Operations

Reserves and resources

Polyus reports its reserves and resources in accordance with the JORC Code 2012.

Polyus ore reserve estimates as at 31 December 20191

Deposit2 Proved Probable Total
Ore
(Mt)
Gold
(g/t)
Gold
(moz)
Ore
(Mt)
Gold
(g/t)
Gold
(moz))
Ore
(Mt)
Gold
(g/t)
Gold
(moz)
Mines in operation
Olimpiada 18 2.7 1.6 248 2.8 22.5 266 2.8 24.0
Blagodatnoye 62 0.8 1.7 143 1.6 7.2 205 1.3 8.8
Titimukhta 5 1.6 0.3 6.3 3.1 0.6 12 2.4 0.9
Verninskoye 14 1.4 0.6 75 1.7 4.0 89 1.6 4.6
Alluvials3 0 0.0 0.0 57 0.4 0.6 57 0.4 0.6
Kuranakh 0 0.0 0.0 117 1.1 4.1 117 1.1 4.1
Natalka 124 1.6 6.3 145 1.8 8.4 269 1.7 14.6
Development and exploration projects
Chertovo Koryto 0 0.0 0.0 62 1.5 3.1 62 1.5 3.1
Total4 224 1.4 10.3 854 1.8 50.5 1,077 1.8 60.8

Polyus mineral resource estimates as at 31 December 20195

Deposit2 Measured Indicated Inferred Total
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Mines in operation
Olimpiada 18 2.7 1.6 280 2.9 26.3 126 2.9 11.6 425 2.9 39.4
Blagodatnoye 62 0.8 1.7 269 1.5 12.9 69 1.3 2.9 400 1.4 17.5
Titimukhta 5 1.6 0.3 6 3.3 0.6 0 1.4 0.0 12 2.5 0.9
Verninskoye 14 1.4 0.6 201 1.6 10.0 14 2.0 0.9 228 1.6 11.5
Alluvials 0 0.0 0.0 194 0.2 1.1 34 0.4 0.4 228 0.2 1.6
Kuranakh 0 0.0 0.0 129 1.2 5.0 91 1.2 3.5 220 1.2 8.4
Natalka 129 1.7 7.1 259 1.8 15.4 147 2.1 9.9 536 1.9 32.4
Development and exploration projects
Sukhoi Log 0 0.0 0.0 374 2.4 28.3 588 1.9 35.0 962 2.1 63.3
Panimba 5 2.3 0.4 11 2.3 0.8 24 1.8 1.4 40 2.0 2.6
Poputninskoye 0 0.0 0.0 37 3.2 3.9 4 2.9 0.4 42 3.2 4.3
Zmeinoye 0 0.0 0.0 1 5.0 0.1 2 4.5 0.3 2.9 4.6 0.4
Chertovo Koryto 0 0.0 0.0 67 1.5 3.3 8 1.3 0.3 75 1.5 3.6
Bamskoye 0 0.0 0.0 15 1.8 0.9 5 1.6 0.3 20 1.8 1.1
Medvezhy 0 0.0 0.0 0 0.0 0.0 6 1.8 0.4 6 1.8 0.4
Total4 233 1.5 11.6 1,845 1.8 108.7 1,118 1.9 67.3 3,196 1.8 187.5

Polyus JORC Table 1

Sukhoi Log ore reserve estimates as at 31 May 20206

Deposit2 Proved Probable Total
Ore
(Mt)
Gold
(g/t)
Gold
(moz)
Ore
(Mt)
Gold
(g/t)
Gold
(moz)
Ore
(Mt)
Gold
(g/t)
Gold
(moz)
Sukhoi Log 0 0.0 0.0 540 2.3 40 540 2.3 40

Sukhoi Log mineral resource estimates as at 31 May 20207

Deposit2 Measured Indicated Inferred Total
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Tonnes
(Mt)
Grade
(g/t)
Gold
(moz)
Sukhoi Log 0 0.0 0.0 668 2.1 46 441 1.5 21 1,110 1.9 67

Sukhoi Log JORC Table 1


1 Using a gold price assumption of US$1,250/oz

2 The estimates for all deposits are presented on a 100% Polyus ownership basis

3 For the Alluvials, cubic metres (m3) have been converted to tonnages using the general bulk density factor of 1.85 t/m3 strictly for the purpose of the summary accumulations. Gold grades have been adjusted from g/m3 to g/t accordingly. Contained gold estimates are not affected.

4 Any minor discrepancies for sums in the table are related to rounding

5 Using a gold price assumption of US$1,350/oz

6 Using a gold price assumption of US$1,650/oz