Timminco Provides Update on Solar Grade Silicon Customers and Operations and Announces Proposed Financing and New

TORONTO, ONTARIO, Apr 20 (MARKET WIRE) --
Timminco Limited ("Timminco" or the "Company") (TSX: TIM) announced today
an update on its on-going discussions with solar grade silicon customers.
These discussions have focused on alternatives to the existing
contractual commitments, in the context of maintaining long-term
relationships with customers in light of the challenging economic
environment and market conditions affecting the solar industry.

In the course of these negotiations, some of the Company's solar grade
silicon customers have asserted that their contracts have been terminated
due to non-compliance. We are in active discussions with each of these
customers with respect to their positions and the terms of future
relationships, including quality, quantity and pricing for solar grade
silicon. These customers have paid deposits, which were non-interest
bearing pre-payments to be credited against future deliveries of solar
grade silicon under the contracts. As described in more detail in the
Company's financial statements and management's discussion and analysis,
in the event of an early termination or completion of a supply contract
without full utilization of the deposit amount, any remaining balance on
the deposit is to be repaid to the customer within a specified time
period.

Timminco also announced an update on its solar grade silicon production
operations. For the first quarter of 2009, the Company shipped 131 metric
tons (mt) of solar grade silicon. The average selling price for such
shipments was $58 per kg, resulting in gross revenue of $7.6 million for
this product line in the quarter.

Timminco is pursuing discussions with its controlling shareholder, AMG
Advanced Metallurgical Group N.V. ("AMG"; Euronext: AMG), regarding it
leading a potential equity offering for aggregate gross proceeds of $15.0
million. Such offering is expected to be by way of a private placement,
with AMG subscribing for a minimum of 50%, and up to 100%, of the common
shares that may be issued. Such offering would be subject to AMG's
supervisory board approval, execution of definitive documents and receipt
of all necessary regulatory approvals, including approval of the Toronto
Stock Exchange. Clarus Securities Inc. has been appointed to represent
the Company as the sole agent for this offering.

Timminco further announced the promotion of Mr. John Fenger, President -
Light Metals, as the new President and Chief Operating Officer of
Timminco. Most recently, Mr. Fenger was responsible for the restructuring
of Timminco's magnesium business. Mr. Fenger spent most of his career at
Elkem AS where he had most recently been Corporate Vice President and
General Manager of that company's Foundry Market Division. In that
position and as Senior Vice President of Elkem's Materials Division, Mr.
Fenger had full responsibility for its silicon business as well as other
metals businesses throughout the world. Mr. Fenger has had extensive
experience in the solar industry as a co-founder and a Director of
Renewable Energy Corporation, Norway (REC). Mr. Fenger has also served
with Deloitte & Touche LLP as Director of International Business
Consulting and with Allied Resource Corporation.

Dr. Heinz C. Schimmelbusch, Chief Executive Officer of Timminco, stated:
"Mr. Fenger's performance in restructuring Timminco's magnesium business,
formerly our primary operating division, exhibited his strong managerial
skills and operating experience. He will significantly increase the depth
of our management team."

This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the common shares in the United States.
The common shares have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any other state securities laws and may not be offered or sold
in the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from
such registration is available.

About Timminco

Timminco is a leader in the production of low cost solar grade silicon
for the solar photovoltaic energy industry. Using its proprietary, patent
pending technology, Timminco purifies silicon metal into solar grade
silicon (also known as upgraded metallurgical silicon) for use in the
manufacture of solar cells. Timminco also produces silicon metal,
magnesium extrusions and other specialty metals for use in a broad range
of industrial applications serving the aluminum, chemical,
pharmaceutical, electronics and automotive industries.

CAUTIONARY NOTE ON FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information", as such term is
defined in applicable Canadian securities legislation, concerning
Timminco's future financial or operating performance and other statements
that express management's expectations or estimates of future
developments, circumstances or results. Generally, forward-looking
information can be identified by the use of forward-looking terminology
such as "expects", "believes", "anticipates", "budget", "scheduled",
"estimates", "forecasts", "intends", "plans" and variations of such words
and phrases, or by statements that certain actions, events or results
"may", "will", "could", "would" or "might" "be taken", "occur" or "be
achieved". In this news release, such information includes statements
regarding: discussions with solar grade silicon customers, including
claims relating to termination of contracts and future relationships with
such customers, repayment of deposits, the proposed equity offering,
including gross proceeds therefrom and AMG's participation therein, and
changes in Timminco's executive management. Forward-looking information
is based on a number of assumptions and estimates that, while considered
reasonable by management based on the business and markets in which
Timminco operates, are inherently subject to significant operational,
economic and competitive uncertainties and contingencies.

Timminco cautions that forward-looking information involves known and
unknown risks, uncertainties and other factors that may cause Timminco's
actual results, performance or achievements to be materially different
from those expressed or implied by such information, including, but not
limited to: deteriorating global economic conditions; future growth plans
and strategic objectives; liquidity risks; limitations under existing
credit facilities; long-term contracts for supplying solar grade silicon;
solar grade silicon production cost targets; selling prices of solar
grade silicon and silicon metal; achieving and maintaining the purity of
solar grade silicon; production capacity expansion at the Becancour
facilities; pricing and availability of raw materials for the silicon
business; customer capabilities in producing ingots; limited history with
the solar grade silicon business; dependence upon power supply for
silicon metal production; protection of intellectual property rights;
government and economic incentives; closure of the magnesium facilities
and the completion of related proposed transactions; cost and
availability of magnesium metal; dependence upon key customers of
magnesium extruded and fabricated products; credit risk exposure;
customer concentration; equipment failures; labour disputes; foreign
currency exchange; dependence upon key executives and employees;
completion and integration of potential acquisitions, partnerships or
joint ventures; risks with foreign operations and suppliers;
environmental, health and safety laws and liabilities; transportation
disruptions; conflicts of interest; interest rates; intellectual property
infringement claims; new regulatory requirements; changes in tax laws;
and climate change. These factors are discussed in greater detail in
Timminco's Annual Information Form for the year ended December 31, 2008,
and Timminco's most recent Management's Discussion and Analysis, each of
which is available via the SEDAR website at www.sedar.com. Although
Timminco has attempted to identify important factors that could cause
actual results, performance or achievements to differ materially from
those contained in forward-looking information, there can be other
factors that cause results, performance or achievements not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate or that management's expectations
or estimates of future developments, circumstances or results will
materialize. Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information in this news
release is made as of the date of this news release and Timminco
disclaims any intention or obligation to update or revise such
information, except as required by applicable law.

Sedar File Profile #00000838

Contacts:
Timminco Limited
Robert Dietrich
Executive Vice President - Finance and CFO
(416) 364-5171
(416) 364-3451 (FAX)
rdietrich@timminco.com

The Equicom Group Inc.
Joe Racanelli
(416) 815-0700 ext. 243
(416) 815-0080 (FAX)
jracanelli@equicomgroup.com

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