Talvivaara Share Subscriptions Based on Conversion of the Convertible Bonds and Stock Options 2007A

Stock Exchange Release

Talvivaara Mining Company Plc.

11 May 2011



Share  Subscriptions  Based  on  Conversion  of  the Convertible Bonds and Stock
Options 2007A


On  16 December 2010, Talvivaara  Mining Company  Plc. ("Talvivaara") issued EUR
225 million  in senior unsecured  convertible bonds due  2015 (the "Bonds"). The
extraordinary  general meeting of shareholders  of Talvivaara held on 27 January
2011 approved the issue of special rights in respect of the Bonds.

In  March 2011, Talvivaara received a conversion  notice pursuant to which Bonds
amounting  to EUR 1,800,000 are  converted to a  total of 215,736 new Talvivaara
shares  (the "Conversion Shares"). As  a result of the  conversion of the Bonds,
the  number of  Talvivaara shares  will increase  to 245,579,832. The Conversion
Shares  were registered in the  Trade Register on 11 May  2011, as of which date
the  Conversion Shares will carry shareholder  rights. Trading in the Conversion
Shares  will begin on NASDAQ OMX  Helsinki Ltd [(the "Helsinki Stock Exchange")]
on 12 May 2011.

In  addition  to  the  Conversion  Shares,  a  total of 187,378 shares have been
subscribed  for under Talvivaara's stock  option rights 2007A (the "Stock Option
Shares").  The Stock Option Shares have already  been admitted to trading on the
Helsinki  Stock  Exchange.  Talvivaara  will  now  apply  for  admission  of the
Conversion Shares and the Stock Option Shares to listing on the official list of
the  United Kingdom's  Financial Services  Authority and  to trading on the main
market  of the London Stock Exchange (the  "Admission"). It is expected that the
Admission  will take  place and  that trading  will commence  on or about 16 May
2011.


ENQUIRIES

Talvivaara Mining Company Plc. Tel: +358 20 7129 800
Pekka Erkinheimo, Chief Commercial Officer
Saila Miettinen-Lähde, Chief Financial 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 atwww.talvivaara.com.


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