April 11, 2005, President of Polyus gold mining company Eugene Ivanov spoke at the 8th Russian Economic Forum in London . In his presentation he broke the news on interim exploration results of Polyus’ key asset – Natalka deposit in the Magadan region.

According to Ivanov, underground drilling program is nearly completed and 34000 meters drilling has been done. This makes Natalka resources of 29.5 billion oz highly probable. International reserves and resources audit of Natalka was carried out by SRK Consulting in January 2005, results are not yet announced.

Also two new 200 m high concentration ore bodies were discovered during exploration as wel las some 6.5 million oz of resources in the lower horizons have been added. Natalka exploration program started in summer 2004 and yet has some 120 000 m of surface diamond drilling and 6 000 m of underground drilling to go for on the flanks and lower horizons.

Eugene Ivanov said that the company is satisfied with interim Natalka exploration results. The data received gives hope for a higher gold concentration in ore and further increase of Natalka resources.