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21 SEPTEMBER 2005  

Polus bought Yakut gold assets from ALROSA

CJSC Polus bought 99.2% of Aldanzoloto, 50% of South-Verkhoyansk Mining Company and 100% of OJSC Yakut Mining Company from ALROSA Investment Group. The companies bought exploit three gold deposits in the Sakha Republic (Yakutia): Kuranakhanskoe, Kyuchus and Nezhdaninskoe deposits. This information was provided by PR-department of CJSC Polus.

The total resources of the deposits are estimated at over 28 mln ounces. The purchase is a part of Polus strategic development plan aimed at becoming one of the world leading gold mining companies.

The cost of the deal will not exceed $285 mln, including $115 mln already paid.



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