PolyMet land exchange with U.S. Forest Service to close June 28, 2018

Title transfer will consolidate surface and mineral ownership in and around NorthMet ore body

PolyMet Mining Corp. (“PolyMet” or the “company”) TSX:
POM; NYSE AMERICAN: PLM – today received notice from the U.S. Forest Service that the land
exchange between the agency and PolyMet will close June 28, 2018. Title transfer is central to
development of Minnesota’s first copper-nickel-precious metals mine.
“This administrative exchange gives us exclusive control of the land over our ore body and
provides a secure foundation on which we can complete project financing and permitting, build
the project, create hundreds of sustainable jobs, and bring these essential metals to market,”
said Jon Cherry, president and CEO.
In January 2017, the federal government issued a Record of Decision authorizing the land
exchange, determining it was in the best public interest.
The transfer of approximately 6,650 acres of federal lands to PolyMet consolidates surface land
and mineral ownership in and around the NorthMet ore body, near an area historically used for
mining and associated infrastructure. Likewise, PolyMet’s transfer of title of four tracts of
private land to the Forest Service totaling 6,690 acres helps consolidate Forest Service land
holdings in northeast Minnesota.
Upon title transfer, PolyMet’s total surface ownership rights will be approximately 19,000
contiguous acres (30 square miles) of land including the land at the mine and processing sites,
the transportation corridor connecting those sites, and surrounding buffer lands.