Perseverance (West) - Equinox

Repeorted that the mine commenced production on 1 July 2008 and remains within the original local currency budget. At full production, the mine will produce 228,000 tonnes of zinc concentrate and 35,000 tonnes of copper concentrate with a mine life of five and a half years

Expects to invest approximately US$130-million in the development of the mine, made possible in part by stronger zinc markets and the continued collaboration and support of the government. Construction will last about 2 years, with the mine's life expectancy estimated at roughly 5 years. The zinc produced at the mine will be processed at Falconbridge's former Lac Matagami mine facilities where, in anticipation of the Perseverance project start-up, the company retained the administrative offices and concentrator after the Bell-Allard mine's closure in 2004. The annual production of 228,000 tonnes of zinc concentrate will be shipped and processed at the CEZinc Refinery in Valleyfield, Quebec. In 2004, the feasibility study was updated for the development project. Development of the mine and commercial production of zinc concentrate can be completed in 2 years.

Falconbridge Ltd expects to invest approximately US$130-million in the development of the Perseverance zinc mine in Quebec, made possible in part by stronger zinc markets and the continued collaboration and support of the government. Construction will last about 2 years, with the mine's life expectancy estimated at roughly 5 years. The zinc produced at the mine will be processed at Falconbridge's former Lac Matagami mine facilities where, in anticipation of the Perseverance project start-up, the company retained the administrative offices and concentrator after the Bell-Allard mine's closure in 2004. The annual production of 228,000 tonnes of zinc concentrate will be shipped and processed at the CEZinc Refinery in Valleyfield, Quebec.