Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Share Subscription Price and Market Value Stock Options 2011A

Stock Exchange Release

Talvivaara Mining Company Plc

29 April 2011




Talvivaara Mining Company Plc Share Subscription Price and Market Value of Stock
Options 2011A


The  Annual General  Meeting of  Shareholders of  Talvivaara Mining  Company Plc
decided  on issue  of stock  options to  the Talvivaara  Group key employees and
partly to the personnel on 28 April 2011. The share subscription price for stock
option  2011A is EUR 6.33 per share (the trade volume weighted average quotation
of  the share  on NASDAQ  OMX Helsinki  Ltd. during 1 March-31 March 2011). Each
year  dividends  and  repayments  of  equity  will  be  deducted  from the share
subscription price.

A  total of 2,500,000 new shares  or existing shares held  by the Company can be
subscribed for with stock options 2011A. The share subscription period for stock
options  2011A will be 1 April 2014-31 March 2016. The commencement of the share
subscription  period  requires  attainment  of  certain operational or financial
targets of the Group determined by the Board of Directors.

The  Board of Directors decides on the distribution of stock options annually in
spring  2011, 2012 and 2013. The target group of  the Plan consists of the Group
key  employees including the members of the Group Executive Committee and partly
the personnel of the Group.

The  theoretical  market  value  of  one  stock  option  2011A is  EUR 2.00. The
theoretical  market value of the stock  options 2011A is EUR 5,000,000 in total.
The theoretical market value of one stock option has been calculated through the
use  of Black  & Scholes  stock option  pricing model  with the  following input
factors:  share  price  EUR  5.98, share  subscription price EUR 6.33, risk free
interest rate 2.84%, validity of stock options five years and volatility 35%.

The  terms  and  conditions  of  the  Stock  Options  2011 are  available on the
Company's website www.talvivaara.com/options-scheme-2011-terms.


Enquiries:

Talvivaara Mining Company Plc, tel. +358 20 712 9800
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#1510839]

Attachments:

Share Subscription Price and Market Value of Talvivaara Stock Options.pdf