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15

New Gold Polar Deposit To Be Developed

Russian mining company Pokrovskiy Pit plans to launch gold mining

Russian gold mining company Pokrovskiy Pit plans to launch gold mining at Novogodnee-Monto, which is located about 1 km from the Obskaya-Bovanenkovo railway, Yamalo-Nenetckiy region. The production is expected to start in March 2007.

It is intended to mine 4 tons of gold annually at the deposit. The deposit?s resources are estimated at 170 ? 250 tons.

Novogodnee Monto ((New Year Monto) was discovered in December 2003.