Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Management Change

Stock Exchange Release

Talvivaara Mining Company Plc

7 October 2011







                          Talvivaara Management Change



Talvivaara  Mining Company Plc  ("Talvivaara" or "the  Company") announces today
that  Pekka Perä, the Chief  Executive Officer ("CEO"), has  stated to the Board
his  decision to  retire from  active executive  duties over  the coming months.
Consequently,  the  Company  will  seek  to  appoint  a  new CEO at the earliest
opportunity,  and Mr Perä has  agreed to continue with  his current duties until
that  time. Mr Perä has also confirmed that  he intends to continue as an active
member of the Board and to retain his current shareholding in the Company.

The  Board has commenced  a search for  a new CEO  and will update the market as
appropriate,  to  ensure  a  smooth  handover  of responsibilities and effective
transition.

Edward Haslam, Chairman of Talvivaara said: "Pekka Perä has worked tirelessly on
behalf  of  the  Company  over  the  past  eight  years  since  its  foundation,
successfully  bringing the Talvivaara  assets into production  over a remarkably
short period of time.""Pekka's  decision to retire from the day to  day running of the Company is part
of  Talvivaara's  on-going  transformation  from  a  start-up project to a fully
operating  mining company and we are delighted  that he will continue to provide
his  support, invaluable expertise and guidance on the Board of Directors, where
he will retain an active role which will help guide the Company through its next
stage of development."

Pekka  Perä, CEO  commented: "Bringing  Talvivaara from  greenfield site  into a
producing  nickel  mine  over  the  last  eight  years, although not without its
challenges,  has been an  immensely rewarding experience.  As the Company enters
the  final phase of its development into  full production, I remain committed to
delivering value for shareholders."


ENQUIRIES

Talvivaara Mining Company Plc
Edward Haslam, Chairman Tel: +44 207 726 8400 (via Merlin switchboard)
Pekka Perä, Chief Executive Officer        Tel: +358 20 712 9800


Merlin PR        Tel: +44 207 726 8400
David Simonson
Anca Spiridon







CONFERENCE CALL

A conference call on the operational and management update will be held on 7
October 2011 at 10:00 GMT/12:00 EET. The call will be held in English.

Participant - Finland: +358 (0)9 23 114 173
Participant - UK: +44 (0)1452 569 372

Conference ID: 17197066



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#1552916]

Attachments:

Talvivaara Management Change.pdf