Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Mining Company Plc: Release by the Talvivaara Board of Directors

Stock Exchange Release
Talvivaara Mining Company Plc
9 November 2012


           Release by Talvivaara Mining Company's Board of Directors


The  Talvivaara  Mining  Company  Plc  ("Talvivaara"  or the "Company") Board of
Directors  is  grateful  for  the  ongoing  tireless  efforts  of  the Company's
management,   personnel   and   numerous  external  professionals  to  stem  the
unfortunate  gypsum pond leakage which started on 4 November and to minimize its
environmental effects.

In  its strategy  Talvivaara has  defined that  it aims  at becoming a leader in
sustainable  mining practices. The development  towards this goal has progressed
and  management has reached many important milestones  but a lot of work remains
to  be  done.  The  operative  management  has  the full support of the Board of
Directors  and  the  Board  aims  to  take  any measures to assist management in
further implementing the Company's strategy.

However,  to ensure  that neither  exceptional weather  conditions nor any other
possible  occasions  will  cause  similar  problems  in the future, the Board of
Directors  has decided to establish a committee to investigate the circumstances
and  reasons, which led to this unfortunate  incident. As part of its work, this
committee  will also  aim at  ensuring that  the measures  taken will  under all
circumstances be appropriate and sufficient.

The  committee  will  be  chaired  by  the  Company's  independent non-executive
director  Mr. Tapani  Järvinen and  other members  of the committee will include
another  independent non-executive director  of the Company  Ms. Kirsi Sormunen.
Other  leading independent  experts from  Finland and  abroad will  be appointed
shortly.  The Board of Directors will report  on the progress of the committee's
work in due course.

On behalf of the Board of Directors of Talvivaara Mining Company Plc.


Enquiries

Talvivaara Mining Company Plc Tel: +358 20 7129 800
Tapani Järvinen, member of the Board of Directors
Olli-Pekka Nissinen, Communications Manager

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 at www.talvivaara.com.

[HUG#1656829]

Attachments:

Release by Talvivaara Mining Company's Board of Directors 9.11.2012.pdf