Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

SHARE SUBSCRIPTION SCHEDULE UNDER TALVIVAARA STOCK OPTIONS IN 2011

Stock Exchange Release

Talvivaara Mining Company Plc

21 January 2011



SHARE SUBSCRIPTION SCHEDULE UNDER TALVIVAARA STOCK OPTIONS IN 2011

The   shares  subscribed  for  under  Stock  Options  2007 during  2011 will  be
registered  in  the  Trade  Register  and  listed  on NASDAQ OMX Helsinki on the
following target dates:

                           |Entry into the Trade|
Share subscription deadline|Register on or about|New shares tradable on or about
---------------------------+--------------------+-------------------------------
28 February 2011           |14 March 2011       |15 March 2011
                           |                    |
29 April 2011              |13 May 2011         |16 May 2011
                           |                    |
30 June 2011               |14 July 2011        |15 July 2011
                           |                    |
31 August 2011             |15 September 2011   |16 September 2011
                           |                    |
31 October 2011            |15 November 2011    |16 November 2011
                           |                    |
30 December 2011           |16 January 2012     |17 January 2012



Shares will establish shareholders rights as of the date of share registration.

The  Stock  Options  2007 entitle  their  holders  to  subscribe  a  maximum  of
6,999,300 new  shares in the  Company. The Stock  Options 2007 have been divided
into  series 2007A, 2007B and  2007C. The share  subscription periods  for Stock
Options 2007 are the following:
-          2007A: 1 April 2010 - 31 March 2012
-          2007B: 1 April 2011 - 31 March 2013
-          2007C: 1 April 2012 - 31 March 2014

The  share subscription prices per share with the option rights 2007A, 2007B and
2007C amount to GBP 2.25, GBP 2.625 and GBP 2.75, respectively.

Subscriptions  will be  accepted at  Evli Bank  Plc. The  payments for the share
subscriptions  with Stock Options  2007 will be accepted  both in pound sterling
and in euro. The share subscription price in euro will be determined by the euro
reference  exchange rate  for the  pound sterling  computed and published by the
European Central Bank on the day preceding the date of share subscription.

By  31 December  2010 a  total  of  174,378 Talvivaara  Mining Company Plc's new
shares  were subscribed for under  the stock option rights  2007A and a total of
2,158,722 stock option rights 2007A remain unexercised.


The  terms  and  conditions  of  Talvivaara  Stock  Options 2007 with additional
information are available on
www.talvivaara.com.



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 sufficient to support anticipated production for at least 46 years.
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#1481472]

Attachments:

SHARE SUBSCRIPTION SCHEDULE UNDER TALVIVAARA STOCK OPTIONS IN 2011.pdf