Noranda Income Fund Announces First Quarter 2021 Results; Offers updates to the terms and conditions for the 2021/2022 contract period

TORONTO, April 29, 2021 (GLOBE NEWSWIRE) – The Noranda Income Fund (TSX: NIF.UN) (the “Fund”) today announced its financial results for the first quarter ending March 31, 2021, on the terms under which zinc concentrate purchased and zinc metal are sold for the period May 1, 2021 to April 30, 2022. Unless otherwise stated, all amounts in this press release are in US dollars. First Quarter 2021 Highlights (compared to same period in 2020) Income before income taxes of $ 11.0 million versus $ 11.5 million. Adjusted EBITDA1 of $ 9.5 million versus $ 17.2 million. Zinc metal production of 66,345 tons compared to 67,425 tons. Zinc metal sales of 66,277 tons compared to 68,059 tons of sulfuric acid Sales of 93,574 tons compared to 97,880 tons “Lower treatment costs and strong copper …

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