HudBay stock soars on copper, gold find

New discovery at Lalor site

Last Updated: Tuesday, September 22, 2009 | 12:17 PM ET CBC

HudBay Minerals Inc. has found evidence of a major new copper and gold deposit at its Lalor site in Manitoba, the mining firm said Tuesday.

Three-month stock chart for HudBay Minerals Inc. (CBC)

Beneath a previously announced zinc find near HudBay's Snow Lake concentrator in the Flin Flon Greenstone belt, initial tests found 13.35 grams per tonne of gold and 5.3 per cent copper.

"The copper and gold intersection ... is among the best I have seen in nearly 40 years in the mining business," HudBay president Peter R. Jones said in a statement.

Investors reacted with glee to the news, as HudBay shares were up more than 16 per cent to nearly $11 at midday on Tuesday.

Lalor is the focus of the company's stated aim of reaching three million contained ounces of gold.

The company also plans to release an update on zinc reserves at the Lalor site by October, it said Tuesday.

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Petrolifera Petroleum Limited (PDP - TSX) announced today that it will be presenting at the Raymond James "Investing in Colombia" Oil & Gas Conference in Toronto, Ontario on Monday, September 21, 2009. Gary Wine, President and Chief Operating Officer will be presenting at approximately 3:00 PM EDT.

To access the webcast of the presentation please go to the link provided below.

http://www.wsw.com/webcast/rj48/pdp.to/

The slide presentation for this event is being posted on Petrolifera's website at www.petrolifera.ca. Click on the Investor Information link and go to Presentations. A link to the webcast will also be posted on the website and will be available at the time of the presentations.

Petrolifera Petroleum Limited is a Calgary-based crude oil and natural gas exploration and production company engaged in exploration and productions activities in Argentina, Colombia and Peru. Its common shares and warrants are listed for trading on the Toronto Stock Exchange under the symbols PDP and PDP.WT, respectively.

SOURCE: Petrolifera Petroleum Limited

Petrolifera Petroleum Limited, R. A. Gusella, Executive Chairman, (403) 538-6201; Or Gary D. Wine, President and Chief Operating Officer, (403) 539-8450; Or Kristen J. Bibby, Vice President Finance and Chief Financial Officer, (403) 539-8450; Fax: (403) 538-6225, inquiries@petrolifera.ca, www.petrolifera.ca