THE MINING CONCESSION GRANTED FOR TAIVALJÄRVI SILVER MINE
Ministry of Employment and the Economy have today granted a Mining Concession to Sotkamo Silver Oy regarding the Taivaljärvi area. The area is total 371,44 hectares and includes the area of open pit and underground beneficiation plant, sand-dams, and the entire necessary infrastructure for the mine. The appeal period ends 13.6. 2011. The Kainuun-Koillismaan District Survey Offices shall establish the mining concession area before 18.11.2011.
The decision means that Sotkamo Silver's application meets all requirements of the Finnish Mining Law and from that point of view there are no obstacles for mining activities in the area. However, before mining can begin, another permit is needed, Environmental Permit. The application of the permit will be submitted shortly and treatment time is estimated to be about a year.
Ministry of Employment and the Economy‘s decision in full can be found on its website, http://www.tem.fi/index.phtml?s=2147
“This means that we are taking another important step towards silver production in Taivaljärvi Silver Mine and our goal to be a significant silver producer in the Nordic countries. Together with the successful issuance of share trough warrants, this is good news, which means that we intensify the preparatory works. Our view is that the construction of the mine and beneficiation plant could begin during the 4th quarter 2012 and full production can begin earliest at the end of 2013”, says Timo Lindborg, CEO of Sotkamo Silver AB.
Stockholm 18th April 2011
Timo Lindborg, CEO
(For map see attached file)
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regard to human society and environment. Sotkamo Silver owns, through its subsidiary mineraldeposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine.
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 shares are traded at the Burgundy market place and NGM Equity in Stockholm. The ticker symbol is SOSI.
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. +46-8-30 49 20