OREANDA-NEWS. September 27, 2013. Polymetal International plc (LSE, MICEX: POLY; ADR: AUCOY) (together with its subsidiaries, including JSC “Polymetal” – “Polymetal”, the “Company”, or the “Group”) is pleased to announce that LLC “Vostochny Basis” (VB), in which the Company owns 25%, won the contest for the subsoil use of the Tarutin copper property in Russia.

The Tarutin licence plot covers an area of 1.8 km2 and is located 28 km from the town of Chesma (population approximately 7,000) in the Chelyabinsk region of Russia and approximately 150 km by road from the Varvara copper-gold mining operation in Kazakhstan, which is owned by the Company. The infrastructure in the region where the licence area is located is well developed, with a railway station located 20 km from the deposit.

VB will pay 15 million roubles (approximately USD0.5 million) for the licence and undertakes to complete no less than 11,000 metres of exploration drilling during the first 4 years after the licence is issued.

Tarutin is a conventional copper-gold skarn mineralisation with approximately 260 Kt of copper contained in open-pittable P-1 resources (estimated by the Russian State Central Research and Scientific Geological Exploration Institute without reference to the JORC code requirements).