SOTKAMO SILVER AB: PIPE LEAKAGE AND NOTIFICATION

Press release: Stockholm, August 9, 2019, 16:00 pm

At the mine site of Sotkamo Silver Oy a pipe line broke due to a construction failure which resulted in water flowing into the nearby wetland between the concentrate plant and the side rock area. Elevated concentrations of nitrogen, sulphate, zinc, nickel and cadmium were observed in a ditch on the mining site in the environmental monitoring samples. In the lake Pieni Tipasjärvi levels of these elements were not found.

The local management informed the Centre for Economic Development, Transport and the Environment (ELY Centre) about the leakage on June 19, 2019. Upon receipt of the notice, the ELY Centre notified the company that, in the future, a notice should be submitted immediately after any similar incident is detected.

Measures:

  • Repairs were started immediately after the leak was detected on May 20, 2019 and were completed by the end of May.
  • It has been agreed with the ELY Centry that regular monthly contact shall be held to improve and ensure the flow and exchange of information.
  • The drainage arrangements in the area have been altered to prevent recurrence.
  • The company has specified guidelines and operating procedures to prevent similar delays.
  • The interface of the responsible persons has been reviewed and clarified.

The company's goal is good and responsible management of the quality of the operations and environmental issues.

"I am very regretful for this incident. As the ELY Centre stated in public, the cases did not jeopardize the mine's environmental monitoring and the leak was not a major malfunction. We all have learned of this. Similar announcements will be made immediately if the need arises", says Timo Lindborg, CEO
 

Stockholm August 9, 2019
 

Sotkamo Silver AB

Timo Lindborg, CEO
 

Contact person
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3 507

All releases are given in Swedish and there may be differences in the translated versions.
 
ABOUT SOTKAMO SILVER AB

Sotkamo Silver AB's business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver, gold and tungsten in Finland and Sweden as well as zinc and gold in Norway. The Company's main development project is the Silver Mine project in the municipality of Sotkamo.
 
Sotkamo Silver applies SveMin's & FinnMin's own rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to publish 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.Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93

The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ Helsinki.

ISIN-code for Sotkamo Silver shares is SE0001057910.

Read more about Sotkamo Silver on www.silver.fi

The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.f

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