Name: Voro mine.

Location: The Voro mine is located about 370 km north of the regional centre of Ekaterinburg and 25 km south of the city of Krasnoturinsk, in Russia’s Sverdlovsk region.

Holding and Controlling Company: Polymetal International.

Brief Description: Voro is one of Polymetal’s very first key gold assets that comprises an openpit mine, a 950 000 t/d carbon-in-leach processing plant and a seasonal one-million tonnes a day heap-leach circuit that accommodate the processing of primary and oxidised ore.

Brief History: The deposit was first discovered in 1985. Polymetal acquired the company that held the mining licence for Voro in 1998.

Mining resumed in 1999 and the heap-leaching circuit for oxidised ore was launched in 2000.

The carbon-in-pulp (CIP) plant was commissioned with a capacity of 450 000 t/d in 2005 and the plant was expanded to 600 000t/d in 2007 by replacing three-stage crushing with one-stage crushing and semiautogenous grinding (SAG) milling.

The plant was further expanded to 940 000 t/d in 2008 by removing bottlenecks from thickening, leaching and filtration sections.

Mining started in 2010, on the new southern pit to extract ore from an extension of the main deposit.

Products: Gold.

Geology/Mineralisation: The Voro deposit is a fracture zone where the orebody generally lies in the footwall of the fault. The main mineralised zones occur within brecciated limestone and are erratic in shape, not visually identifiable and require dense grade control drilling for final delineation prior to mining.

A highly variable weathering pattern is developed across the deposit, with a broad oxidation surface developed to a depth of 65 m, but zones as deep as 100 m are developed where karstic features have formed in the limestone. An extension to the main Voro deposit of mainly oxide material has been outlined in the south.

Oxidised gold takes place mostly in free form. In primary ore, gold occurs in a variety of forms. These include free, intergrown with host minerals, associated with pyrite and attached to silicates. The highly variable mineralogy of primary ore requires careful selection of processing regimes.

Reserves: Total proven and probable reserves as at January 1, 2018, were estimated at 10.3-million tonnes grading 1.8 g/t gold.

Resources: Total measured and indicated mineral resources as at January 1, 2018, were estimated at one-million tonnes grading 2.5 g/t gold.

Mining Method: The Voro deposit is mined solely by openpit mining methods and this is expected to continue until the end of its mine life. Ultimately, the mine design is the excavation of a 240 m deep pit to the north and an 80 m shallow pit to the south.

A conventional truck-and-shovel method is used with drilling and blasting primarily used in the deep pit.

Major Infrastructure and Equipment: Voro uses two processes to extract gold from two types of ore. Oxidised ore is processed by heap leaching with a capacity of one-million tonnes a day, while primary ore is processed by milling/CIP with a capacity of 950 000 t/d.

The primary ore is crushed in a jaw crusher and further treated in a three-stage milling circuit (one SAG mill and two ball mills). A standby circuit, which operated before the expansion (three-stage crushing), is available during the SAG mill downtime. After milling, slurry is thickened and leached (about 48 hrs residence time) in a CIP circuit. Further processing includes desorption, electrolysis and smelting to doré. Tails are filtered and transported to a dry-stacking tailings storage facility immediately adjacent to the plant.

The primary and oxidised ore is stockpiled and blended near the pit and then transported to the processing facilities located 6 km away. Waste dumps are located 1 km to 2 km from the pit.

Prospects: Despite its current mature stage of operations and a planned decrease in production, Voro continues to demonstrate excellent operating and financial performances with significant contributions to free cash flow.

The company plans to continue exploring the gold deposit at Pesherny, that may significantly extend the life-of-mine and halt production decline at Voro.

Contact: Polymetal investor relations Eugenia Onuschenko.

Contact Details:

Polymetal International

Tel +44.20.7016.9506

Email ir@polymetalinternational.com

Website https://www.polymetalinternational.com/