Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Share Subscriptions based on Stock Options 2007A and 2007B

Stock Exchange Release

Talvivaara Mining Company Plc

24 May 2011



     Talvivaara Share Subscriptions based on Stock Options 2007A and 2007B


A  total of 103,708 Talvivaara Mining Company  Plc.'s new shares were subscribed
for  during  the  period  between  29 February  2011 and 29 April 2011 under the
company's  stock option rights 2007A and a  total of 38,063 company's new shares
were  subscribed for during  the period between  1 April 2011 and 29 April 2011
under  the company's stock option rights 2007B. The entire subscription price of
EUR 376,886.37 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 245,721,603.

The  shares subscribed for under the stock  options were registered in the Trade
Register  on  24 May  2011, as  of  which  date  the  new  shares will establish
shareholder rights.

Trading  in the new  shares will begin  on NASDAQ OMX  Helsinki on 25 May 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 27 May
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  29 April 2011 a total of  291,086 Talvivaara Mining Company Plc.'s new
shares  were subscribed for under  the stock option rights  2007A and a total of
2,042,014 stock  option rights 2007A remain  unexercised and a  total of 38,063
company's new shares were subscribed for under the stock option rights 2007B and
a total of 2,295,037 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

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#1518282]

Attachments:

Talvivaara Share Subscriptions based on Stock Options 2007A and 2007B.pdf