Talvivaara Mining Company Plc - Uranium Permitting Update

Stock Exchange Release

Talvivaara Mining Company Plc

3 April 2012



                      Talvivaara Uranium Permitting Update



Talvivaara  Mining Company Plc  ("Talvivaara" or the  "Company") has today on 3
April  2012 been  verbally  informed  by  the  Northern  Finland  Regional State
Administrative  Agency  that  the  Company's  Environmental  Permit  for uranium
extraction  ("Uranium  Permit")  and  the  general  update  of Talvivaara mine's
Environmental Permit are to be processed together.

According  to  the  Northern  Finland  Regional  State Administrative Agency the
hearing  time  for  the  general  update  of  the mine's Environmental Permit is
anticipated  to start  in the  beginning of  May. Another  hearing time  for the
Uranium Permit will commence concurrently. All statements and opinions submitted
during the first hearing time will remain valid.

As  there will be  a second hearing  time for the  Uranium Permit and it will be
processed  together with the general update  of the mine's Environmental Permit,
the  Company expects a minor delay in  the uranium permitting process. While the
Company  has previously  announced that  it expects  the decision on the Uranium
Permit  during Q2 2012, the permitting  authorities have now informed Talvivaara
that  a decision on the Uranium Permit will be made during 2012. Talvivaara aims
to  start uranium recovery  in 2012, as soon  as all the  necessary permits have
been obtained.

General information about Talvivaara's uranium recovery project

On  1March 2012 the Finnish Government  granted a license  to Talvivaara Sotkamo
Ltd. to extract uranium as a by-product from its existing operations. The permit
pursuant  to the Nuclear  Energy Act is  valid throughout the  life of the mine,
however, no longer than until the end of 2054. An appeal against the decision of
the  Finnish Government has been launched  with the Supreme Administrative Court
by an organization for environmental protection.

Talvivaara  will invest EUR  45-50 million in the  recovery of uranium, of which
Cameco Corporation, according to the off-take agreement approved by the European
Commission,  will  cover  a  maximum  of  USD  60 million in the form of advance
payments. During the construction phase, the project will employ several hundred
people,  and  the  operational  plant  will  employ  20 people  directly  and an
additional 50 indirectly.


ENQUIRIES
Talvivaara Mining Company Plc. Tel: +358 20 7129 800
Pekka Perä, Chief Executive Officer

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.

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