Polymetal is conducting exploration in four regions of Russia: the Magadan Region, the Khabarovsk Territory, the Sverdlovsk Region and the Chukotka Autonomous Okrug. Its portfolio of projects contains 42 licenses covering a territory of over 8,500 sq. km.

According to Company estimates, future exploration work on the flanks of existing mines and at new prospective sites will allow Polymetal to increase its gold reserves to 8Moz. and its silver reserves to 600 Moz. by 2011.

The Company plans to increase its mineral resources from 7 Moz. to 12 Moz. of gold and from 300 Moz. to 800 Moz. of silver by the end of 2010 using in-house exploration campaigns and acquiring new assets.

 The Company's exploration campaigns have the following two goals:

• Uncovering additional mineral resources at existing mining units in order to prolong their long-term production prospects.
• Discovering mineable ore deposits of precious metals at other sites in order to provide the Company with new production assets.

The search for and development of deposits is conducted by the Company's specialized exploration subsidiaries.

Click below for details on Ore reserves and mineral resources Statement

Click below for details on List of Subsoil Licenses