OREANDA-NEWS. April 28, 2014. Polyus Gold International Limited (LSE - PGIL, OTC (US) - PLZLY, “PGIL”, “Polyus Gold” or the “Company”), the largest gold producer in Russia, today releases its operating results for Q1 2014.

Highlights

Refined gold production increased 3% year-on-year to 331 thousand ounces

Significant increase in gold production at Olimpiada (+7%), Verninskoye (+187%) and Kuranakh (+8%)

On track to meet 2014 guidance for gold production of between 1.58 and 1.65 million ounces

Estimated gold sales of USD 447 million, a 15% decrease from Q1 2013 and after a 20% decline in the Company’s weighted average gold selling price.

Pavel Grachev, Interim Chief Executive Officer of Polyus Gold, commented:

“I am pleased to report another strong set of operating results delivered by Polyus Gold. In the first quarter of 2014 the Company achieved a 3% growth in gold production year-on-year, amid our continued drive to reduce costs and enhance efficiency.

This production increase was a result of ongoing operational improvements at Olimpiada and Kuranakh and the achievement of design throughput by Verninskoye.

We are on track to meet our 2014 production guidance and continue to focus on efficiency improvements across the business with the aim of translating them into an even more robust financial position in the current challenging gold price environment.”