OREANDA-NEWS. May 05, 2011. JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that the acquisition of a company holding the mining and exploration license for Kutyn gold deposit ("Kutyn") (the "Transaction") has been completed, reported the press-centre of Polymetal.

Details relating to Kutyn and an overview of the Transaction can be found in the announcement made by the Company on February 24, 2011.

ABOUT POLYMETAL
Polymetal is a Russian gold and silver miner with operations and development projects in Russia and Kazakhstan. The Company produced 0.75 million of gold equivalent ounces in 2010 and is targeting to increase its total production by 2012 mostly as a result of commissioning of the new projects, all of which are now under construction. A key element of Polymetal's strategy is creation of processing hubs with the goal to ensure the most efficient and responsible utilization of financial and human capital by treating ores and concentrates from various sources at centralized locations.