Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara to investigate the recovery of uranium as a separate product from its ore body

STOCK EXCHANGE RELEASE

Talvivaara Mining Company Plc 9 February 2010 at 8.00a.m Finnish time, 06.00a.m
UK time

Talvivaara to investigate the recovery of uranium as a separate product from its
ore body

Talvivaara  Mining Company  Plc ("Talvivaara"  or the  "Company") is planning to
initiate  the recovery and exploitation of  uranium, obtained as a by-product of
other metals, in the form of a uranium intermediate, yellow cake.

Natural  uranium is a  commonly occurring element  which is also  present in low
concentrations  in  the  Talvivaara  ore  body.  In Talvivaara's bioheapleaching
process,  small concentrations of uranium leach  into the process solution along
with  the Company's main products. Talvivaara is now investigating the potential
to  modify its production process so that  the uranium contained in the solution
can  be utilised  as yellow  cake. In  the Company's present production process,
extremely  small concentrations of uranium are deposited in an engineered gypsum
pond intended for process precipitations.

The Company plans to recover the uranium from its main leaching process by using
a safe and technically simple solvent extraction process which is widely applied
to metals recovery. This process modification will not alter discharge levels or
other  environmental  impacts  of  the  operations,  as  defined in Talvivaara's
current  Environmental Permit.  Talvivaara has  drawn up tentative process plans
in cooperation with Outotec Oyj and Norilsk Nickel Harjavalta Oy.

In  the Talvivaara area,  the bedrock and  nickel ore naturally contain uranium.
However, surveys conducted by the Geological Survey of Finland have not revealed
any  abnormal radiation levels, with all measured values reported by the Finnish
Radiation and Nuclear Safety Authority (STUK) within normal background radiation
levels.  Radiation levels of natural uranium  will not change during the solvent
extraction process.

Talvivaara   is   currently   preparing   necessary   documentation  for  permit
applications  and continuing its  investigations relating to  the utilisation of
uranium.

The  planned  investment  in  the  solvent  extraction  plant  is  estimated  at
approximately   EUR   30 million.  Annual  production  costs  are  estimated  at
approximately  EUR 2 million  and the  annual production  volume is estimated at
approximately  350 tonnes. The extraction plant is expected to employ around 20
people  directly  and  some  50 people  indirectly.  Talvivaara  is currently in
discussions  with  leading  companies  in  the  industry  regarding  a potential
cooperation  for this  project, after  which its  final financing  and operating
model will be determined.

The  uranium oxide generated in the  solvent extraction process will be packaged
in  airtight steel containers and transported for further processing, subject to
appropriate   supervision.   The  product  purchaser  will  handle  the  further
processing  into nuclear fuel abroad, since  Finland does not currently have any
conversion  or enrichment plants for uranium. Production is controlled by strict
national and international regulations and continuous monitoring which guarantee
safe  operation. The  volumes produced  by Talvivaara  would make Finland almost
self-sufficient with respect to uranium.

CEO  Pekka Perä  commented: "The  current project  looks at  exploiting valuable
metals  present in our ore  body as by-products, as  provided for by the Finnish
mining   legislation.   The   development   of  our  solvent  extraction  method
demonstrates  the  innovative  skills  of  our  internal team and of our partner
organisations  and is  a perfect  fit with  our strategy of carefully recovering
precious and useful substances from our ore.

The  recovery of uranium is a major achievement for both Talvivaara and its home
province,  Kainuu, further increasing the value, importance and vitality of this
project."

Enquiries:
Talvivaara Mining Company Plc. tel. +358 20 712 9800
Pekka Perä, CEO,
Saila Miettinen-Lähde, CFO
Lassi Lammassaari, Chief Operations Officer

Press conference (in Finnish)
Time: Tuesday 9 February 2010 at 2.30 p.m.
Location: Scandic Kajanus, Meeting Room 3
Present: Talvivaara representatives
Pekka Perä, CEO
Eeva Ruokonen, Chief Sustainability Officer
Lassi Lammassaari, Chief Operations Officer

Local briefing event for citizens of Talvivaara's neighbouring region:
Time: Wednesday 10 February 2010 at 7.00 p.m.
Location: Sokos Hotel Vuokatti, Auditorium
Present: Talvivaara representatives
Pekka Perä, CEO
Eeva Ruokonen, Chief Sustainability Officer
Lassi Lammassaari, Chief Operations Officer
Heikki Kovalainen, Environmental Manager

Experts
Esko Ruokola, Chief Specialist, Radiation and Nuclear Safety Authority (STUK)
Dina Solatie, Head of Laboratory, Radiation and Nuclear Safety Authority (STUK),
Regional Laboratory of Northern Finland
Olli Äikäs, Geologist, Geological Survey of Finland


Presentation and backgraound information: www.talvivaara.com<http://www.talvivaara.com>

Talvivaara Presentation:
http://www.talvivaara.com/files/talvivaara/Uranium/Talvivaara_Uranium_presentati
on_09_02_2010_ENG.pdf


Talvivaara Mining Company Plc.
Talvivaara  Mining Company  aims to  become 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 sufficient  to support anticipated production  for at least 46
years.  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 signed 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.





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