Guatemala, September 27, 2011.

Solway Investment Group Limited Inc. (“Solway”, the “Company”) is pleased to announce that the process of acquiring FeNix, the ferronickel project in El Estor, Izabal, to the Canadian firm, Hudbay Minerals Inc. and is preparing to start operations in Guatemala in the short term.

The new owners of the Compañía Guatemalteca de Níquel, CGN consider the FeNix project fits perfectly with the strategy of Solway to strengthen and become a mayor player in the world’s stage of nickel, and trust that FeNix can complement the nickel operations the group currently owns: the Pobuzhkiy ferronickel plant (Ukraine), a leading ferronickel smelter in Europe, and the Aquila project in Indonesia.

Solway is a group of experience in the field of mining and hopes that this condition will allow Fenix to ​​quickly revive as successfully as Pobuzhkiy in Ukraine in 2003. This mine was idle for more than three years of unprofitable operations and in less than a year Solway renewed it and put it to work. Currently, the plant employs about 1,900 people and is an example of efficient use of natural resources in the world.

Dimitry Kudryakov, new president of CGN, said the plans for Phoenix are promising and contemplate an entry to the detailed engineering phase and to start production as soon as possible. He added that the plan is to build the project in three phases: the first, which will begin immediately and will last approximately 18 months, they expect to achieve an output of 35 thousand tons of ferronickel, the second stage, lasting about 30 months, predict 75 thousand tons of product, so that between the fourth and fifth year of operations this figure will double to 150 thousand tons.

En la parte administrativa, Solway está trabajando en organizar la estructura interna de CGN y preparando al equipo para esta nueva fase. Los directivos del grupo están satisfechos con la labor del equipo que dejó HudBay, liderado por John D. a quien desean éxito en los nuevos desafíos que enfrente en la industria minera mundial. Bracale,

On the administrative side, Solway is working to organize the internal structure of CGN and preparing the team for this new phase. The Group Managers are satisfied with the work HudBay left, led by John D. Bracale, to whom they wish success in the new challenges he will face in the global mining industry.

“We have the tools and we are determined to replicate the same strategy with Fenix ​​and the success that the group has had in other countries,” said Kudryakov.

Solway Investment Group Limited) (Solway Investment Group Limited

Solway Investment Group is a private group of companies with diversified mining, basic metals, nonferrous metals, and real estate. The group’s main business is taking place in the European Community countries (CIS), Central and Eastern Europe, Latin America, Africa and Australasia. Its major investments include: The Pobugsky ferronickel plant (Ukraine), the leading producer of ferronickel in Europe, SASA (Macedonia), under the leadership of lead and zinc mining in Europe, Aquila, a project of world-class nickel Indonesia and other model projects.