PYHASALMI MINE

Inmet Mining Corp. released production results.

Inmet reported on Pyhäsalmi Mine operations for the quarter ended Mar31/09. Pyhäsalmi maintained its strong production record in the first quarter of 2009, processing at an annualized rate of 1.4 million tonnes. Copper production was consistent with last year. Zinc production in the first quarter was lower than we planned and lower than the first quarter of 2008 because changes in stope sequencing resulted in lower grades. Pyrite production was consistent with last year, but a steep drop in pyrite demand at the end of 2008 reduced prices significantly, and customers took only minimum contracted deliveries. Pyhäsalmi sold 76,000 tonnes of pyrite in the first quarter of 2009 compared to 124,000 tonnes in the same period last year. The higher cost in 2009 is a result of the exchange rate between the euro and Canadian dollar. Pyhäsalmi expects to mine 1.4 million tonnes of 1 percent copper and 1.9 percent zinc in 2009, and produce 13,000 tonnes of copper and 22,600 tonnes of zinc. Zinc grades are expected to increase through the rest of the year to reach our objective of 1.9 percent.

Reported that the mine processed more than 1.4 million tonnes of ore through the mill. Copper production in 2008 was slightly higher than plan. Zinc production was lower than we planned and lower than 2007 because changes in stope sequencing resulted in lower grades. Pyrite production increased to 565,000 tonnes for the year to take advantage of high demand. Demand decreased in the fourth quarter and accordingly reduced the production of pyrite. The higher cost of steel and mill processing reagents, combined with the exchange rate between the euro and Canadian dollar, increased costs in 2008.