excerpt

Reed Lake Joint Venture Exploration Results

Two drills are currently operating on site at the Reed Lake deposit. One drill is conducting in-fill drilling in preparation for a National Instrument 43-101 ("NI 43-101") mineral resource estimate, which is expected to be completed in the first quarter of 2011. A second drill is drilling deeper exploration holes down plunge to the west of the deposit. Drill hole RLD-015 intersected 10.09 meters of massive sulphide in the zone 10 horizon, which assayed 0.67 g/t Au, 5.20 g/t Ag, 2.39% Cu and 0.23% Zn. This massive sulphide mineralization indicates the zone remains open down plunge and up plunge toward the main deposit.

Pursuant to a joint venture agreement with VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS"), HudBay has a 70% interest and VMS has a 30% interest in the Reed Lake deposit, near Snow Lake, Manitoba. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% joint venture interest in the properties held by VMS adjacent to the Reed Lake property.+

Link

http://investor.shareholder.com/hbm/releasedetail.cfm?ReleaseID=536285

Map

I think our property is about 4km north of the "Discovery Zone"

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