THE REGIONAL STATE ADMINISTRATIVE AGENCY IN NORTHERN FINLAND HAS INFORMED SOTKAMO SILVER THAT THE ENVIRONMENTAL-PERMIT WILL BE DELAYED BECAUSE OF HEAVY WORKLOAD

(For press release in Finnish, see attached file)

The Regional State Administrative Agency has notified Sotkamo Silver that
processing of the Company's environmental-permit for the Silver Mine in Sotkamo
will be delayed, due to heavy workload. The Company's application will be
processed as soon as workload allows. The Agency works active with the
application, but cannot specify exact date when the permit will be received,
although it is prioritised.


"This notice has an effect on the Company’s Silver Mine project.
Preparation-work continues according to plan, but major works cannot be carried
out before environmental-permit has been received. Production-start will be
delayed at least six months and cannot be expected to start before the second
half of 2014," says Timo Lindborg, CEO of Sotkamo Silver.

 

Oulu, 28th November 2012.

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 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 ticker symbol is SOSI in NGM and SOSI1 in NASDAQ OMX Helsinki.

ISIN-code for Sotkamo Silver shares is SE0001057910 and for warrants
SE0004635290.

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
differences in the translated versions.