Champion Iron Subsidiary, Quebec Iron Ore, signs a long-term strategic services partnership agreement with Metso

Metso Corporation's press release on February 5th, 2018 at 4:00 p.m. EET

Quebec Iron Ore Inc. (QIO), a subsidiary of a Montreal-based iron development and exploration company, Champion Iron Limited, has signed a strategic partnership agreement with Metso for the maintenance of Metso equipment with a Life Cycle Services contract. This agreement will provide QIO with maximum availability of equipment to meet production targets for the Bloom Lake Iron Mine located near Fermont, Quebec. The new contract is signed for a period of three years and the first-year value of the order will be booked in Metso's first-quarter 2018 orders received.

"It's been a privilege to take on the challenge of identifying and customizing our offer in order to meet the goals and objectives of QIO," says Jean Hebert, VP, Services Sales, Canada, Metso. "We are proud of this partnership and committed to working with the QIO team to deliver a successful project "

Life Cycle Services (LCS) takes the entire range of services Metso provides and bundles them into tailored packages, ranging from the basics to more complete solutions, depending on the customer's needs. Packages are equipped to cover a single-event shutdown or span multiple years, measured against strict key performance indicators (KPI).

About Champion Iron

Champion is an iron development and exploration company, focused on developing its significant ore resources in the south end of the Labrador Trough in the province of Quebec, Canada. Following the acquisition of its flagship asset, the Bloom Lake iron ore property, the Corporation's main focus is to implement upgrades to the mine and processing infrastructure it now owns. The company also advances projects associated with improving access to global ore markets, including rail and port infrastructure initiatives with government and other key industry and community stakeholders.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.7 billion in 2017. Metso employs over 12,000 people in more than 50 countries.

www.metso.com, www.twitter.com/metsogroup

For further information, please contact:

Stephanie Kaminski, Head of Marketing & Communications, North America, Metso Corporation, Tel. +1 412 269 5298, Email: stephanie.kaminski@metso.com

Helena Marjaranta, Vice President, Communications and Stakeholder Relations, Metso Corporation, Tel. +358 20 484 3212, Email: helena.marjaranta@metso.com