Krasnoyarsk Region

The Group’s exploration program in Krasnoyarsk region focuses on giant Olympiada deposit and its neighbour fields in order to maximize their resources, especially those in previously untouched areas. These works will enable Polyus to grow its resource base in the region significantly and develop deposits, which earlier were considered as not feasible for production.

Polyus Group’s exploration program in Krasnoyarsk for 2005-2010 envisages some $25 million of investments, more than anyone in Russia.

Olympiada

The deposit is being explored since 1978. First evaluation of its resources was conducted in 1985. Currently exploration works still are under way.

Blagodatnoe

The deposit was discovered in 1968. Evaluation of resources has been conducted by Polyus since 2000. Some 200 tons of C2 category reserves may be reported to the Russian State Commission on Reserves’ certification in 2Q 2005.

Titimukhta

First time exploration of the deposit was begun by Polyus in 2004 with the purpose of evaluating C1 and C2 category resources and prepare a feasibility study for open-pit mining.

Olenii

Reserves are being evaluated. Once production begins the ore will be processed by Olympiada plant.

Tyrada

Tyrada deposit is located 5 km west from Olympiada mine. It was discovered in 1976, exploration and reserves evaluation continued till 1987 and were resumed in 1997. At present exploration is carried out parallel to production.