Polymet Mining Corp (PLM)

[Robert H]

PolyMet Announces Results of Shareholders' Meeting

HOYT LAKES, MINNESOTA--(Marketwire -07/11/12)- PolyMet Mining Corp. (POM.TO)(PLM) ("PolyMet" or the "Company") is pleased to announce that the resolutions presented to shareholders were passed at the Company's Annual General and Special Meeting of Shareholders held on July 10, 2012.

The number of directors of the Company was set at eight and includes re-election of Ian Forrest, Frank Sims, David Dreisinger, Alan Hodnik, William Murray, Steve Rowland, Joseph Scipioni, and Michael Sill to the Company's board of directors.

PricewaterhouseCoopers LLP was re-appointed as auditors of the Company.

Subject to final TSX approval, the 2007 Omnibus Share Compensation Plan (the "Plan") was amended and restated to (a) amend the number of common shares reserved for issuance, (b) increase the maximum term of expiry from seven (7) years to ten (10) years in respect of which stock options may be granted; and (c) clarify the definition of "Market Price". The Plan and all unallocated options or awards entitled to be granted thereunder, was reapproved. The extension of the expiry date of all stock options outstanding as at July 10, 2012 to ten (10) years from the original date of grant was also approved.

The board decided, pending further consideration, to withdraw the proposal to authorize Preferred Shares; a vote was not held on this matter.