Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara's liquidity position stable; no personnel reductions being planned

Stock Exchange Release

Talvivaara Mining Company Plc

3 September 2012



Talvivaara's liquidity position stable; no personnel reductions being planned


Talvivaara  Mining Company  Plc ("Talvivaara"  or the  "Company") announces that
recent  publicly reported claims regarding the development of the Company's cash
position  during  the  remainder  of  the  year and ongoing or planned personnel
reductions are incorrect.

The  temporary alteration to the Company's near-term production scheme announced
in  connection with the 16 August 2012 Interim  Report is proceeding as planned,
and Talvivaara expects to achieve substantial cost savings without any personnel
impact.  Talvivaara anticipates the Company's cash reserves to remain sufficient
regardless  of the low  nickel price on  the basis of  current cash position and
previously announced near-term production and cost savings measures.





ENQUIRIES

Talvivaara Mining Company Plc Tel: +358 20 7129 800
Harri Natunen, 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  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#1638237]

Attachments:

Talvivaara - Stable liquidity; no personnel reductions 3.9.12.pdf