Polymetal International plc: First JV with a ju...

Polymetal International plc (POLY)
Polymetal International plc: First JV with a junior explorer

01-Apr-2019 / 09:01 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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Release time	IMMEDIATEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â LSE, MOEX: POLY / ADR: AUCOY
Date	01 April 2019

Polymetal International plc

First JV with a junior explorer

Polymetal is pleased 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 Â

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

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