Polymetal International plc — M&A Activity 2019

Apr 1, 2019

01-Apr-2019 / 09:01 MSK

Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

Date 01 April 2019

Release time IMMEDIATE LSE, MOEX: POLY / ADR: AUCOY

Polymetal International plc

First JV with a junior explorer

Polymetal ispleased to announce its first strategic partnership with a junior for early-stage exploration in the Taimyr Peninsula, Russia ("Taimyr JV").

"We are excited to form a partnership with a team of talented and energetic geologists", said Vitaly Nesis, Group CEO of Polymetal. "The goal is to bring together Polymetal's financial and permitting clout and junior's fresh thinking and fast decision-making."

Polymetal will hold 70% in the Taimyr JV by way of an initial cash investment of US\$1.9 million towards an agreed field program that will commence after the receipt of all regulatory permits. The Company will have the option to increase its stake in the project to 100% following the completion of an initial JORC-compliant Mineral Resource estimate.

The prospective exploration area exhibits multiple traces of porphyry copper-molybdenum-gold mineralisation identified during historic reconnaissance activities.

Polymetal will continue to evaluate other investment opportunities and partnerships with junior explorers in Russia.

About Polymetal

Polymetal International plc (LSE, MOEX: 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.

Enquiries

Media		Investor Relations
FTI Consulting Leonid Fink Viktor Pomichal	+44 20 3727 1000	Polymetal Eugenia Onuschenko Timofey Kulakov	ir@polymetalinternational.com +44 20 7016 9505 (UK)
		Michael Vasiliev	+7 812 334 3666 (Russia)
Joint Corporate Brokers
Morgan Stanley Andrew Foster Richard Brown	+44 20 7425 8000	RBC Europe Limited Tristan Lovegrove Marcus Jackson	+44 20 7653 4000
Panmure Gordon Charles Lesser James Stearns	+44 20 7886 2500

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