Polyus Gold International Limited (LSE - PLGL, OTC (US) - PLZLY, PGIL or the "Company"), the largest gold producer in Russia, today releases its preliminary operating results for the first quarter of 2012.

Highlights

• Refined gold production up by 27% year-on-year to 328 thousand ounces (first quarter of 2011: 258 thousand ounces)
• Olimpiada gold output up by 42% year-on-year as a result of improved recovery rates
• Verninskoye ramp up continuing as planned: all the equipment has arrived in Russia, and installation is well underway
• Natalka construction on track with 85 items of construction equipment delivered on site and 50 items of mining equipment procured
• A significant increase in the resource base reaffirming the Company's growth strategy

German Pikhoya, Chief Executive Officer of Polyus Gold, commented:

"I am pleased to announce yet another impressive set of results delivered by Polyus Gold on the back of improved performance by our established operations at Olimpiada and Kuranakh, as well as a steadily increasing contribution from Blagodatnoye. With a 27% organic year-on-year increase in production and good progress at our development projects, supported by a substantial increase in mineral base, Polyus Gold remains well positioned to continue to deliver on its growth plans."



Enquiries:

Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 208 528 14 50 ir@polyusgold.com

Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 208 528 10 20 lavrinenkosn@polyusgold.com


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