Timminco Announces Execution of Stalking Horse Bid and Marketing Process Timeline

TORONTO, ONTARIO--(Marketwire - March 2, 2012) - Timminco Limited (TSX:TIM) and its wholly-owned subsidiary Bécancour Silicon Inc. (collectively, the "Company") announced today the execution of an asset purchase agreement with QSI Partners Ltd. as purchaser and Globe Specialty Metals, Inc. as guarantor, for the sale of substantially all of the assets of Bécancour Silicon Inc., including the assets of its silicon metal and solar grade silicon businesses located in Bécancour, Québec, Canada (the "QSI APA"). Subject to court approval, the QSI APA will stand as a "stalking horse bid" in the marketing process pursuant to which the Company is now offering for sale all of its assets. Subject to order of the court, the deadline for the submission of non-binding expressions of interest is March 26, 2012. A copy of the QSI APA will be available on the Monitor's website http://cfcanada.fticonsulting.com/timminco.

"The execution of the stalking horse bid is a very positive step in our restructuring process that we are very pleased to have completed." said Mr. Douglas A. Fastuca, Chief Executive Officer of the Company. "We believe that there are many other parties with a strong interest in the business and assets. The marketing process which we are now undertaking, back-stopped by the QSI APA, gives everyone the opportunity to make a superior offer and acquire the business and assets either piecemeal or en bloc".

Interested parties who wish to obtain more information about the marketing process or who would like to execute a non-disclosure agreement and access the Company's datasite are requested to contact the Monitor, FTI Consulting Canada Inc., via email at: timminco@fticonsulting.com, or telephone: (416) 649-8125 or 1 (855) 244-0020 (toll free). Information about the CCAA Proceeding, including copies of all court orders and the Monitor's reports, is available at the Monitor's website http://cfcanada.fticonsulting.com/timminco.

About Timminco

Timminco produces silicon metal for the chemical (silicones), aluminum and electronics/solar industries, through its 51%-owned production partnership with Dow Corning, known as Québec Silicon. Timminco is also a producer of solar grade silicon, using its proprietary technology for purifying silicon metal, for the solar photovoltaic energy industry, through Timminco Solar, a division of its wholly owned subsidiary Bécancour Silicon.