It's a pretty poor (and complicated) circuit, and will only play for a short space of time - FAR, FAR easier to use a little 8 pin PIC and a little programming, with a P-Channel FET to switch the power to the MP3 player. I presume the 12V supply is a mistake?, as providing 12V to the usual MP3 players would kill them.
So 8 pin PIC, a small push button, a P channel FET, and perhaps a resistor or two - and that's the lot, and you can program it to give as long a delay as you like, and far more accurate delays than a 555 will give. When it times out, simply switch the FET off, and put the PIC to sleep - consumption is as close to zero as you would ever need, and pressing the button wakes it up again.