Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara and Terrafame have agreed on an extension of the deadline set for the detailed terms of the sale of Talvivaara's assets

Stock Exchange Release
Talvivaara Mining Company Plc
3 February 2016



Talvivaara and Terrafame have agreed on an extension of the deadline set for the
               detailed terms of the sale of Talvivaara's assets


As  announced  by  Talvivaara  Mining  Company  Plc ("Talvivaara") on 28 January
2016, Talvivaara,  Terrafame  Group  Ltd,  Terrafame  Ltd  and  Winttal  Ltd,  a
subsidiary  of Terrafame Group Ltd, have signed a letter of intent, in which the
parties  provisionally agree on the essential  terms and conditions for the sale
of  Talvivaara's assets related  to the Sotkamo  mining operations. According to
the  letter  of  intent  the  arrangement  was  conditional  upon  the  detailed
agreements  concerning  the  arrangement  being  finalized  and  accepted by all
parties no later than 3 February 2016, or on another date agreed by the parties,
at which instant the first phase of the arrangements would be completed.

As  previously  announced  the  arrangement  is,  among others, conditional on a
favorable decision by the Vaasa Administrative Court on Nuasjärvi discharge pipe
line,  enabling  the  continuance  of  Terrafame's  mining operations. Since the
decision  of the Vaasa Administrative Court  has not been received by 3 February
2016, the  parties have agreed  to extend the  deadline set for the finalization
and approval of the detailed agreements until the decision of the Administrative
Court has been received.



Enquiries

Talvivaara Mining Company Plc. Tel. 020 7129 800

Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO

[HUG#1983557]

Attachments:

Talvivaara and Terrafame have extented the deadlines of the agreements.pdf