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The Polymetallic Holding Group Seligdar (hereinafter referred to as the "Holding Group" or "Seligdar") (MOEX: SELG) and the Corporation for the Development of the Far East and the Arctic (hereinafter referred to as "KRDV") have agreed to cooperate on the construction of a mining and metallurgical complex at the gold deposit in Yakutia.

At the XI Eastern Economic Forum, Seligdar and KRDV signed an agreement to implement the project for the creation of a production and infrastructure complex at the Kyuchus gold deposit in the Republic of Sakha (Yakutia). The project will be implemented with the support of the preferential regime of the Russian Arctic Zone (AZRF).

The document was signed by Konstantin Beirit, founder of Seligdar PJSC, and Nikolay Zapryagayev, Chief Executive Officer of KRDV.

The design capacity of the production and infrastructure complex will be 10 tonnes of gold per year. The resource base of the Kyuchus deposit is 188.6 tonnes of gold.

 Konstantin Beirit, founder of Seligdar PJSC:

"Seligdar expands the scale of its operations every year, launching new projects and developing existing ones. Last year, we completed an ambitious task – the fourth gold processing plant and our most productive to date, Khvoynoye, was opened in the Aldan District of Yakutia. Kyuchus is our next key investment project for the gold mining division. Its successful implementation will allow us to multiply our annual gold production volumes. We have made significant progress on Kyuchus – the Holding Group's specialists, in collaboration with leading Russian and international companies, have identified a technology that enables efficient gold extraction from the deposit's refractory ore. It is worth noting that Seligdar has recently received confirmation from the State Commission on Mineral Reserves (GKZ) for the approval of Kyuchus reserves under permanent exploration standards, which effectively opens the way for the development of the deposit".