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Holding(s) in Company - (Flagging notification in accordance with Chapter 2, Section 10 of the Finnish Securities Market Act)

Holding(s) in Company - Flagging notification 8.4.2011

Stock Exchange Release
Talvivaara Mining Company Plc
8 April 2011

Holdings in Company (Flagging notification in accordance with Chapter 2, Section 10 of the Finnish Securities Market Act)

Talvivaara Mining Company Plc ("Talvivaara") has on 8 April 2011 received the attached flagging notification in accordance with Chapter 2, Section 9 of the Finnish Securities Market Act from Ilmarinen Mutual Pension Insurance Company ("Ilmarinen") regarding the shares of Talvivaara.

The holding of Ilmarinen in Talvivaara has increased, through share transaction concluded on 7 April 2011, to 12,494,775 ordinary shares of Talvivaara, representing in aggregate 5.09% percent of the issued ordinary share capital and total voting rights attached to shares in Talvivaara (over 5%).

Attachment
1. Name of the target company

Talvivaara Mining Company Plc

2. Basis for the flagging obligation

Share Transaction

3. Date when the holdings have changed

7 April 2011

4. Holdings of the target company's voting rights and share capital

Holding of Ilmarinen Mutual Pension Insurance Company in Talvivaara is as follows:

Shares and voting rights attached to them
Number of shares	% of shares	Number of voting rights	% of voting rights
12,494,775	5.09%	12,494,775	5.09%

5. Name of shareholder and business identification code
Ilmarinen Mutual Pension Insurance Company, Business ID 0107638-1

6. Additional information
Ilmarinen gave a flagging notification on 13 December 2010 concerning the number of shares and voting rights exceeding the threshold of 1/20 of the number of shares and voting rights in Talvivaara. In that time the number of the shares and voting rights was calculated by aggregating both the holding of the actual shares and the rights to subscribe shares on the basis of the convertible bonds.

The flagging notification on 8 April 2011 is given, because the direct shareholding of Ilmarinen has exceeded the threshold of 1/20. This calculation does not include the impact of convertible bonds.

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Talvivaara Mining Company Plc Tel: +358 20 7129 800
Saila Miettinen-Lähde, CFO
Pekka Erkinheimo, Chief Commercial Officer