Timminco Reports Financial Results for Fourth Quarter and 2010 Year

Timminco Limited ("Timminco" or the "Company")(TSX:TIM) today reported its financial results for the fourth quarter and year ended December 31, 2010.

Fourth Quarter Fiscal 2010 Summary (all figures are comparable with fourth quarter fiscal 2009):

-- Consolidated sales increased 22% to $31.0 million from $25.5 million;

-- Sales from silicon metal product lines increased 5% to $31.0 million from $29.3 million;

-- EBITDA (excluding a provision for the impairment of long-lived assets related to the purification of silicon metal and reorganization costs  related to disposal of the Magnesium Group) was negative $5.2 million compared with negative $17.4 million;

-- Net loss was $19.9 million, or $0.10 per share, compared with $69.4 million, or $0.48 per share;

-- Completed a silicon metal production partnership with Dow Corning Corporation, known as Quebec Silicon, which generated net cash proceeds