OREANDA-NEWS. OJSC Polyus Gold, Russia’s largest gold producer, today announced that the Board of Directors meeting held on February 16th, 2007 had reviewed the amended version of the geological exploration programme for the years 2007-2010.

According to the press service of “Polyus Gold”, basing on the exploration programme 2007-2010, Polyus Gold expects its mineral resources base to be increased to 3707 tonnes of gold reserves in C1+C2 categories and 1210 tonnes of resources in P1 category (Russian classification).

Commenting on the event, Polyus Gold CEO Evgueni Ivanov said: “In 2007 we plan to spend on exploration over $150 million. We have already seen our exploration efforts in Russia much rewarded with the discoveries of large hard -rock gold deposits such as Blagodatnoye in Krasnoyarsk region and Natalka in Magadan region”.