SOTKAMO SILVER’S FINANCING- AND DELIVERY AGREEMENT WITH ABB HAS BEEN EXTENDED.


We are happy to announce that the financing- and delivery agreement with
ABB Oy, Finland, has been extended until the end of 2016. The agreement
covers engineering, design, delivery and supply of electrification,
automation and instrumentation for the Silver Mine. The value of the
delivery is about 5 million euro.


ABB will participate in future financing-arrangements, where the size of
the funding is dependent on the value of the delivery.

According the Bankable Feasibility Study the total need of financing is
about 32 million euro.

\"The extension of terms and conditions of the agreement was very covet
for us, as we have been very pleased with the cooperation with ABB. The
Management intensively continue to investigate different alternatives to
find financing for construction of the Silver Mine. Production is
expected to start 12-14 months after full funding has been obtained,\"
summarizes Dr. Timo Lindborg, CEO of Sotkamo Silver AB.

 

Stockholm, 25th January 2016.

Timo Lindborg, CEO

 

 

About Sotkamo Silver AB:

Sotkamo Silver AB´s business concept is to exploit mineral deposits in
the Nordic countries with regards to human society and environment.
Sotkamo Silver owns, through its subsidiary mineral deposits, which
contains silver and gold in Finland. The Company’s main development
project is the Silver Mine project in the municipality of Sotkamo.

Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of
reporting for public mining & exploration companies. Sotkamo Silver
has chosen to report mineral resources and ore reserves according to the
internationally accepted JORC or NI 43-101-code. The company applies
International Financial Reporting Standards (IFRS) as approved by the
European Union.

The ticker symbol is SOSI in NGM and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.

Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi

For further information: Timo Lindborg, CEO, tel. +358 40 508 3 507

The official Stock Exchange Release is given in Swedish and there may be
slight differences in the translated versions.

Attachments

160125_PM_ABB_2016_ENG_49a1f.pdf