Amsterdam, 6 May 2010 --- AMG Advanced Metallurgical Group N.V.'s ("AMG", EURONEXT AMSTERDAM: "AMG") affiliate Timminco Limited ("Timminco"; TSX: TIM) announced that it has agreed to issue approximately 16.9 million common shares on a private placement basis at a price of C$0.65 per share for aggregate gross proceeds of approximately C$11.0 million.

The offering, which is scheduled to close on or before May 21, 2010, is subject to execution of definitive documents and receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange.

The net proceeds of the offering will be paid to the Timminco's senior secured lender to reduce the outstanding balance under the Timminco's revolving credit facility with Bank of America, NA. The amount repaid under such facility may be reborrowed, and used for general corporate purposes, subject to continued compliance with, and availability under, the facility.

AMG has agreed to subscribe for approximately 11.3 million common shares representing C$7.4 million of the gross proceeds of the offering. AMG currently owns approximately 67.8 million common shares, representing approximately 38.6% of Timminco's total outstanding common shares. AMG will own approximately 41.1% after completion of the offering.