OREANDA-NEWS. On March 23, 2009 in response to the press speculation, JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announced that it is in discussions in relation to the purchase of OOO Rudnik Kvartsevyi, a Russian company which owns the mining license to the Sopka Kvartsevaya gold deposit in the Severo-Evensky district of Magadan region, Russia (the "Transaction"), reported the press-centre of Polymetal.

Discussions in relation to the Transaction are at an advanced stage and may or may not lead to an agreement being signed to effect the Transaction. The details of the Transaction and the structure by which it may be effected are yet to be agreed and approved by the Board of directors Polymetal.
 
A further announcement will be made by the Company in due course. Pending any further announcement Polymetal does not intend to comment further on the Transaction.