Boliden Exploration Priority Projects Focus Finland

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1 Boliden Exploration Priority Projects Focus Finland Outline: - The Company - Boliden Exploration - The Acquisition of Kylylahti - Exploration targets in Finland - Summary Fennoscandian Exploration and Mining, November , Levi Finland Jonas Wiik Exploration Director Boliden Mines

2 Disclaimer This presentation has been prepared by Boliden for information purposes only and as per the indicated date. Boliden does not undertake any obligation to correct or update the information or any statements made therein. Certain statements in this presentation are forward-looking and are subject to risks and uncertainties. Nothing contained herein shall constitute any representation or warranty as to accuracy or completeness. Boliden has not made any independent verification of the information obtained from third parties. Nothing in this material shall be construed as an offer or solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction. Boliden does not accept any liability whatsoever arising from or in connection with the use of this information. Save as by prior approval in writing, this material may not be copied, transmitted or disclosed, whether in print, electronic or any other format. All rights to the material are reserved.

3 This is Boliden A Nordic metals company with focus on sustainable development Core competencies: exploration, mining, smelting and metals recycling Mines, produces and sells copper, zinc, lead, silver and gold Five mining areas and five smelters

4 Boliden Exploration Focus on zinc-, copper-, and precious metals-bearing deposits in Sweden, Finland and Ireland Target: a minimum of 10 years production lifespan in each mining area and to enable growth in the mining area through in-house target generation and JV partners Over 50 active projects make Boliden a European leader in exploration 109 permanent employees in 3 countries

5 Boliden Exploration - Active Areas Sweden: Aitik and Norrbotten (Cu, Au, Mo) Laver (Cu, Au) Boliden area (Zn, Cu, Pb, Au, Ag) Rockliden (Cu, Zn, Ag) Caledonian front (Zn, Pb) Garpenberg and Bergslagen (Zn, Cu, Pb) km2 ~ 126 exploration licences 61 km 2 91 mining concessions Irland: Tara (Meath Area) (Zn, Pb) 1871 km 2 60 exploration licences) Finland: Outokumpu area (Cu, Ni, Au, Ag, Zn) km 2 28 exploration licences + reservations - 8 km 2 10 mining concessions Kuhmo (Ni, Cu) - 3,3 km 2 5 exploration licences + reservations km 2 2 mining concessions

6 Exploration Expenditures and core drilling

7 Altona Mining Ltd s Finnish operations were acquired by Boliden on October 1st 2014 Luikonlahti Mill Interior Acquisition included: Kylylahti copper gold zinc mine at Polvijärvi Luikonlahti mill at Kaavi Exploration and mining rights at Outokumpu, Kotalahti and Suomussalmi areas

8 Production and Kylylahti in MINE PRODUCTION Ore hoisted (tonnes) Copper (%) 1,74 Gold (g/t) 0,65 Zinc % 0,63 MILL PRODUCTION Copper gold concentrate (tonnes) Copper content (tonnes) Gold content (kg) 317 Silver content (kg) Zinc concentrate (tonnes) Zinc content (tonnes) PERSONNEL (including contractors) Mineral reserves: % Cu, 0.95 g/t Au, 0.62 % Zn - Mineral resources: % Cu, 0.57 g/t Au, 0.33% Zn

9 Outokumpu Area Resources and Past Production CURRENT RESOURCES Kylylahti mine (Boliden Kylylahti) 1.33% Cu, 0.24% Co, 0.22% Ni, 0.54% Zn, 0.78g/t Au (31 Dec 2013) Hautalampi (Altona Mining) 0.36% Cu, 0.43% Ni, 0.11% Co Saramäki (Boliden Kylylahti) 0.7% Cu, 0.1% Co, 0.6% Zn Perttilahti (Boliden Kylylahti) 2.2% Cu, 0.15% Co, 0.15% Ni, 1.9% Zn (non JORC compliant) Vuonos (Boliden Kylylahti) 1.8% Cu, 0.1% Co,1.3% Zn Riihilahti (Boliden Kylylahti) 1.69% Cu, 0.04% Co, 0.16% Ni Kokka (Boliden Kylylahti) 0.38% Ni (non JORC compliant) PAST PRODUCTION Outokumpu / Keretti mine (Outokumpu Oy) 3.3% Cu, 0.8% Zn, 0.25% Co, 0.1% Ni, 0.6g/t Au Vuonos mine (Outokumpu Oy) 2.1% Cu, 1.3% Zn, 0.14% Co, 0.1% Ni Luikonlahti mine (Myllykoski Oy) 1.0% Cu, 0.6% Zn, 0.1% Co, 0.1% Ni Kylylahti mine (Altona Mining) 1.6% Cu, 0.7% Zn, 0.63g/t Au (till 31 Dec 2013)

10 Kylylahti Near Mine Exploration S-N longitudinal section Activities so far: -550z Ramp -580z Exploration drifting Diamond drilling, Kylylahti deeps Implemented Boliden s DHEM survey techinque Geophysical and Geological modelling Structural geology studies Mineral Reserve Mineral Resource Potential Mined Out

11 Outokumpu Field Exploration Activities so far: Luikonlahti Data compilation of existing data Fieldwork and field checks Modeling and target generation Prioritization of targets Diamond drilling has started

12 Summary: Nordic metals company focusing on sustainable development, producing and selling Zn, Cu, Pb, Ag and Au Boliden Exploration is focusing on 10 year production lifespan in all mining areas + creating possibilities for new mines Boliden made its entry into the mining and exploration industry in Finland in October 2014 through the acquisition of Kylylahti mine Boliden has a long term strategy for Exploration, Mining and Smelting in Finland

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