Catalyst Paper IDs Stalking Horse Bidder for Snowflake Mill

The bid by the Stalking Horse is subject to higher and better offers obtained through the US Court-approved sale and investor solicitation procedures. Catalyst Paper expects to receive binding bids for the assets from qualified bidders on December 7, 2012 and expects to hold an auction among qualified bidders on December 17, 2012 in New York City. A hearing in the US Court is scheduled for December 19, 2012 to consider approval of the sale.