Uzhuralzoloto – aiming to succeed

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01.09.2020

Uzhuralzoloto Group of Companies Appoints First Vice President

Joint Stock Company Uzhuralzoloto Group of Companies ("UGC") announces the appointment of Yuri Ryabov to the newly created position of First Vice President. He will be responsible for the development and implementation of the Group's strategy, as well as management of the current production activities. The areas of his responsibility will also include strengthening the interaction of the Group's assets, closer integration of its business processes, management of UGC’s investment projects and implementation of programmes to increase efficiency.

Yuri Ryabov graduated from the mining faculty of the Kazakh Polytechnic Institute and has over 36 years of experience in the mining industry. Prior to joining UGC, Mr. Ryabov has worked at the Baikal Mining Company as General Director of the Udokan project for over 3 years. Previously, he served as First Deputy General Director at Rosdragmet, the management company for Highland Gold.

“We have taken further steps to strengthen the management team, which will allow us to achieve our goals, including the introduction of modern technologies and implementation of a new technical policy, aimed at increasing production efficiency. I am confident that his joining UGC will foster further development of the company and its increased competitiveness”, said Konstantin Strukov, UGC President.

For more information
Please visit http://www.ugold.ru/en/ or contact:

UGC
Alexey Ivanov
Tel +7 903 797 7382
Email Alexey.Ivanov@ugold.ru

Citigate Dewe Rogerson
David Westover
Tel +44 7768 897722
Louise Mason-Rutherford
Tel +44 7932 681947
Email ursa@citigatedewerogerson.com

About UGC

UGC is one of Russia's largest gold mining companies, with a track record of growth over many years. It produced 450,000 oz of gold in 2019, generating revenue of over US$600m and significant cash flow. It has doubled production in the five years since 2014 and has mined 150 tonnes of gold over the last 22 years. UGC has a low cash cost per ounce, has built a portfolio of assets representing the third largest gold reserves in Russia, and constructed the largest processing plant in Russia (Svetlinskaya at Chelyabinsk). UGC is run by experienced mining professionals, with the current management team having been in place since 1997. It aims to maintain the best industry ESG standards and has a long record of cost-efficient production and successful investment in its business.