20th Feb 2008 17:01
OJSC Polyus Gold20 February 2008 For immediate release Moscow, February 20, 2008 Polyus Gold obtains new exploration licennes in Irkutsk region. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer,obtained 5 new licence fields for alluvial gold in Bodaibo. The licences wereacquired though a number of auctions by ZAO ZDK Lenzoloto, which is awholly-owned subsidiary of OJSC Polyus Gold. The combined reserves potential of the fields is estimated as 1.3 tonnes (42 k oz) of gold The licence area of Ruchei Illigiri located 60 km of Bodaibo is 7.4 km. Theareas of Nygri River are located 110 km to the North of Bodaibo, the combinedlicence area of the two fields is 4 km. The Licence area of Gromovsky Stream is located 45 km from Bodaibo, the totalarea is 6.5 km. The area of Tyoply stream (4.6 km) is located 56 km fromBodaibo. According to the General Director of Polyus Gold Evgueni Ivanov, the company isintending to further increase its alluvial gold production. In 2007 the companyproduced 5.6 tonnes (180 k oz) of gold from alluvial deposits, compared to 5.3tonnes (170 k oz) in 2006. "Growing the alluvial mineral resources base is apart of a larger programme to develop alluvial gold production, beingimplemented by Polyus Gold". Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow,Polyus Gold's operating mines and development/exploration projects are locatedin five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan,Amur regions and the Republic of Sakha (Yakutia). The company produced 1.2 m ozof gold in 2007. For further information please contact For investors: Alexey V. Chernushkin, Director, CM and IREvguenia V.Buydina, IR manager+7(495) 641-3377+7(495) [email protected] For press: Victoria V. Vergelskaya, PR DirectorElena D. Evstigneeva, Media Relations+7 (495) 641-3365+7 (495) 544-5496 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PLZL.L