PROGRESS MADE IN PREPARATIONS TO SELL THE SUOMUSSALMI TALC DEPOSIT

Based on earlier drilling tests that Tulikivi carried out for the purpose of soapstone production and recent test results, Tulikivi previously estimated that there are approximately 20 million tonnes of talc ore in Suomussalmi. The Suomussalmi deposit comprises the areas of Haaponen, Kivisuvanto, Sivusuvanto and Kivikangas. During the first half of 2018, Tulikivi commissioned an analysis in accordance with the JORC Code from the Geological Survey of Finland, which covers about 6 million tonnes of the talc raw material in the Haaponen deposit. The company previously announced that it aimed to complete the investigation by the end of August 2018.

In order for the deposit’s inferred resources to be classified as indicated and partly measured ore resources, the company will carry out a small number of complementary drillings and drill core analysis.  The JORC report will be published once these investigations have been completed.

The company will continue working on other preparations for the sale so it will be possible to implement the potential sale of the talk reserve after the completion of the JORC report. It is too early to predict the success or financial impact of a potential sale.

Heikki Vauhkonen, Managing Director: “The Geological Survey of Finland has tested the talc raw material in the Suomussalmi Haaponen talc deposit in laboratory tests and studied its concentration capacity using froth flotation according to the JORC code. The studies and cash flow models carried out as part of the investigation have confirmed our point of view that if utilised the deposit could be profitable. In our opinion the talc content, yield and brightness of the Haaponen reserve is of high quality.”

TULIKIVI CORPORATION

Board of Directors

Further information: Heikki Vauhkonen, Managing Director, tel. +358(0)207 636 555

Distribution: NASDAQ Helsinki, Key media