Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara has applied for exemption to defer publication of Financial Statements Release, Financial Statements, and B.o.D Review

Stock Exchange Release
Talvivaara Mining Company Plc
24 March 2014



    Talvivaara has applied for an exemption to defer the publication of the
    Financial Statements Release, the Financial Statements and the Board of
                               Directors' Review

Talvivaara  Mining Company Plc  ("Talvivaara" or the  "Company") has appliedfrom
the  Finnish Financial  Supervisory Authority  for an  exemption on the basis of
Chapter  7, Section 18, Subsection  2 of the  Finnish Securities  Markets Act to
defer  the  publication  of  the  Financial  Statements  Release,  the Financial
Statements  and the Board of Directors' review  for the financial period from 1
January 2013 to 31 December 2013 until 30 April 2014. The Company will apply, on
the  basis of  the rules  of the  stock exchange,  for a  similar exemption from
NASDAQ  OMX Helsinki  Ltd. The  Company has  previously announced  that it would
publish its Financial Statements Release on 27 March 2014 and its Annual Report,
which  includes the Financial Statements and  the Board of Directors' review, on
31 March 2014.

The  Finnish  Financial  Supervisory  Authority  granted  on  24 January 2014 an
exemption  for  Talvivaara  from  the  publication  deadline  of  the  Financial
Statements  Release for the financial  period from 1 January 2013 to 31 December
2013 until  31 March 2014, provided that  the Company will  no later than on 28
February  2014 publish  information  for  the  period  of  1 January 2013 to 31
December  2013 that  is  equivalent  to  the  contents  of an interim management
statement  as described  in Chapter  7, Section 14, Subsection  3 of the Finnish
Securities  Markets Act. Talvivaara published the statement referred to above on
28 February 2014. NASDAQ OMX Helsinki Ltd. granted, on the basis of the rules of
the stock exchange, a similar exemption to the Company in January 2014.

As  previously announced  in the  release published  on 28 February  2014 by the
Company,  Talvivaara  had  as  at  31 December  2013 cash  and  cash equivalents
amounting  to EUR  5.9 million. As  a result  of cash  generated from nickel and
cobalt  sales since then,  and the cost  savings made by restricting operations,
the Company has been able to continue operations for the time being. However, in
the  absence  of  further  funding,  the  Company's  liquidity situation remains
critical. Talvivaara continues, together with the Administrator of the corporate
reorganisation, active discussions with certain parties regarding bridge funding
and  will  inform  the  markets  about  the  progress of these in due course. In
addition,  the Company is  also in discussions  with certain parties regarding a
long-term  financing solution for Talvivaara. As  also stated in connection with
the Company's Q3 2013 results and in the release published on 28 February 2014,
the  Directors have in  the current circumstances  concluded that there exists a
material  uncertainty that casts significant doubt upon the Company's ability to
continue  as a going concern  and that, therefore, the  Company may be unable to
realise  its  assets  and  discharge  its  liabilities  in  the normal course of
business. Therefore, Talvivaara is not currently in a position in which it could
prepare  and approve its Financial  Statements Release, Financial Statements and
the  Board of Directors'  Review for 2013 applying  the going concern basis. The
Company aims to clarify the uncertainties relating to the going concern basis of
its  accounts and publish its Financial Statements Release, Financial Statements
and the Board of Directors' Review for 2013 as soon as possible, however, within
the   extended  timeline  to  be  possibly  granted  by  the  Finnish  Financial
Supervisory Authority and NASDAQ OMX Helsinki Ltd.



Enquiries

Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO



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.  Talvivaara  is  listed on the London Stock
Exchange  Main Market and NASDAQ OMX  Helsinki. Further information can be found
at www.talvivaara.com.

[HUG#1771247]

Attachments:

Talvivaara deferral of financial statements 24.3.2014.pdf