Polymet Mining Corp (PLM)

[Connsm]

Polymet GOALS AND OBJECTIVES FOR THE NEXT TWELVE MONTHS

The environmental review and permitting process is managed by the regulatory agencies and, therefore, timelines are not within PolyMet’s control. Given these circumstances, PolyMet’s objectives include:

Completing the approved land exchange with the USFS and transferring of title to the surface rights over and around the NorthMet mineral rights to PolyMet.
Obtaining a decision by the state on 401 Water Quality Certification and U.S. Army Corps of Engineers Final ROD and 404 wetlands permit under the Clean Water Act.
Publication of draft state permits (Permit to Mine, air, water, dam safety and water appropriation permits) for public comment.
Decisions on state permit issuances.
Completion of definitive cost estimate and project update following permits.
Completion of project implementation plan.
Repayment, restructuring, and/or conversion of Glencore loans.
Completion of construction finance plan including commitment of debt prior to the issuance of permits, subject to typical conditions precedent such as receipt of key permits.