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2014-05-21

Talvivaara's Corp. Reorg.: District Court has granted an extension to the deadlines for submitting proposals for the reorganisation programmes

Stock Exchange Release
Talvivaara Mining Company Plc
21 May 2014

Talvivaara's Corporate Reorganisation

The District Court has granted an extension to the deadlines for submitting
proposals for the reorganisation programmes

The District Court of Espoo has granted an extension to the deadlines for
submitting the proposals for the respective reorganisation programmes of
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") and its
operating subsidiary, Talvivaara Sotkamo Ltd, until 30 September 2014 as
applied by the court appointed corporate reorganisation Administrator.
According to the prior District Court ruling, the proposals for the
reorganisation programmes were to be submitted by 28 May 2014.

The Administrator and Talvivaara are engaged in discussions with potential
financing and industrial partners for a long-term financing solution for the
Talvivaara Group. Certain industrial and financial arrangements for the
continuation of operations of the Company and Talvivaara Sotkamo Ltd have
already been reached so that the restructuring programmes can be set up. The
extension was applied for as submission of the restructuring programme
proposals is not considered feasible until sufficient long-term financing has
been secured.

Enquiries
Talvivaara Mining Company Plc
Tel +358 20 7129 800

Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO

Pekka Jaatinen, Attorney-at-Law Tel +358 20 7765 765
Castrén&Snellman Attorneys Ltd

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.

District Court granted extension to submit proposals for reorg. prog.
http://hugin.info/136227/R/1787695/613946.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via Globenewswire

HUG#1787695

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