11:48 AM EST - Hudbay Minerals Inc. : Reported progress on the McClarty Lake VMS project, in Manitoba, in which Hudbay is joint venture partners with Troymet Exploration. The McClarty Lake property is located 47 kilometres southwest of Snow Lake, MB and comprises eight contiguous mineral claims totaling 936 hectares. Troymet owns 100% interest in three of the claims (344 hectares) and a 40% interest in five claims (588 hectares) in a Joint Venture with Hudbay. Under the terms of the Joint Venture Agreement, Hudbay must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest. Hudbay Minerals Inc.
shares T.HBM are trading down $0.08 at $4.58.
