Canfor Announces Capital Investments in Elko Sawmill

Canfor Announces Capital Investments in Elko Sawmill 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/17/12 -- Canfor
Corporation (TSX:CFP) announced today that the Company will proceed
with capital investments totaling an estimated $40 million in its
Elko sawmill, located in the Kootenay region of British Columbia
(B.C.). This investment is part of a multi-year capital investment
program aimed at enhancing productivity and cost performance across
the company. 
The Elko investment will include upgrades to the sawmill, increased
kiln drying capacity as well as the construction of a greenfield
planer mill complex. The Elko capital project will commence in Q1
2013, with anticipated completion in Q3 2013. 
"These investments are aligned with our strategic investments in our
Kootenay assets, and are necessary to ensure our Elko facility can
operate competitively in all market conditions," said Don Kayne,
President and CEO of Canfor Corporation. 
Canfor is the largest forest company in British Columbia, directly
employing more than 3,500 people in the province in highly skilled,
well paid and stable jobs. Over the last three years, the company has
invested $372 million in our facilities in British Columbia. These
major capital investments have included the restart our Radium and
Vavenby facilities, and other significant spending aimed at keeping
our mills competitive to ensure economic operation and continued,
stable employment. The reopening of our Vavenby and Radium mills
resulted in the creation of 305 direct jobs, combined with
significant downstream benefits to local economies. 
Forward-Looking Statements 
Certain statements in this press release constitute "forward-looking
statements" which involve known and unknown risks, uncertainties and
other factors that may cause actual results to be materially
different from any future results, performance or achievements
expressed or implied by such statements. Words such as "expects",
"anticipates", "projects", "intends", "plans", "will", "believes",
"seeks", "estimates", "should", "may", "could", and variations of
such words and similar expressions are intended to identify such
forward-looking statements. These statements are based on
management's current expectations and beliefs and actual events or
results may differ materi
ally. There are many factors that could
cause such actual events or results expressed or implied by such
forward-looking statements to differ materially from any future
results expressed or implied by such statements. Forward-looking
statements are based on current expectations and Canfor and the
Purchaser assume no obligation to update such information to reflect
later events or developments, except as required by law. 
Canfor is a leading integrated forest products company based in
Vancouver, British Columbia (BC) with operations in BC, Alberta,
Quebec and North and South Carolina. Canfor produces primarily
softwood lumber, and also produces bleached chemi-thermo-mechanical
pulp and specialized wood products. Canfor also owns a 50.2% interest
in Canfor Pulp Products Inc., which is one of the largest producers
of northern softwood kraft pulp in Canada and a leading producer of
high performance kraft paper. Canfor shares are traded on the Toronto
Stock Exchange under the symbol CFP.
Contacts:
Canfor Corporation - Media Contact
Christine Kennedy
Vice President, Public Affairs & Corporate Communications
(604) 661-5225
Christine.Kennedy@canfor.com 
Canfor Corporation - Investor Contact
Pat Elliott
Vice President & Treasurer
(604) 661-5441
Patrick.Elliott@canfor.com
www.canfor.com