HudBay Minerals and Skye Resources announce that Skye shareholders, optionholders and holders of deferred share units have voted in favour of the previously announced business combination between HudBay and Skye at a special meeting of Skye securityholders held today in Vancouver.  In excess of 99% of the votes cast at the meeting were in favour of the Transaction. The completion of the Transaction remains subject to a final hearing by the Supreme Court of British Columbia, currently expected to take place on August 22, 2008, with closing of the Transaction expected to occur shortly thereafter.  The Transaction is structured as a Plan of Arrangement under the Business Corporations Act (British Columbia) between HudBay, Skye and 0828275 B.C. Ltd. a wholly-owned subsidiary of HudBay.

HudBay Minerals is a leading Canadian base metals mining company with a focus on the discovery and production of zinc and copper metal. The company is investing for the future in one of the most ambitious exploration programs in Canada, targeting its 400,000 ha exploration territory in the Flin Flon Greenstone Belt. As an integrated mining company, HudBay operates mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, a zinc oxide production facility in Ontario, the White Pine copper refinery in Michigan, and the Balmat zinc mine in New York state. 

Skye’s principal asset is the worldclass Fenix nickel project in Guatemala, which includes 41.4 Mt of reserves.  Skye has completed a feasibility study for a ferro-nickel project using proven conventional smelting technology.  Environmental and construction permits for the project have been received, basic engineering is complete, detailed engineering is approximately 50% complete and preparations to initiate construction are underway.