Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara share subscriptions based on stock options 2007A and 2007B

Stock Exchange Release

Talvivaara Mining Company Plc.

21 September 2011





     Talvivaara share subscriptions based on stock options 2007A and 2007B

A total of 48,000 Talvivaara Mining Company Plc's new shares were subscribed for
during  the period  between 1 July  2011 and 31 August  2011 under the company's
stock  option  rights  2007A and  a  total  of  6,000 company's  new shares were
subscribed  for during the  period between 1 July  2011 and 31 August 2011 under
the  company's stock option  rights 2007B. The entire  subscription price of EUR
138,238.71 will  be entered  in the  invested unrestricted  equity reserve. As a
result  of the share subscriptions, the  number of Talvivaara Mining Company Plc
shares will increase to 245,781,803.

The  shares subscribed for under the stock  options were registered in the Trade
Register  on 21 September 2011, as  of which date  the new shares will establish
shareholder rights.

Trading  in the  new shares  will begin  on NASDAQ  OMX Helsinki on 22 September
2011.Talvivaara will  also apply for  admission of the  shares to listing on the
official  list  of  the  United  Kingdom's  Financial  Services Authority and to
trading  on the main market of the London Stock Exchange and it is expected that
the  admission will take  place and that  trading will commence  on or about 22
September 2011.

The  share subscription period for stock  options 2007A is between 1 April 2010
and  31 March 2012 and for stock options 2007B between 1 April 2011 and 31 March
2013. By  31 August 2011 a total of  340,586 Talvivaara Mining Company Plc's new
shares  were subscribed for under  the stock option rights  2007A and a total of
1,992,514 stock  option rights 2007A remain  unexercised and a  total of 48,763
company's new shares were subscribed for under the stock option rights 2007B and
a total of 2,284,337 stock option rights 2007B remain unexercised.

The  terms  and  conditions  of  Talvivaara  Stock  Options 2007 with additional
information are available on

http://www.talvivaara.com/investors/financial_information/share-options-plan

or

https://www.evli.com/web/FI/en/private-clients-and-companies/other-
services/incentive-programs/Talvivaara


ENQUIRIES
Talvivaara Mining Company Plc Tel: +358 20 7129 800
Pekka Erkinheimo, Chief Commercial Officer
Saila Miettinen-Lähde, Chief Financial Officer


Talvivaara Mining Company Plc.
Talvivaara Mining Company is an internationally significant base metals producer
with  its  primary  focus  on  nickel  and  zinc  using  a  technology  known as
bioheapleaching  to extract metals out  of ore. Bioheapleaching makes extraction
of  metals  from  low  grade  ore  economically  viable. The Talvivaara deposits
comprise  one of the largest known sulphide  nickel resources in Europe. The ore
body  is  estimated  to  support  anticipated  production  for  several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main
output  of nickel and cobalt to Norilsk Nickel and entered into a long-term zinc
streaming  agreement with Nyrstar  NV. Talvivaara is  listed on the London Stock
Exchange  Main Market and NASDAQ  OMX Helsinki and is  included in the FTSE 250
Index. Further information can be found atwww.talvivaara.com.

[HUG#1548479]

Attachments:

Talvivaara share subscriptions based on stock options 2007A and 2007B.pdf