Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Exemption for Talvivaara from the Timing of Publication of the Financial Statements Release, the Financial Statements and the Review of the Board of Directors

Stock Exchange Release

Talvivaara Mining Company Plc

11 February 2015





Exemption  for  Talvivaara  from  the  Timing  of  Publication  of the Financial
Statements  Release, the  Financial Statements  and the  Review of  the Board of
Directors



Talvivaara  Mining Company Plc ("Talvivaara" or  "Company") has applied from the
Finnish  Financial Supervisory Authorityfor an exemption on the basis of chapter
7, section  18 of the Finnish Securities Markets Act to defer the publication of
Talvivaara's  financial statements release  as well as  the financial statements
and  the Board  of Directors'  review for  the financial year ending 31 December
2014 to  no  later  than  30 April  2015. Talvivaara  has  applied for a similar
exemption from the NASDAQ OMX Helsinki Oy under the rules of the stock exchange.



Talvivaara provides, inter alia, services to the bankruptcy estate of Talvivaara
Sotkamo  Ltd ("Talvivaara  Sotkamo") and  will continue  to operate for the time
being  with  the  aim  of  ensuring  sufficient  funding  to  participate  in  a
consortium,  which acquires the  mining operations from  Talvivaara Sotkamo. The
District  Court  of  Espoo  has  on  30 January 2015 granted an extension to the
deadline  for  re-submitting  the  proposal  for the reorganization programme of
Talvivaara  until 13 March  2015, as applied  by the  Administrator appointed in
respect   of   the  corporate  reorganisation.  In  the  current  circumstances,
Talvivaara  considers that  it is  not able  to publish the financial statements
release  on the previously  published date of  27 February 2015 or its financial
statements  and the Board of Directors'  review on the previously published date
of  23 March 2015, as  it is  likely that  the Company  will not have sufficient
information  on its  possible future  role in  the mining operations in Sotkamo,
Finland  or on the content or approval  of, the final restructuring programme on
the  above  mentioned  dates.  As  a  result,  Talvivaara  is currently not in a
position  to approve and publish the financial statements release, the financial
statements or the Board of Directors' review on a going concern basis.



Talvivaara's ability to continue its operations on a going concern basis and the
content  of the supplemented reorganisation programme  will be based on the role
that  the Company may  have in the  future operations of  the mine. Talvivaara's
potential role can only be determined when further information is available.



Talvivaara  has  received  the  above-mentioned  exemption  from  the  Financial
Supervisory  Authority on 11 February  2015. The Financial Supervisory Authority
has  granted the  exemption on  a condition  that the  Company publishes, by 28
February  2015, information corresponding to  the information to  be given under
the  Interim  Management  Statement  pursuant  to  chapter  7, section 14 of the
Finnish  Securities Market  Act, as  well as  other information available on the
prospects  for continuing  operations and  on the  effects of  the bankruptcy of
Talvivaara  Sotkamo  Ltd  on  the  operations  of  the  Company.  The  Financial
Supervisory  Authority  has  held  that  granting  the  exemption  on the above-
mentioned  conditions does not jeopardize the  position of the investors, and is
not  against  the  applicable  regulations  of  the  European  Union. Nasdaq OMX
Helsinki  Ltd has on 11 February  2015 granted Talvivaara equivalent exemptionon
the basis of to the rules of the stock exchange.



Talvivaara  will publish the information referred  to in the preceding paragraph
on  28 February  2015, at  the  latest,  and  its  financial  statement release,
financial  statements and the Board of  Directors' Review for the financial year
ending  31 December  2014 as  soon  as  possible,  but no later than on 30 April
2015. Talvivaara  is currently unable  to provide a  more detailed assessment of
when  the  financial  statements  release  and  the annual report containing the
financial  statements and the  Board of Directors  review will be published, but
the  dates will be published  separately once more clarity  on the situation has
been obtained.







Enquiries



Talvivaara Mining Company Plc Tel +358 20 7129 800

Pekka Perä, CEO

Pekka Erkinheimo, Deputy CEO


[HUG#1893630]

Attachments:

Talvivaara Exemption re Publication of the Financial Statements.pdf