, Gold, <br>Silver</p>
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                              <h4>Daily Mill Capacity</h4>
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                              <h4>Mine Type</h4>
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                          <h2>Snow Lake</h2>
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                              <h4>Primary Metals</h4>
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                              <h4>Daily Mill Capacity</h4>
                              <p class="module-mine-summary-description">5,300 <span>tonnes</span></p>
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                              <h4>Mine Type</h4>
                              <p class="module-mine-summary-description">Underground</p>
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                        <!--<div class="module-mine-summary-item">
          <h2>Flin Flon</h2>
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                  <h4>Daily Ore Mined</h4>
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                  <h4>Mine Type</h4>
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              <nav aria-label="Web Menu" class="nav nav--secondary dark">
                <ul class="level1">
                  <li><a href="https://hudbayminerals.com/why-copper/default.aspx">Why Copper</a></li>
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                            <p class="intro-text"> With close to 100 years of history, Hudbay is proud to be the third-largest copper producer in Canada with operations in British Columbia and Manitoba. </p>
                            <p> Our Canadian business can trace its history back almost a century, to our first mines in Manitoba’s Flin Flon Snow Lake Greenstone Belt. It was there we laid the foundation for the mine-building expertise and community
                              engagement that distinguish Hudbay to this day. Our operational focus in Canada, with two operating mines in British Columbia and Manitoba, is core to our ability to create sustainable long-term value for shareholders.
                            </p>
                            <p> With the addition of the Copper Mountain Mine, Hudbay has become the third-largest copper producer in Canada. The Copper Mountain Mine, located south of Princeton, British Columbia, is a conventional open pit, truck
                              and shovel operation. Hudbay owns 75% of the Copper Mountain Mine, with the remainder owned by Mitsubishi Materials Corporation. The mine has a 45,000 tonnes per day plant that utilizes a conventional crushing, grinding
                              and flotation circuit to produce copper concentrates with gold and silver credits. <!--Hudbay will be releasing an updated technical report for Copper Mountain later in 2023 to provide
              reserve and resource estimates and an updated life of mine plan.</p>-->
                            </p>
                            <p> Manitoba’s Snow Lake region continues to be an area of opportunity as our reserves, processing capacity and exploration activities expand in the region, setting the stage for a new phase of growth. Our Lalor mine
                              (gold, zinc, copper, silver) in Snow Lake is a meaningful low-cost gold producer that substantially benefited from the refurbishment of the New Britannia mill in 2021. Hudbay has been actively conducting drilling
                              activities testing the down-plunge gold and copper extensions of the Lalor deposit, in the first step out drilling in the deeper zones at Lalor since the initial discovery of the gold zones in 2009. </p>
                          </div>
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                          <div class="module-mine-summary-item">
                            <h4>Number of Employees</h4>
                            <h5>Copper Mountain</h5>
                            <span class="module-mine-summary-description">547</span><br><br>
                            <h5>Snow Lake</h5>
                            <span class="module-mine-summary-description">933</span>
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                          <div class="module-mine-summary-item">
                            <h4>Mine Life</h4>
                            <div class="grid">
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                                <h5>Copper Mountain</h5>
                                <span class="module-mine-summary-description">+20 <span style="font-size: 2.4rem">years</span></span>
                              </div>
                              <br><br>
                              <div class="grid_col grid_col--1-of-1 grid_col--sm-1-of-1">
                                <h5>Snow Lake</h5>
                                <span class="module-mine-summary-description">+15 <span style="font-size: 2.4rem">years</span></span>
                              </div>
                              <!--<div class="grid_col grid_col--1-of-2 grid_col--sm-1-of-2">
                  <h5>Flin Flon</h5>
                  <span class="module-mine-summary-description">2022</span>
              </div>-->
                            </div>
                          </div>
                          <div class="module-mine-summary-item module-mine-summary-item--no-margin">
                            <span class="line-separator--sm"></span>
                            <span class="module-mine-summary-alt">The <strong>electricity</strong> used to run our processing plants is <strong>primarily renewable</strong>.</span>
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                          <h2>Snow Lake 2023 Performance <small>(Contained metal in concentrate produced)</small></h2>
                        </div>
                        <div class=" no-border-title">
                          <div class="module-panel-item">
                            <h4>Copper:</h4>
                            <div class="module-panel-stat"><span class="number-stat">12,154</span> <span>tonnes</span></div>
                          </div>
                          <div class="module-panel-item">
                            <h4>Zinc:</h4>
                            <div class="module-panel-stat"><span class="number-stat">34,642</span>&nbsp;<span>tonnes</span></div>
                          </div>
                          <div class="module-panel-item">
                            <h4>Gold &amp; DORÉ:</h4>
                            <div class="module-panel-stat"><span class="number-stat">187,363</span>&nbsp;<span>ounces</span></div>
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                            <h4>Silver:</h4>
                            <div class="module-panel-stat"><span class="number-stat">851,723</span><span>ounces</span></div>
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                          <h2>Snow Lake 2024 Guidance <small>(Contained metal in concentrate)</small></h2>
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                          <div class="module-panel-item">
                            <h4>Copper:</h4>
                            <div class="module-panel-stat"><span class="number-stat">9,000 - 12,000</span> <span>tonnes</span></div>
                          </div>
                          <div class="module-panel-item">
                            <h4>Zinc:</h4>
                            <div class="module-panel-stat"><span class="number-stat">27,000 - 35,000</span> <span>tonnes</span></div>
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                          <div class="module-panel-item">
                            <h4>Gold &amp; DORÉ:</h4>
                            <div class="module-panel-stat"><span class="number-stat">170,000 - 200,000 <span>ounces</span></span></div>
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                            <h4>Silver:</h4>
                            <div class="module-panel-stat"><span class="number-stat">750,000 - 1,000,000</span> <span>ounces</span></div>
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                        <div class="border-title header-margin">
                          <h2>Copper Mountain 2023 Performance <small>(Contained metal in concentrate produced) <br> Note: Includes 100% of Copper Mountain production since June 20, 2023 acquisition date.</small></h2>
                        </div>
                        <div class="no-border-title">
                          <div class="module-panel-item">
                            <h4>Copper:</h4>
                            <div class="module-panel-stat"><span class="number-stat">19,050</span> <span>tonnes</span></div>
                          </div>
                          <!--
        <div class="module-panel-item">
            <h4>Zinc:</h4>
            <div class="module-panel-stat"><span class="number-stat">27,000 - 35,000</span> <span>tonnes</span></div>
        </div>
-->
                          <div class="module-panel-item">
                            <h4>Gold:<!-- &amp; DORÉ: --> </h4>
                            <div class="module-panel-stat"><span class="number-stat">8,848 <span>ounces</span></span></div>
                          </div>
                          <div class="module-panel-item">
                            <h4>Silver:</h4>
                            <div class="module-panel-stat"><span class="number-stat">218,282</span> <span>ounces</span></div>
                          </div>
                        </div>
                      </div><br>
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                      <div class="module-panel-container">
                        <div class="border-title header-margin">
                          <h2>Copper Mountain 2024 Guidance<small>(Contained metal in concentrate) </small></h2>
                        </div>
                        <div class="no-border-title">
                          <div class="module-panel-item">
                            <h4>Copper:</h4>
                            <div class="module-panel-stat"><span class="number-stat">30,000 - 44,000</span> <span>tonnes</span></div>
                          </div>
                          <div class="module-panel-item">
                            <h4>Gold:</h4>
                            <div class="module-panel-stat"><span class="number-stat">17,000 - 26,000 <span>ounces</span></span></div>
                          </div>
                          <div class="module-panel-item">
                            <h4>Silver:</h4>
                            <div class="module-panel-stat"><span class="number-stat">300,000 - 455,000</span> <span>ounces</span></div>
                          </div>
                        </div>
                      </div><br>
                      <style></style>
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                </div>
              </span><span class="ContentPaneDiv7">
                <div id="_ctrl0_ctl72_divModuleContainer" class="module module-html module--no-padding module-boxes vertical-align-top">
                  <div class="module_container module_container--outer">
                    <div class="module_container module_container--inner">
                      <div class="disp_table md-disp_table to-animate">
                        <div class="disp_cell grid_col--1-of-2 box-image environment-image">
                          <div class="box-image-height"></div>
                        </div>
                        <div class="disp_cell grid_col--1-of-2 border-title thick-padding background--grey header-margin">
                          <h2>Environment</h2>
                          <p> We take environmental performance seriously, and are implementing the Mining Association of Canada’s TSM (Towards Sustainable Mining) protocols for Biodiversity, Energy and Greenhouse Gas and Tailings at all of our
                            operations. These protocols provide clear guidelines for monitoring, measuring and reporting on performance. They emphasize management processes, senior executive oversight and expert third-party reviews, which help to
                            ensure appropriate technical standards of construction, maintenance and operation. </p>
                          <div class="border-bottom">
                            <div class="module-boxes-number">AAA <span>Rating</span></div>
                            <div class="module-boxes-description"> Attained for tailings management in the latest TSM Progress Report </div>
                          </div>
                        </div>
                      </div>
                      <div class="disp_table md-disp_table dir_rl to-animate">
                        <div class="disp_cell grid_col--1-of-2 box-image community-image dir_lr">
                          <div class="box-image-height"></div>
                        </div>
                        <div class="disp_cell grid_col--1-of-2 border-title thick-padding background--grey header-margin dir_lr">
                          <h2>Community</h2>
                          <!-- <p> Hudbay didn’t just build a successful business in northern Manitoba – it helped build successful communities like the city of Flin Flon. Through jobs, business opportunities, taxes and royalties, community development programs and infrastructure investments, we support and advance long-term socio-economic development. We acknowledge that we operate on the unceded territories of the Upper and Lower Similkameen Indian Bands in British Columbia. Copper Mountain has participation agreements in place with the Upper Similkameen Indian Band and the Lower Similkameen Indian Band as well as support from the town of Princeton and the province of British Columbia.<br><br> Developing job skills within indigenous communities not only helps the communities; it also benefits Hudbay by growing the base from which we hire and increasing the number of qualified suppliers from which we procure goods and services.</p> -->
                          <!-- <p>Hudbay didn’t just build a successful business in northern Manitoba – it helped build successful communities like the city of Flin Flon. Through jobs, business opportunities, taxes and royalties, community development programs and infrastructure investments, we support and advance long-term socio-economic development. In northern Manitoba, where a large portion of the population self-identify as indigenous, we work closely with our indigenous community partners to bridge cultural gaps and improve business opportunities. Developing job skills within indigenous communities not only helps the communities; it also benefits Hudbay by growing the base from which we hire and increasing the number of qualified suppliers from which we procure goods and services.</p> -->
                          <p> Hudbay didn’t just build a successful business in northern Manitoba – it helped build successful communities like the city of Flin Flon. We recognize and acknowledge the land on which we will operate in Manitoba is on
                            the traditional territory of the Swampy Cree and Woodland Cree, the Anishinaabe, OjiCree, Dene and homeland of the Métis Nation peoples. </p>
                          <p> We acknowledge that we operate in British Columbia on the unceded territories of the Upper and Lower Similkameen Indian Bands. Copper Mountain has participation agreements in place with the Upper Similkameen Indian Band
                            and the Lower Similkameen Indian Band as well as support from the town of Princeton and the province of British Columbia. </p>
                          <p> Through jobs, business opportunities, taxes and royalties, community development programs and infrastructure investments, we support and advance long-term socio-economic development. Developing job skills within
                            indigenous communities not only helps the communities; it also benefits Hudbay by growing the base from which we hire and increasing the number of qualified suppliers from which we procure goods and services. </p>
                          <div class="border-bottom">
                            <div class="module-boxes-number">15<span>%</span></div>
                            <div class="module-boxes-description"> Of our employees in British Columbia self-identify as <strong>indigenous</strong>
                            </div>
                          </div>
                          <div class="border-bottom">
                            <div class="module-boxes-number">14<span>%</span></div>
                            <div class="module-boxes-description"> Of our employees in Manitoba self-identify as <strong>indigenous</strong>
                            </div>
                          </div>
                          <!--<div class="border-bottom">
          <div class="module-boxes-number"><sup>$</sup>50.7 <span>million</span></div>
          <div class="module-boxes-description">Payments to suppliers</div>
      </div>

      <div class="border-bottom">
          <div class="module-boxes-number"><sup>$</sup>2,149,103</div>
          <div class="module-boxes-description">Payments to indigenous businesses</div>
      </div>-->
                        </div>
                      </div>
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                        <div class="disp_cell grid_col--1-of-2 box-image people-image">
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                        </div>
                        <div class="disp_cell grid_col--1-of-2 border-title thick-padding background--grey header-margin">
                          <h2>People</h2>
                          <p> We recognize that employing people with different backgrounds, experiences and perspectives makes us stronger and fosters collaboration. In Manitoba, we partnered with the Northern Manitoba Sector Council to increase
                            recruitment of indigenous employees. Twelve people have been hired under the program so far. Separately, two women in our Manitoba Business Unit founded the Hudbay Women’s Network, an employee-led voluntary resource group.
                            The group’s founding principle is gender inclusion and its goal is to empower Hudbay employees by providing a vehicle for professional growth and a strong voice. To learn more, please visit:
                            <a href="/news-media/case-studies/case-studies-details/2018/Hudbay-Womens-Network-Fostering-Gender-Diversity-in-Mining/default.aspx">Hudbay Women’s Network: Fostering Gender Diversity in Mining</a>. </p>
                          <div class="border-bottom">
                            <div class="module-boxes-number">18<span>%</span></div>
                            <div class="module-boxes-description"> Of our employees in British Columbia are female </div>
                          </div>
                          <div class="border-bottom">
                            <div class="module-boxes-number">18<span>%</span></div>
                            <div class="module-boxes-description"> Of our employees in Manitoba are female </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
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                <div id="_ctrl0_ctl75_divModuleContainer" class="module module-html module-panel-full module-border-bottom to-animate">
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                    <h2 id="_ctrl0_ctl75_lblTitle" class="module_title"><span id="_ctrl0_ctl75_lblModuleTitle" class="ModuleTitle">Reserves and Resources – Copper Mountain</span></h2>
                    <div class="module_container module_container--inner">
                      <h3>Current mineral reserve and resource as of January 1, 2024</h3>
                      <div class="table-wide-scroll">
                        <table class="table">
                          <thead>
                            <tr>
                              <th>
                                <h3>Copper Mountain Mine</h3>
                                <br>
                                <strong> Mineral Reserve and Resource Estimates<sup>1,2,3,4,5,6</sup>
                                </strong>
                              </th>
                              <th>
                                <strong>Tonnes</strong>
                              </th>
                              <th>
                                <strong>Cu Grade<br>(%)</strong>
                              </th>
                              <th>
                                <strong>Au Grade<br>(g/t)</strong>
                              </th>
                              <th>
                                <strong>Ag Grade<br>(g/t)</strong>
                              </th>
                              <!-- <th>
          <strong>CuEq Grade<br />(%)</strong>
        </th> -->
                            </tr>
                          </thead>
                          <tbody>
                            <tr>
                              <td colspan="6">
                                <strong>Reserves</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Proven</td>
                              <td>195,000,000</td>
                              <td>0.27</td>
                              <td>0.12</td>
                              <td>0.8</td>
                              <!-- <td>0.35</td> -->
                            </tr>
                            <tr></tr>
                            <tr>
                              <td>Probable</td>
                              <td>172,000,000</td>
                              <td>0.22</td>
                              <td>0.11</td>
                              <td>0.6</td>
                              <!-- <td>0.30</td> -->
                            </tr>
                            <tr>
                              <td><strong>Total Proven and Probable</strong></td>
                              <td><strong>367,000,000</strong></td>
                              <td><strong>0.25</strong></td>
                              <td><strong>0.12</strong></td>
                              <td><strong>0.7</strong></td>
                              <!-- <td>0.33</td> -->
                            </tr>
                            <tr>
                              <td colspan="6">
                                <strong>Resources</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Measured</td>
                              <td>41,000,000</td>
                              <td>0.21</td>
                              <td>0.09</td>
                              <td>0.7</td>
                              <!-- <td>0.27</td> -->
                            </tr>
                            <tr>
                              <td>Indicated</td>
                              <td>97,000,000</td>
                              <td>0.21</td>
                              <td>0.11</td>
                              <td>0.7</td>
                              <!-- <td>0.29</td> -->
                            </tr>
                            <tr>
                              <td><strong>Total Measured and Indicated</strong></td>
                              <td><strong>138,000,000</strong></td>
                              <td><strong>0.21</strong></td>
                              <td><strong>0.10</strong></td>
                              <td><strong>0.7</strong></td>
                              <!-- <td>0.28</td> -->
                            </tr>
                            <tr>
                              <td><strong>Inferred</strong></td>
                              <td><strong>371,000,000</strong></td>
                              <td><strong>0.25</strong></td>
                              <td><strong>0.13</strong></td>
                              <td><strong>0.6</strong></td>
                              <!-- <td>0.34</td> -->
                            </tr>
                          </tbody>
                        </table>
                      </div>
                      <!--<p><small>Note: totals may not add up correctly due to rounding.</small><br>
    <small><sup>1</sup> Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability. </small><br>
    <small><sup>2</sup> Mineral resources do not include factors for mining recovery or dilution.</small><br>
    <small><sup>3</sup> Base metal mineral resources are estimated based on the assumption that they would be processed at the Stall concentrator while gold mineral resources are estimated based on the assumption that they would be processed at the New Britannia concentrator.</small><br>
    <small><sup>4</sup> Long-term metal prices of $1.20 per pound zinc, $1,650 per ounce gold, $3.60 per pound copper, and $22.00 per ounce silver with an exchange rate of 1.33 C$/US$ were used to estimate mineral reserves and resources.</small><br>
    <small><sup>5</sup> Lalor mineral reserves and resources are estimated using NSR cut-off ranging from C$137 to C$168 per tonne assuming a long hole mining method and depending on the mill destination.</small><br>
    <small><sup>6</sup> Individual stope gold grades at Lalor were capped at 10 grams per tonne as a prudent estimate until reserves-to-mill reconciliations can be developed to support the recovery of higher-grade gold. This capping method resulted in an approximate 3% reduction in the overall gold reserve grade at Lalor.</small><br>
    <small><sup>7</sup> 1901 mineral reserves and resources are estimated using a minimum NSR cut-off of C$166 per tonne assuming the material is mined via post pillar cut-and-fill methods and is processed at the Stall mill.</small>
</p>-->
                      <p>
                        <small>Note: totals may not add up correctly due to rounding.</small><br>
                        <small><sup>1</sup>Mineral resource estimates are exclusive of mineral reserves. Mineral resources are not mineral reserves as they do not have demonstrated economic viability.</small><br>
                        <small><sup>2</sup>Mineral reserves are reported using an NSR cut-off value of $5.67 per tonne that meets a minimum 0.10% copper grade.</small><br>
                        <small><sup>3</sup>Long term metal prices of $4.00 per pound copper, $1,700 per ounce gold and $23.00 per ounce silver were used to confirm the economic viability of the mineral reserve estimates.</small><br>
                        <small>
                          <sup>4</sup> Long term metal prices of $4.00 per pound copper, $1,650 per ounce gold and $22.00 per ounce silver were used to estimate mineral resources. </small>
                        <br>
                        <small>
                          <sup>5</sup>Mineral resource estimate tonnes and grades constrained to a Lerch Grossman revenue factor 1 pit shell. </small>
                        <br>
                        <small>
                          <sup>6</sup>Mineral reserve and resource estimates presented on a 100% basis. Hudbay holds a 75% interest in the Copper Mountain mine. </small>
                      </p>
                    </div>
                  </div>
                </div>
              </span><span class="ContentPaneDiv9">
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                  <div class="module_container module_container--outer">
                    <h2 id="_ctrl0_ctl78_lblTitle" class="module_title"><span id="_ctrl0_ctl78_lblModuleTitle" class="ModuleTitle">Reserves and Resources – Lalor</span></h2>
                    <div class="module_container module_container--inner">
                      <h3>Current mineral reserves and resources as of January 1, 2024</h3>
                      <div class="table-wide-scroll">
                        <table class="table">
                          <thead>
                            <tr>
                              <th>
                                <h3>Lalor Mine and 1901 Deposit</h3>
                                <br>
                                <strong> Mineral Reserve and Resource Estimates<sup>1,2,3,4,5,6,7,8</sup>
                                </strong>
                              </th>
                              <th>
                                <strong>Tonnes</strong>
                              </th>
                              <th>
                                <strong>Au Grade<br>(g/t)</strong>
                              </th>
                              <th>
                                <strong>Zn Grade<br>(%)</strong>
                              </th>
                              <th>
                                <strong>Cu Grade<br>(%)</strong>
                              </th>
                              <th>
                                <strong>Ag Grade<br>(g/t)</strong>
                              </th>
                            </tr>
                          </thead>
                          <tbody>
                            <tr>
                              <td colspan="6"><strong>Gold Zone Reserves</strong></td>
                            </tr>
                            <tr>
                              <td>Proven - Lalor</td>
                              <td>3,263,000</td>
                              <td>5.5</td>
                              <td>0.73</td>
                              <td>0.59</td>
                              <td>29.6</td>
                            </tr>
                            <tr>
                              <td>Proven - 1901</td>
                              <td>102,000</td>
                              <td>2.8</td>
                              <td>1.33</td>
                              <td>1.00</td>
                              <td>19.2</td>
                            </tr>
                            <tr>
                              <td>Probable - Lalor</td>
                              <td>3,678,000</td>
                              <td>4.5</td>
                              <td>0.37</td>
                              <td>1.22</td>
                              <td>22.1</td>
                            </tr>
                            <tr>
                              <td>Probable - 1901</td>
                              <td>52,000</td>
                              <td>1.7</td>
                              <td>0.44</td>
                              <td>1.88</td>
                              <td>5.4</td>
                            </tr>
                            <tr>
                              <td>Total Proven and Probable - Gold</td>
                              <td>7,096,000</td>
                              <td>4.9</td>
                              <td>0.55</td>
                              <td>0.93</td>
                              <td>25.3</td>
                            </tr>
                            <tr>
                              <td colspan="6">
                                <strong>Base Metal Zone Reserves</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Proven - Lalor</td>
                              <td>4,406,000</td>
                              <td>2.8</td>
                              <td>5.17</td>
                              <td>0.41</td>
                              <td>30.2</td>
                            </tr>
                            <tr>
                              <td>Proven - 1901</td>
                              <td>1,154,000</td>
                              <td>2.3</td>
                              <td>8.31</td>
                              <td>0.31</td>
                              <td>25.4</td>
                            </tr>
                            <tr>
                              <td>Probable - Lalor</td>
                              <td>649,000</td>
                              <td>1.9</td>
                              <td>4.63</td>
                              <td>0.35</td>
                              <td>35.1</td>
                            </tr>
                            <tr>
                              <td>Probable - 1901</td>
                              <td>264,000</td>
                              <td>0.8</td>
                              <td>11.45</td>
                              <td>0.31</td>
                              <td>28.1</td>
                            </tr>
                            <tr>
                              <td>Total Proven and Probable - Base Metal</td>
                              <td>6,474,000</td>
                              <td>2.5</td>
                              <td>5.93</td>
                              <td>0.38</td>
                              <td>29.8</td>
                            </tr>
                            <tr>
                              <td colspan="6">
                                <strong>Total Gold and Base Metal Zone Reserves</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Proven and Probable – Lalor</td>
                              <td>11,997,000</td>
                              <td>4.0</td>
                              <td>2.46</td>
                              <td>0.70</td>
                              <td>27.8</td>
                            </tr>
                            <tr>
                              <td>Proven and Probable – 1901</td>
                              <td>1,573,000</td>
                              <td>2.1</td>
                              <td>8.12</td>
                              <td>0.40</td>
                              <td>24.8</td>
                            </tr>
                            <tr>
                              <td>
                                <strong>Total Proven and Probable (Gold and Base Metal)</strong>
                              </td>
                              <td>13,570,000</td>
                              <td>3.8</td>
                              <td>3.12</td>
                              <td>0.67</td>
                              <td>27.4</td>
                            </tr>
                            <tr>
                              <td colspan="6">
                                <strong>Gold Zone Resources</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Inferred - Lalor</td>
                              <td>2,979,000</td>
                              <td>4.3</td>
                              <td>0.24</td>
                              <td>1.68</td>
                              <td>25.7</td>
                            </tr>
                            <tr>
                              <td>Inferred - 1901</td>
                              <td>1,605,000</td>
                              <td>5.4</td>
                              <td>0.30</td>
                              <td>0.84</td>
                              <td>16.5</td>
                            </tr>
                            <tr>
                              <td>Total Inferred - Gold</td>
                              <td>4,584,000</td>
                              <td>4.7</td>
                              <td>0.26</td>
                              <td>1.39</td>
                              <td>22.5</td>
                            </tr>
                            <tr>
                              <td colspan="6">
                                <strong>Base Metal Zone Resources</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Inferred - Lalor</td>
                              <td>710,000</td>
                              <td>1.7</td>
                              <td>5.34</td>
                              <td>0.38</td>
                              <td>31.6</td>
                            </tr>
                            <tr>
                              <td>Inferred - 1901</td>
                              <td>334,000</td>
                              <td>1.6</td>
                              <td>5.58</td>
                              <td>0.22</td>
                              <td>30.9</td>
                            </tr>
                            <tr>
                              <td>Total Inferred - Base Metal</td>
                              <td>1,044,000</td>
                              <td>1.7</td>
                              <td>5.42</td>
                              <td>0.33</td>
                              <td>31.4</td>
                            </tr>
                            <tr>
                              <td colspan="6">
                                <strong>Base Metal Zone Resources</strong>
                              </td>
                            </tr>
                            <tr>
                              <td>Inferred – Lalor</td>
                              <td>3,689,000</td>
                              <td>3.6</td>
                              <td>6.28</td>
                              <td>1.69</td>
                              <td>21.8</td>
                            </tr>
                            <tr>
                              <td>Inferred – 1901</td>
                              <td>1,939,000</td>
                              <td>4.8</td>
                              <td>1.21</td>
                              <td>0.74</td>
                              <td>19.0</td>
                            </tr>
                            <tr>
                              <td>
                                <strong>Total Inferred (Gold and Base Metal)</strong>
                              </td>
                              <td>
                                <strong>5,628,000</strong>
                              </td>
                              <td>
                                <strong>4.0</strong>
                              </td>
                              <td>
                                <strong>4.53</strong>
                              </td>
                              <td>
                                <strong>1.36</strong>
                              </td>
                              <td>
                                <strong>20.8</strong>
                              </td>
                            </tr>
                          </tbody>
                        </table>
                      </div>
                      <p>
                        <small>Note: totals may not add up correctly due to rounding.</small><br>
                        <small><sup>1</sup>Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.</small><br>
                        <small><sup>2</sup>Mineral resources do not include factors for mining recovery or dilution.</small><br>
                        <small><sup>3</sup>Base metal mineral resources are estimated based on the assumption that they would be processed at the Stall concentrator while gold mineral resources are estimated based on the assumption that they would be
                          processed at the New Britannia concentrator.</small><br>
                        <small><sup>4</sup>Long-term metal prices of $1,700 per ounce gold, $1.25 per pound zinc, $4.00 per pound copper and $23.00 per ounce silver with an exchange rate of 1.33 C$/US$ were used to confirm the economic viability of
                          the mineral reserve estimates.</small><br>
                        <small><sup>5</sup>Long-term metal prices of $1,900 per ounce gold, $1.25 per pound zinc, $4.00 per pound copper and $23.00 per ounce silver with an exchange rate of 1.33 C$/US$ were used to estimate mineral
                          resources.</small><br>
                        <small><sup>6</sup>Lalor mineral reserves and resources are estimated using NSR cut-off ranging from C$146 to C$173 per tonne assuming a long hole mining method and depending on the mill destination. </small><br>
                        <small><sup>7</sup>Individual stope gold grades at Lalor were capped at 10 grams per tonne. This capping method resulted in an approximate 3% reduction in the overall gold reserve grade at Lalor.</small><br>
                        <small>
                          <sup>8</sup>1901 mineral reserves and resources are estimated using a minimum NSR cut-off of C$166 per tonne. </small>
                      </p>
                      <!-- <div class="table-wide-scroll">
    <table class="table">
        <thead>
              <tr>
                  <th>
                      <h3>Lalor Mine</h3><br><strong> Mineral Reserve and Resource Estimates<sup>1,2,3,4,5,6</sup></strong>
                  </th>
                  <th>
                      <strong>Tonnes</strong>
                  </th>
                  <th>
                      <strong>Zn Grade<br>(%)</strong>
                  </th>
                  <th>
                      <strong>Au Grade<br>(g/t)</strong>
                  </th>
                 
                    <th>
                      <strong>Cu Grade<br>(%)</strong>
                  </th>
 <th>
                      <strong>Ag Grade<br>(g/t)</strong>
                  </th>
              </tr>
          </thead>
          <tbody>
              <tr>
                  <td colspan="6">
                      <strong>Base Metal Zone Reserves</strong>
                  </td>
              </tr>
              <tr>
                  <td>Proven - Lalor</td>
                  <td>6,420,000</td>
                  <td>5.57</td>
                  <td>2.6</td>
                  <td>0.47</td>
                  <td>29.5</td>
              </tr>
              <tr>
                  <td>Proven - 1901</td>
                  <td>1,260,000</td>
                  <td>8.00</td>
                  <td>2.2</td>
                  <td>0.32</td>
                  <td>24.7</td>
              </tr>
              <tr>
                  <td>Probable - Lalor</td>
                  <td>1,300,000</td>
                    <td>4.02</td>
                    <td>3.2</td>
                    <td>0.50</td>
                    <td>32.4</td>
              </tr>
              <tr>
                  <td>Probable - 1901</td>
                  <td>380,000</td>
                    <td>10.01</td>
                    <td>0.7</td>
                    <td>0.29</td>
                    <td>31.0</td>
              </tr>
              <tr>
                <td>Total Proven and Probable - Base Metal</td>
                <td>9,360,000</td>
                <td>5.86</td>
                <td>2.6</td>
                <td>0.45</td>
                <td>29.3</td>
            </tr>
              <tr>
                  <td colspan="6"><strong>Gold Zone Reserves</strong></td>
              </tr>
              <tr>
                  <td>Proven - Lalor</td>
                  <td>3,590,000</td>
                    <td>0.82</td>
                    <td>5.9</td>
                    <td>0.62</td>
                    <td>28.5</td>
              </tr>
              <tr>
                <td>Proven - 1901</td>
                <td>50,000</td>
                <td>1.22</td>
                <td>3.8</td>
                <td>0.78</td>
                <td>18.7</td>
            </tr>
              <tr>
                  <td>Probable - Lalor</td>
                  <td>4,190,000</td>
                  <td>0.53</td>
                  <td>5.1</td>
                  <td>1.05</td>
                  <td>27.9</td>
              </tr>
              <tr>
                <td>Probable - 1901</td>
                <td>20,000</td>
                <td>0.51</td>
                <td>1.6</td>
                <td>1.89</td>
                <td>5.3</td>
            </tr>
            <tr>
                <td>Total Proven and Probable - Gold</td>
                <td>7,850,000</td>
                <td>0.67</td>
                <td>5.4</td>
                <td>0.85</td>
                <td>28.1</td>
            </tr>
              <tr>
                  <td>
                      <strong>Total Proven and Probable (Base Metal and Gold)</strong>
                  </td>
                  <td>
                    <strong>17,200,000</strong>
                </td>
                <td>
                    <strong>3.50</strong>
                </td>
                <td>
                    <strong>3.9</strong>
                </td>
                <td>
                    <strong>0.64</strong>
                </td>
                <td>
                    <strong>28.7</strong>
                </td>
              </tr>
              <tr>
                  <td colspan="6">
                      <strong>Base Metal Zone Resources</strong>
                  </td>
              </tr>
              <tr>
                  <td>Inferred - Lalor</td>
                  <td>1,960,000</td>
                  <td>5.72</td>
                  <td>1.5</td>
                  <td>0.31</td>
                  <td>30.4</td>
              </tr>
              <tr>
                  <td>Inferred - 1901</td>
                  <td>670,000</td>
                    <td>6.04</td>
                    <td>1.4</td>
                    <td>0.22</td>
                    <td>27.8</td>
                </tr>
                <tr>
                    <td>Total Inferred - Base Metal</td>
                    <td>2,630,000</td>
                      <td>5.80</td>
                      <td>1.5</td>
                      <td>0.29</td>
                      <td>29.7</td>
                  </tr>
              
              <tr>
                  <td colspan="6">
                      <strong>Gold Zone Resources</strong>
                  </td>
              </tr>
              <tr>
                  <td>Inferred - Lalor</td>
                  <td>4,170,000</td>
                    <td>0.28</td>
                    <td>5.1</td>
                    <td>1.56</td>
                    <td>29.0</td>
              </tr>
              <tr>
                  <td>Inferred - 1901</td>
                    <td>1,260,000</td>
                    <td>0.39</td>
                    <td>4.9</td>
                    <td>1.49</td>
                    <td>20.8</td>
              </tr>
              <tr>
                <td>Total Inferred - Gold</td>
                <td>5,430,000</td>
                  <td>0.31</td>
                  <td>5.1</td>
                  <td>1.54</td>
                  <td>27.1</td>
              </tr>
              <tr>
                  <td>
                      <strong>Total Inferred (Base Metal and Gold)</strong>
                  </td>
                  <td>
                    <strong>8,060,000</strong>
                </td>
                <td>
                    <strong>2.10</strong>
                </td>
                <td>
                    <strong>3.9</strong>
                </td>
                <td>
                    <strong>1.13</strong>
                </td>
                <td>
                    <strong>28.0</strong>
                </td>
              </tr>
          </tbody>
    </table>
</div>
<div class="table-legend">
    <p><small>Note: totals may not add up correctly due to rounding.</small><br>
        <small><sup>1</sup> Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.</small><br>
          <small><sup>2</sup> Mineral resources do not include factors for mining recovery or dilution.</small><br>
          <small><sup>3</sup> Base metal mineral resources are estimated based on the assumption that they would be processed at the Stall concentrator while gold mineral resources are estimated based on the assumption that they would be processed at the New Britannia concentrator.</small><br><small><sup>4</sup> Long-term metal prices of $1.15 per pound zinc, $1,500 per ounce gold, $3.45 per pound copper, and $20.00 per ounce silver with an exchange rate of 1.30 C$/US$ were used to estimate mineral reserves and resources.</small><br><small><sup>5</sup> Lalor mineral reserves and resources are estimated using a minimum NSR cut-off of C$117 per tonne for waste filled mining areas and a minimum of C$127 per tonne for paste filled mining areas. </small><br><small><sup>6</sup> Individual stope gold grades at Lalor were capped at 10 grams per tonne as a prudent estimate until reserves-to-mill reconciliations can be developed to support the recovery of higher-grade gold. This capping method resulted in an approximate 3% reduction in the overall gold reserve grade at Lalor.</small><br><small><sup>7</sup> 1901 mineral reserves and resources are estimated using a minimum NSR cut-off of C$110 per tonne.</small>
        </p>

</div> -->
                    </div>
                  </div>
                </div>
              </span><span class="ContentPaneDiv11">
                <div id="_ctrl0_ctl84_divModuleContainer" class="module module-html module-panel-full module-border-bottom to-animate">
                  <div class="module_container module_container--outer">
                    <h2 id="_ctrl0_ctl84_lblTitle" class="module_title"><span id="_ctrl0_ctl84_lblModuleTitle" class="ModuleTitle">Reserves and Resources – snow lake region</span></h2>
                    <div class="module_container module_container--inner">
                      <h3>Current mineral reserves and resources as of January 1, 2024</h3>
                      <div class="module--thin-top to-animate">
                        <div class="table-wide-scroll">
                          <table class="table">
                            <thead>
                              <tr>
                                <th>
                                  <h3>Snow Lake Regional Deposits - Gold</h3>
                                  <strong><br>Mineral Reserve and Resource Estimates<sup>1,2,3,4,5,6,7</sup></strong>
                                </th>
                                <!-- <th>
                  <strong>Category</strong>
              </th> -->
                                <th>
                                  <strong>Tonnes</strong>
                                </th>
                                <th>
                                  <strong>Au Grade<br>(g/t)</strong>
                                </th>
                                <th>
                                  <strong>Zn Grade<br>(%)</strong>
                                </th>
                                <th>
                                  <strong>Cu Grade<br>(%)</strong>
                                </th>
                                <!-- <th>
                  <strong>Au (g/t)</strong>
              </th> -->
                                <th>
                                  <strong>Ag Grade<br>(g/t)</strong>
                                </th>
                              </tr>
                            </thead>
                            <tbody>
                              <tr>
                                <td colspan="6">
                                  <strong>Probable Reserves </strong>
                                </td>
                              </tr>
                              <tr>
                                <td>WIM</td>
                                <!-- <td>Indicated</td> -->
                                <td>2,450,000</td>
                                <td>1.6</td>
                                <td>0.25</td>
                                <td>1.63</td>
                                <td>6.3</td>
                              </tr>
                              <tr>
                                <td>3 Zone</td>
                                <!-- <td>Inferred</td> -->
                                <td>660,000</td>
                                <td>4.2</td>
                                <td>-</td>
                                <td>-</td>
                                <td>-</td>
                              </tr>
                              <tr>
                                <td>
                                  <strong>Total Probable (Gold) </strong>
                                </td>
                                <td>
                                  <strong>3,110,000</strong>
                                </td>
                                <td>
                                  <strong>2.2</strong>
                                </td>
                                <td>
                                  <strong>0.20</strong>
                                </td>
                                <td>
                                  <strong>1.28</strong>
                                </td>
                                <td>
                                  <strong>5.0</strong>
                                </td>
                              </tr>
                              <tr>
                                <td colspan="6">
                                  <strong>Inferred Resources </strong>
                                </td>
                              </tr>
                              <tr>
                                <td>New Britannia</td>
                                <!-- <td>Inferred</td> -->
                                <td>2,750,000</td>
                                <td>4.5</td>
                                <td>-</td>
                                <td>-</td>
                                <td>-</td>
                              </tr>
                              <tr>
                                <td>Birch</td>
                                <!-- <td>Indicated</td> -->
                                <td>570,000</td>
                                <td>4.4</td>
                                <td>-</td>
                                <td>-</td>
                                <td>-</td>
                              </tr>
                              <tr>
                                <td><strong>Total Inferred (Gold)</strong></td>
                                <!-- <td>Inferred (Gold)</td> -->
                                <td><strong>3,320,000</strong></td>
                                <td><strong>4.5</strong></td>
                                <td><strong>-</strong></td>
                                <td><strong>-</strong></td>
                                <td><strong>-</strong></td>
                              </tr>
                            </tbody>
                          </table>
                        </div>
                        <p>
                          <small>Note: totals may not add up correctly due to rounding.</small><br>
                          <small><sup>1</sup>Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.</small><br>
                          <small><sup>2</sup>Mineral resources do not include factors for mining recovery or dilution.</small><br>
                          <small><sup>3</sup>Gold mineral resources are estimated based on the assumption that they would be processed at the New Britannia concentrator.</small><br>
                          <small><sup>4</sup>Long-term metal prices of $1,700 per ounce gold, $1.25 per pound zinc, $4.00 per pound copper and $23.00 per ounce silver with an exchange rate of 1.33 C$/US$ were used to confirm the economic viability of
                            the mineral reserve estimates.</small><br>
                          <small><sup>5</sup>WIM mineral reserves assume processing recoveries of 98% for copper, 88% for gold, and 70% for silver based on processing through New Britannia's flotation and tails leach circuits.</small><br>
                          <small><sup>6</sup>3 Zone mineral reserves assume processing recoveries of 85% for gold based on processing through New Britannia's leach circuit.</small><br>
                          <small><sup>7</sup>New Britannia mineral resource estimates have been reported at a minimum true width of 1.5 metres and with a cut-off grade varying from 2 grams per tonne (at the lower part of New Britannia) to 3.5 grams
                            per tonne (at the upper part of New Britannia).</small>
                          <!-- <small
      ><sup>8</sup> Mineral reserves and resources were initially estimated
      using metal price assumptions that vary marginally over the assumptions
      used to estimate mineral reserves at Lalor. In the Qualified Person’s
      opinion, the combined impact of these small variations does not have any
      impact on the mineral reserve and resource estimates.</small
    > -->
                        </p>
                        <!-- <h3>Current mineral resources for the Snow Lake regional deposits as of January 1, 2019 are summarized below.</h3> -->
                        <!-- <div class="table-wide-scroll">
        <table class="table">
            <thead>
              <tr>
                  <th>
                      <h3>Snow Lake Regional Deposits - Gold</h3><strong><br>Mineral Reserve and Resource
                          Estimates<sup>1,2,3,4,5,6,7,8</sup></strong>
                  </th> -->
                        <!-- <th>
                      <strong>Category</strong>
                  </th> -->
                        <!-- <th>
                      <strong>Tonnes</strong>
                  </th>
                  <th>
                      <strong>Zn Grade(%)</strong>
                  </th>
                  <th>
                      <strong>Au Grade<br>(g/t)</strong>
                  </th>
                  <th>
                      <strong>Cu Grade (%)</strong>
                  </th> -->
                        <!-- <th>
                      <strong>Au (g/t)</strong>
                  </th> -->
                        <!-- <th><strong>Ag Grade (g/t)</strong></th>
              </tr>
          </thead>
          <tbody>
              <tr>
                  <td colspan="6">
                      <strong>Probable Reserves </strong>
                  </td>
              </tr>
              <tr>
                  <td>WIM</td> -->
                        <!-- <td>Indicated</td> -->
                        <!-- <td>2,450,000</td>
                  <td>0.25</td>
                  <td>1.6</td>
                  <td>1.63</td>
                  <td>6.3</td>
              </tr>
              <tr>
                  <td>3 Zone</td> -->
                        <!-- <td>Inferred</td> -->
                        <!-- <td>660,000</td>
                  <td>-</td>
                  <td>4.2</td>
                  <td>-</td>
                  <td>-</td>
              </tr>
              <tr>
                  <td>
                      <strong>Total Probable (Gold) </strong>
                  </td>
                  <td>
                      <strong>3,110,000</strong>
                  </td>
                  <td>
                      <strong>0.20</strong>
                  </td>
                  <td>
                      <strong>2.2</strong>
                  </td>
                  <td>
                      <strong>1.28</strong>
                  </td>
                  <td>
                      <strong>5.0</strong>
                  </td>
              </tr>
              <tr>
                  <td colspan="6">
                      <strong>Inferred Resources<sup>2</sup> </strong>
                  </td>
              </tr>
              <tr>
                  <td>Birch</td> -->
                        <!-- <td>Indicated</td> -->
                        <!-- <td>570,000</td>
                  <td>-</td>
                  <td>4.4</td>
                  <td>-</td>
                  <td>-</td>
              </tr>
              <tr>
                  <td>New Britannia</td> -->
                        <!-- <td>Inferred</td> -->
                        <!-- <td>2,750,000</td>
                  <td>-</td>
                  <td>4.5</td>
                  <td>-</td>
                  <td>-</td>
              </tr>
              <tr>
                  <td><strong>Total Inferred (Gold)</strong></td> -->
                        <!-- <td>Inferred (Gold)</td> -->
                        <!-- <td><strong>3,320,000</strong></td>
                  <td>-</td>
                  <td><strong>4.5</strong></td>
                  <td>-</td>
                  <td>-</td>
              </tr>
          </tbody>
        </table>
    </div>
    <p><small>Note: totals may not add up correctly due to rounding.</small><br>
  <small><sup>1</sup> Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.</small><br>
    <small><sup>2</sup> Mineral resources in the above tables do not include mining dilution or recovery factors.</small><br>
    <small><sup>3</sup>  Gold mineral resources are estimated based on the assumption that they would be processed at the New Britannia concentrator.</small><br>
    <small><sup>4</sup> Long-term metal prices of $1.15 per pound zinc, $1,500 per ounce gold, $3.45 per pound copper, and $20.00 per ounce silver with an exchange rate of 1.30 C$/US$ were used to confirm the economic viability of the mineral reserve estimates.</small><br>
    <small><sup>5</sup> WIM mineral reserves are estimated using a minimum NSR cut-off of C$150 per tonne, assuming processing recoveries of 98% for copper, 88% for gold and 70% for silver based on processing through New Britannia mill's flotation and tails leach circuits.</small><br>
    <small><sup>6</sup>3 Zone mineral reserves are estimated using a minimum NSR cut-off of C$150 per tonne, assuming processing recoveries of 85% for gold based on processing through New Britannia mill's leach circuit.</small><br>
    <small><sup>7</sup>New Britannia mineral resource estimates have been reported at a minimum true width of 1.5 metres and with a cut-off grade varying from 2 grams per tonne (at the lower part of New Britannia) to 3.5 grams per tonne (at the upper part of New Britannia).</small><br>
    <small><sup>8</sup>Mineral reserves and resources were initially estimated using metal price assumptions that vary marginally over the assumptions used to estimate mineral reserves at Lalor. In the Qualified Person’s opinion, the combined impact of these small variations does not have any impact on the mineral reserve and resource estimates</small>
  </p> -->
                        <!-- <p><small><sup>3</sup> New Britannia mineral resource estimates have been reported at a minimal true width of 1.5 metres and with a cut-off grade varying from 2 grams per tonne (at the 3 Zone and the lower part of New Britannia zone) to 3.3 grams per tonne (at Birch and for the upper part of New Britannia zone).</small></p> -->
                      </div>
                      <div class="module--thin-top to-animate snow-lake">
                        <div class="table-wide-scroll">
                          <table class="table">
                            <thead>
                              <tr>
                                <th>
                                  <h3>Snow Lake Regional Deposits - Base Metals</h3>
                                  <strong><br>Mineral Reserve and Resource Estimates<sup>1,2,3,4,5,6,7</sup></strong>
                                </th>
                                <!-- <th>
                  <strong>Category</strong>
              </th> -->
                                <th>
                                  <strong>Tonnes</strong>
                                </th>
                                <th>
                                  <strong>Au Grade<br>(g/t)</strong>
                                </th>
                                <th>
                                  <strong>Zn Grade<br>(%)</strong>
                                </th>
                                <th>
                                  <strong>Cu Grade<br>(%)</strong>
                                </th>
                                <th>
                                  <strong>Ag Grade<br>(g/t)</strong>
                                </th>
                              </tr>
                            </thead>
                            <tbody>
                              <tr>
                                <td colspan="6">
                                  <strong>Indicated Resources</strong>
                                </td>
                              </tr>
                              <tr>
                                <td>Pen II</td>
                                <!-- <td>Indicated</td> -->
                                <td>470,000</td>
                                <td>0.3</td>
                                <td>8.89</td>
                                <td>0.49</td>
                                <td>6.8</td>
                              </tr>
                              <tr>
                                <td>Talbot</td>
                                <td>2,190,000</td>
                                <td>2.1</td>
                                <td>1.79</td>
                                <td>2.33</td>
                                <td>36.0</td>
                              </tr>
                              <tr>
                                <td><strong>Total Indicated (Base Metals)</strong></td>
                                <!-- <td>Inferred (Gold)</td> -->
                                <td><strong>2,660,000</strong></td>
                                <td><strong>1.8</strong></td>
                                <td><strong>3.04</strong></td>
                                <td><strong>2.01</strong></td>
                                <td><strong>30.9</strong></td>
                              </tr>
                              <tr>
                                <td colspan="6">
                                  <strong>Inferred Resources</strong>
                                </td>
                              </tr>
                              <!-- <tr>
              <td>1901</td>
              <td>2,065,000</td>
              <td>0.25</td>
              <td>9.67</td>
              <td>0.87</td>
              <td>30.3</td>
          </tr> -->
                              <tr>
                                <td>Watts</td>
                                <!-- <td>Inferred</td> -->
                                <td>3,150,000</td>
                                <td>1.0</td>
                                <td>2.58</td>
                                <td>2.34</td>
                                <td>31.0</td>
                              </tr>
                              <tr>
                                <td>Pen II</td>
                                <!-- <td>Inferred</td> -->
                                <td>130,000</td>
                                <td>0.3</td>
                                <td>9.81</td>
                                <td>0.37</td>
                                <td>6.8</td>
                              </tr>
                              <tr>
                                <td>Talbot</td>
                                <td>2,450,000</td>
                                <td>1.9</td>
                                <td>1.74</td>
                                <td>1.13</td>
                                <td>25.8</td>
                              </tr>
                              <tr>
                                <td>
                                  <strong>Total Inferred (Base Metals) </strong>
                                </td>
                                <td>
                                  <strong>5,730,000</strong>
                                </td>
                                <td>
                                  <strong>1.3</strong>
                                </td>
                                <td>
                                  <strong>2.39</strong>
                                </td>
                                <td>
                                  <strong>1.78</strong>
                                </td>
                                <td>
                                  <strong>28.3</strong>
                                </td>
                              </tr>
                            </tbody>
                          </table>
                        </div>
                        <p>
                          <small> Note: totals may not add up correctly due to rounding.</small><br>
                          <small><sup>1</sup>Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.</small><br>
                          <small><sup>2</sup>Mineral resources do not include factors for mining recovery or dilution.</small><br>
                          <small><sup>3</sup>Base metal mineral resources are estimated based on the assumption that they would be processed at the Stall concentrator.</small><br>
                          <small><sup>4</sup>Watts and Pen II mineral resources were initially estimated using metal price assumptions that vary marginally over the assumptions used to estimate mineral resources at Lalor. In the Qualified Person’s
                            opinion, the combined impact of these small variations does not have any impact on the mineral resource estimates.</small><br>
                          <small><sup>5</sup>Watts mineral resources are estimated using a minimum NSR cut-off of C$150 per tonne, assuming processing recoveries of 90% for copper, 80% for zinc, 70% for gold and 70% for silver.</small><br>
                          <small><sup>6</sup>Pen II mineral resources are estimated using a minimum NSR cut-off of C$75 per tonne.</small><br>
                          <small><sup>7</sup>The above resource estimates table includes 100% of the Talbot mineral resources reported by Rockcliff Metals Corp. in its 2020 NI 43-101 technical report published on SEDAR+. </small>
                        </p>
                      </div>
                      <!-- <h3>Current mineral resources for the Snow Lake regional deposits as of January 1, 2019 are summarized below.</h3> -->
                      <!-- <div class="table-wide-scroll">
        <table class="table">
             <thead>
              <tr>
                  <th>
                      <h3>Snow Lake Regional Deposits - Base Metals</h3><strong><br>Mineral Reserve and Resource
                          Estimates<sup>1,2,3,4,5,6,7</sup></strong>
                  </th> -->
                      <!-- <th>
                      <strong>Category</strong>
                  </th> -->
                      <!-- <th>
                      <strong>Tonnes</strong>
                  </th>
                  <th>
                      <strong>Zn (%)</strong>
                  </th>
                  <th>
                      <strong>Au Grade(g/t)</strong>
                  </th>
                  <th>
                      <strong>Cu Grade(%)</strong>
                  </th>
                  <th><strong>Ag Grade(g/t)</strong></th>
              </tr>
          </thead>
          <tbody>
              <tr>
                  <td colspan="6">
                      <strong>Indicated Resources</strong>
                  </td>
              </tr>
              <tr>
                  <td>Pen II</td> -->
                      <!-- <td>Indicated</td> -->
                      <!-- <td>470,000</td>
                  <td>8.89</td>
                  <td>0.3</td>
                  <td>0.49</td>
                  <td>7</td>
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              <tr>
                  <td>Talbot</td>
                  <td>2,190,000</td>
                  <td>1.79</td>
                  <td>2.1</td>
                  <td>2.33</td>
                  <td>36</td>
              </tr>
              <tr>
                  <td><strong>Total Indicated (Base Metals)</strong></td> -->
                      <!-- <td>Inferred (Gold)</td> -->
                      <!-- <td><strong>2,660,000</strong></td>
                  <td><strong>3.04</strong></td>
                  <td><strong>1.8</strong></td>
                  <td><strong>2.01</strong></td>
                  <td><strong>31</strong></td>
              </tr>
              <tr>
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                      <strong>Inferred Resources</strong>
                  </td>
              </tr> -->
                      <!-- <tr>
                  <td>1901</td>
                  <td>2,065,000</td>
                  <td>0.25</td>
                  <td>9.67</td>
                  <td>0.87</td>
                  <td>30.3</td>
              </tr> -->
                      <!-- <tr>
                  <td>Watts</td> -->
                      <!-- <td>Inferred</td> -->
                      <!-- <td>3,150,000</td>
                  <td>2.58</td>
                  <td>1.0</td>
                  <td>2.34</td>
                  <td>31</td>
              </tr>
              <tr>
                  <td>Pen II</td> -->
                      <!-- <td>Inferred</td> -->
                      <!-- <td>130,000</td>
                  <td>9.81</td>
                  <td>0.3</td>
                  
                  <td>0.37</td>
                  <td>7</td>
              </tr>
               <tr>
                  <td>Talbot</td>
                  <td>2,450,000</td>
                  <td>1.74</td>
                  <td>1.9</td>
                  <td>1.13</td>
                  <td>26</td>
              </tr>
              <tr>
                  <td>
                      <strong>Total Inferred (Base Metals) </strong>
                  </td>
                  <td>
                      <strong>5,730,000</strong>
                  </td>
                  <td>
                      <strong>2.39</strong>
                  </td>
                  <td>
                      <strong>1.3</strong>
                  </td>
                  <td>
                      <strong>1.78</strong>
                  </td>
                  <td>
                      <strong>28</strong>
                  </td>
              </tr>

          </tbody>
        </table>
    </div>
    <p><small> Note: totals may not add up correctly due to rounding.</small><br>
  <small><sup>1</sup> Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.
      </small><br>
      <small><sup>2</sup>Mineral resources in the above tables do not include mining dilution or recovery factors.
      </small><br>
      <small><sup>3</sup> Base metal mineral resources are estimated based on the assumption that they would be processed at the Stall concentrator.
      </small><br>
<small><sup>4</sup> Watts mineral resources are estimated using a minimum NSR cut-off of C$150 per tonne, assuming processing recoveries of 90% for copper, 80% for zinc, 70% for gold and 70% for silver.
      </small><br>
      <small><sup>5</sup> Pen II mineral resources are estimated using a minimum NSR cut-off of C$75 per tonne.
      </small><br>
       <small><sup>6</sup> Watts and Pen II mineral resources were initially estimated using metal price assumptions that vary marginally over the assumptions used to estimate mineral resources at Lalor. In the Qualified Person’s opinion, the combined impact of these small variations does not have any impact on the mineral resource estimates.
      </small><br>
       <small><sup>7</sup> Includes 100% of the Talbot mineral resources reported by Rockcliff Metals Corp. in its 2020 NI 43-101 technical report published on SEDAR. Hudbay currently owns a 51% interest in the Talbot project.
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CANADA


COPPER MOUNTAIN

PRIMARY METALS

Copper, Gold,
Silver

DAILY MILL CAPACITY

45,000 tonnes

MINE TYPE

Open Pit


SNOW LAKE

PRIMARY METALS

Gold, Zinc,
Copper

DAILY MILL CAPACITY

5,300 tonnes

MINE TYPE

Underground

 * Why Copper
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 * Canada
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 * Disclosure Centre
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With close to 100 years of history, Hudbay is proud to be the third-largest
copper producer in Canada with operations in British Columbia and Manitoba.

Our Canadian business can trace its history back almost a century, to our first
mines in Manitoba’s Flin Flon Snow Lake Greenstone Belt. It was there we laid
the foundation for the mine-building expertise and community engagement that
distinguish Hudbay to this day. Our operational focus in Canada, with two
operating mines in British Columbia and Manitoba, is core to our ability to
create sustainable long-term value for shareholders.

With the addition of the Copper Mountain Mine, Hudbay has become the
third-largest copper producer in Canada. The Copper Mountain Mine, located south
of Princeton, British Columbia, is a conventional open pit, truck and shovel
operation. Hudbay owns 75% of the Copper Mountain Mine, with the remainder owned
by Mitsubishi Materials Corporation. The mine has a 45,000 tonnes per day plant
that utilizes a conventional crushing, grinding and flotation circuit to produce
copper concentrates with gold and silver credits.

Manitoba’s Snow Lake region continues to be an area of opportunity as our
reserves, processing capacity and exploration activities expand in the region,
setting the stage for a new phase of growth. Our Lalor mine (gold, zinc, copper,
silver) in Snow Lake is a meaningful low-cost gold producer that substantially
benefited from the refurbishment of the New Britannia mill in 2021. Hudbay has
been actively conducting drilling activities testing the down-plunge gold and
copper extensions of the Lalor deposit, in the first step out drilling in the
deeper zones at Lalor since the initial discovery of the gold zones in 2009.

NUMBER OF EMPLOYEES

COPPER MOUNTAIN

547



SNOW LAKE

933

MINE LIFE

COPPER MOUNTAIN

+20 years



SNOW LAKE

+15 years
The electricity used to run our processing plants is primarily renewable.



SNOW LAKE 2023 PERFORMANCE (CONTAINED METAL IN CONCENTRATE PRODUCED)

COPPER:

12,154 tonnes

ZINC:

34,642 tonnes

GOLD & DORÉ:

187,363 ounces

SILVER:

851,723ounces



SNOW LAKE 2024 GUIDANCE (CONTAINED METAL IN CONCENTRATE)

COPPER:

9,000 - 12,000 tonnes

ZINC:

27,000 - 35,000 tonnes

GOLD & DORÉ:

170,000 - 200,000 ounces

SILVER:

750,000 - 1,000,000 ounces



COPPER MOUNTAIN 2023 PERFORMANCE (CONTAINED METAL IN CONCENTRATE PRODUCED)
NOTE: INCLUDES 100% OF COPPER MOUNTAIN PRODUCTION SINCE JUNE 20, 2023
ACQUISITION DATE.

COPPER:

19,050 tonnes

GOLD:

8,848 ounces

SILVER:

218,282 ounces



COPPER MOUNTAIN 2024 GUIDANCE(CONTAINED METAL IN CONCENTRATE)

COPPER:

30,000 - 44,000 tonnes

GOLD:

17,000 - 26,000 ounces

SILVER:

300,000 - 455,000 ounces



ENVIRONMENT

We take environmental performance seriously, and are implementing the Mining
Association of Canada’s TSM (Towards Sustainable Mining) protocols for
Biodiversity, Energy and Greenhouse Gas and Tailings at all of our operations.
These protocols provide clear guidelines for monitoring, measuring and reporting
on performance. They emphasize management processes, senior executive oversight
and expert third-party reviews, which help to ensure appropriate technical
standards of construction, maintenance and operation.

AAA Rating
Attained for tailings management in the latest TSM Progress Report


COMMUNITY

Hudbay didn’t just build a successful business in northern Manitoba – it helped
build successful communities like the city of Flin Flon. We recognize and
acknowledge the land on which we will operate in Manitoba is on the traditional
territory of the Swampy Cree and Woodland Cree, the Anishinaabe, OjiCree, Dene
and homeland of the Métis Nation peoples.

We acknowledge that we operate in British Columbia on the unceded territories of
the Upper and Lower Similkameen Indian Bands. Copper Mountain has participation
agreements in place with the Upper Similkameen Indian Band and the Lower
Similkameen Indian Band as well as support from the town of Princeton and the
province of British Columbia.

Through jobs, business opportunities, taxes and royalties, community development
programs and infrastructure investments, we support and advance long-term
socio-economic development. Developing job skills within indigenous communities
not only helps the communities; it also benefits Hudbay by growing the base from
which we hire and increasing the number of qualified suppliers from which we
procure goods and services.

15%
Of our employees in British Columbia self-identify as indigenous
14%
Of our employees in Manitoba self-identify as indigenous


PEOPLE

We recognize that employing people with different backgrounds, experiences and
perspectives makes us stronger and fosters collaboration. In Manitoba, we
partnered with the Northern Manitoba Sector Council to increase recruitment of
indigenous employees. Twelve people have been hired under the program so far.
Separately, two women in our Manitoba Business Unit founded the Hudbay Women’s
Network, an employee-led voluntary resource group. The group’s founding
principle is gender inclusion and its goal is to empower Hudbay employees by
providing a vehicle for professional growth and a strong voice. To learn more,
please visit: Hudbay Women’s Network: Fostering Gender Diversity in Mining.

18%
Of our employees in British Columbia are female
18%
Of our employees in Manitoba are female


RESERVES AND RESOURCES – COPPER MOUNTAIN


CURRENT MINERAL RESERVE AND RESOURCE AS OF JANUARY 1, 2024


COPPER MOUNTAIN MINE


Mineral Reserve and Resource Estimates1,2,3,4,5,6 Tonnes Cu Grade
(%) Au Grade
(g/t) Ag Grade
(g/t) Reserves Proven 195,000,000 0.27 0.12 0.8 Probable 172,000,000 0.22 0.11
0.6 Total Proven and Probable 367,000,000 0.25 0.12 0.7 Resources Measured
41,000,000 0.21 0.09 0.7 Indicated 97,000,000 0.21 0.11 0.7 Total Measured and
Indicated 138,000,000 0.21 0.10 0.7 Inferred 371,000,000 0.25 0.13 0.6

Note: totals may not add up correctly due to rounding.
1Mineral resource estimates are exclusive of mineral reserves. Mineral resources
are not mineral reserves as they do not have demonstrated economic viability.
2Mineral reserves are reported using an NSR cut-off value of $5.67 per tonne
that meets a minimum 0.10% copper grade.
3Long term metal prices of $4.00 per pound copper, $1,700 per ounce gold and
$23.00 per ounce silver were used to confirm the economic viability of the
mineral reserve estimates.
4 Long term metal prices of $4.00 per pound copper, $1,650 per ounce gold and
$22.00 per ounce silver were used to estimate mineral resources.
5Mineral resource estimate tonnes and grades constrained to a Lerch Grossman
revenue factor 1 pit shell.
6Mineral reserve and resource estimates presented on a 100% basis. Hudbay holds
a 75% interest in the Copper Mountain mine.


RESERVES AND RESOURCES – LALOR


CURRENT MINERAL RESERVES AND RESOURCES AS OF JANUARY 1, 2024


LALOR MINE AND 1901 DEPOSIT


Mineral Reserve and Resource Estimates1,2,3,4,5,6,7,8 Tonnes Au Grade
(g/t) Zn Grade
(%) Cu Grade
(%) Ag Grade
(g/t) Gold Zone Reserves Proven - Lalor 3,263,000 5.5 0.73 0.59 29.6 Proven -
1901 102,000 2.8 1.33 1.00 19.2 Probable - Lalor 3,678,000 4.5 0.37 1.22 22.1
Probable - 1901 52,000 1.7 0.44 1.88 5.4 Total Proven and Probable - Gold
7,096,000 4.9 0.55 0.93 25.3 Base Metal Zone Reserves Proven - Lalor 4,406,000
2.8 5.17 0.41 30.2 Proven - 1901 1,154,000 2.3 8.31 0.31 25.4 Probable - Lalor
649,000 1.9 4.63 0.35 35.1 Probable - 1901 264,000 0.8 11.45 0.31 28.1 Total
Proven and Probable - Base Metal 6,474,000 2.5 5.93 0.38 29.8 Total Gold and
Base Metal Zone Reserves Proven and Probable – Lalor 11,997,000 4.0 2.46 0.70
27.8 Proven and Probable – 1901 1,573,000 2.1 8.12 0.40 24.8 Total Proven and
Probable (Gold and Base Metal) 13,570,000 3.8 3.12 0.67 27.4 Gold Zone Resources
Inferred - Lalor 2,979,000 4.3 0.24 1.68 25.7 Inferred - 1901 1,605,000 5.4 0.30
0.84 16.5 Total Inferred - Gold 4,584,000 4.7 0.26 1.39 22.5 Base Metal Zone
Resources Inferred - Lalor 710,000 1.7 5.34 0.38 31.6 Inferred - 1901 334,000
1.6 5.58 0.22 30.9 Total Inferred - Base Metal 1,044,000 1.7 5.42 0.33 31.4 Base
Metal Zone Resources Inferred – Lalor 3,689,000 3.6 6.28 1.69 21.8 Inferred –
1901 1,939,000 4.8 1.21 0.74 19.0 Total Inferred (Gold and Base Metal) 5,628,000
4.0 4.53 1.36 20.8

Note: totals may not add up correctly due to rounding.
1Mineral resources are exclusive of mineral reserves and do not have
demonstrated economic viability.
2Mineral resources do not include factors for mining recovery or dilution.
3Base metal mineral resources are estimated based on the assumption that they
would be processed at the Stall concentrator while gold mineral resources are
estimated based on the assumption that they would be processed at the New
Britannia concentrator.
4Long-term metal prices of $1,700 per ounce gold, $1.25 per pound zinc, $4.00
per pound copper and $23.00 per ounce silver with an exchange rate of 1.33
C$/US$ were used to confirm the economic viability of the mineral reserve
estimates.
5Long-term metal prices of $1,900 per ounce gold, $1.25 per pound zinc, $4.00
per pound copper and $23.00 per ounce silver with an exchange rate of 1.33
C$/US$ were used to estimate mineral resources.
6Lalor mineral reserves and resources are estimated using NSR cut-off ranging
from C$146 to C$173 per tonne assuming a long hole mining method and depending
on the mill destination.
7Individual stope gold grades at Lalor were capped at 10 grams per tonne. This
capping method resulted in an approximate 3% reduction in the overall gold
reserve grade at Lalor.
81901 mineral reserves and resources are estimated using a minimum NSR cut-off
of C$166 per tonne.


RESERVES AND RESOURCES – SNOW LAKE REGION


CURRENT MINERAL RESERVES AND RESOURCES AS OF JANUARY 1, 2024


SNOW LAKE REGIONAL DEPOSITS - GOLD


Mineral Reserve and Resource Estimates1,2,3,4,5,6,7 Tonnes Au Grade
(g/t) Zn Grade
(%) Cu Grade
(%) Ag Grade
(g/t) Probable Reserves WIM 2,450,000 1.6 0.25 1.63 6.3 3 Zone 660,000 4.2 - - -
Total Probable (Gold) 3,110,000 2.2 0.20 1.28 5.0 Inferred Resources New
Britannia 2,750,000 4.5 - - - Birch 570,000 4.4 - - - Total Inferred (Gold)
3,320,000 4.5 - - -

Note: totals may not add up correctly due to rounding.
1Mineral resources are exclusive of mineral reserves and do not have
demonstrated economic viability.
2Mineral resources do not include factors for mining recovery or dilution.
3Gold mineral resources are estimated based on the assumption that they would be
processed at the New Britannia concentrator.
4Long-term metal prices of $1,700 per ounce gold, $1.25 per pound zinc, $4.00
per pound copper and $23.00 per ounce silver with an exchange rate of 1.33
C$/US$ were used to confirm the economic viability of the mineral reserve
estimates.
5WIM mineral reserves assume processing recoveries of 98% for copper, 88% for
gold, and 70% for silver based on processing through New Britannia's flotation
and tails leach circuits.
63 Zone mineral reserves assume processing recoveries of 85% for gold based on
processing through New Britannia's leach circuit.
7New Britannia mineral resource estimates have been reported at a minimum true
width of 1.5 metres and with a cut-off grade varying from 2 grams per tonne (at
the lower part of New Britannia) to 3.5 grams per tonne (at the upper part of
New Britannia).


SNOW LAKE REGIONAL DEPOSITS - BASE METALS


Mineral Reserve and Resource Estimates1,2,3,4,5,6,7 Tonnes Au Grade
(g/t) Zn Grade
(%) Cu Grade
(%) Ag Grade
(g/t) Indicated Resources Pen II 470,000 0.3 8.89 0.49 6.8 Talbot 2,190,000 2.1
1.79 2.33 36.0 Total Indicated (Base Metals) 2,660,000 1.8 3.04 2.01 30.9
Inferred Resources Watts 3,150,000 1.0 2.58 2.34 31.0 Pen II 130,000 0.3 9.81
0.37 6.8 Talbot 2,450,000 1.9 1.74 1.13 25.8 Total Inferred (Base Metals)
5,730,000 1.3 2.39 1.78 28.3

Note: totals may not add up correctly due to rounding.
1Mineral resources are exclusive of mineral reserves and do not have
demonstrated economic viability.
2Mineral resources do not include factors for mining recovery or dilution.
3Base metal mineral resources are estimated based on the assumption that they
would be processed at the Stall concentrator.
4Watts and Pen II mineral resources were initially estimated using metal price
assumptions that vary marginally over the assumptions used to estimate mineral
resources at Lalor. In the Qualified Person’s opinion, the combined impact of
these small variations does not have any impact on the mineral resource
estimates.
5Watts mineral resources are estimated using a minimum NSR cut-off of C$150 per
tonne, assuming processing recoveries of 90% for copper, 80% for zinc, 70% for
gold and 70% for silver.
6Pen II mineral resources are estimated using a minimum NSR cut-off of C$75 per
tonne.
7The above resource estimates table includes 100% of the Talbot mineral
resources reported by Rockcliff Metals Corp. in its 2020 NI 43-101 technical
report published on SEDAR+.


LATEST REPORT


2023 ANNUAL SUSTAINABILITY REPORT

Report Summary Website(opens in new window)
PDF(opens in new window)


TECHNICAL REPORTS

Copper Mountain NI 43-101 Technical Report - December 5, 2023(opens in new
window)
Snow Lake and Lalor NI 43-101 Technical Report - March 29, 2021(opens in new
window)
View all



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