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

Highlights

• Refined gold production up by 18% year-on-year to 721 thousand ounces (first half of 2011: 611 thousand ounces)
• 28% increase in gold output at Olimpiada as a result of continuous improvement in recovery rates
• Significant increase in gold production at Blagodatnoye (+14%) and Kuranakh (+28%) on the back of sustained strong recovery rates and higher processing volumes
• Verninskoye ramp up continuing as planned, the commissioning of the full processing flow sheet underway
• Admission of Polyus Gold International shares to trading in the premium segment of the London Stock Exchange resulting in improved liquidity in the stock.

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

"I am pleased to report another excellent set of results for what has been a very important period for Polyus Gold both operationally and from the corporate perspective. With continuing improvement in recovery rates at Olimpiada, sustained increase in production at Blagodatnoye and Kuranakh and the ramp up of Verninskoye we are well positioned to consolidate our position as the largest London-listed gold producer both in terms of output and market capitalisation."

Conference call information

Polyus Gold will host an analyst conference call today at 2 pm London time to present and discuss the first half of 2012 operating results.

To join the conference call, please dial:

UK toll free 0800 694 2606
UK International +44 (0) 1452 556 664
USA toll free +1 877 327 2806
Russia toll free 8108 002 436 2044
Passcode: 10721115

A replay of the conference call will be available from 4 pm London time on 18 July 2012, for the duration of 7 days.

To access the replay, please dial:

UK toll free: 0800 953 1533
UK International: +44 (0) 1452 55 00 00
USA toll free: 1 866 247 4222
Access number: 10721115

Enquiries:

Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 203 585 35 37
 ir@polyusgold.com

Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37
 lavrinenkosn@polyusgold.com



Link to full announcement