ISE Irish Stock Exchange : PJSC Polyus guarantee

For immediate release 23 January 2017

Polyus Gold International Limited

PJSC Polyus to become a guarantor under Polyus Gold International Limited's notes

Polyus Gold International Limited ('PGIL') announces that the Board of Directors of its subsidiary PJSC Polyus has approved granting of the unconditional and irrevocable guarantee under the USD 500 million 4.699% guaranteed notes due 28 March 2022 (the 'Notes'). The Notes were issued by PGIL on 26 October 2016.

The transaction is in line with the terms and conditions of the Notes, according to which PJSC Polyus was to become a guarantor under the Notes not later than 24 April 2017. The Notes are also guaranteed by JSC Polyus, a key operating subsidiary of PJSC Polyus.

Forward looking statements

This announcement may contain 'forward-looking statements' concerning PGIL. Generally, the words 'will', 'may', 'should', 'could', 'would', 'can', 'continue', 'opportunity', 'believes', 'expects', 'intends', 'anticipates', 'estimates' or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressedin the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of PGIL's operations. Many of these risks and uncertainties relate to factors that are beyond PGIL's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. PGIL assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.