POLY.L Regulatory News (POLY)

Polymetal International plc

New exploration JV with a junior in Chukotka

Polymetal formed a partnership with a company associated with Mineral Exploration Network (Finland) Ltd ("MEN") for early-stage exploration in the Chaunsk region of Chukotka, Russia.

"Our strategy of working with junior explorers is gaining momentum", said Vitaly Nesis, Group CEO of Polymetal. "MEN has extensive and varied experience in using advanced state-of-the-art methods of prospecting and grassroots exploration."

The objective of the JV is to discover high-grade near-surface gold mineralisation that can provide feed for the Mayskoye processing plant. The plant is capable for treating both sulphide ore through the flotation circuit and oxide ore through the CIL circuit.

Polymetal and MEN have entered into an agreement whereby:

MEN - is an experienced UK-based junior explorer with a strong track record of prospecting in Finland and Spain. MEN will assume responsibility for prospecting an area, which covers approximately 83 km2 in the Chaunsk region of Chukotka.

About Polymetal  

Polymetal International plc (LSE, MOEX, AIX: POLY, ADR: AUCOY) (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-20 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.

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