RUSSIAN AMBASSADOR TO ARMENIA VISITS GEOPROMINING PLANT

YEREVAN, August 16. / ARKA /. GeoProMining, a diversified international
mining group (GPM or the Company), said today that Ambassador of
the Russian Federation to the Republic of Armenia, Ivan Volynkin,
has visited one of GPM's Armenian assets - the Ararat gold extraction
plant. During the tour around the facility Mr. Volynkin visited the
production site and met the management of GPM Gold to discuss the
current state of affairs and prospects of the company's development
in Armenia.

Mr. Volynkin was appointed Ambassador of the Russian Federation in the
Republic of Armenia in May 2013 and this is his first visit to the
production sites of GeoProMining, which is a major Russian investor
to Armenia. The Ararat gold extraction plant is currently undergoing
a large-scale modernization, which includes the construction of a
new ore processing line using innovative Albion technology. This
project when completed will increase the plant's production volumes
and efficiency several times.

"It has been very interesting to get to know GPM's activities in
Armenia. I am pleased with both business and social aspects of
its performance in the country. Its transparency, reliability,
competitiveness and, definitely, its great personnel are the
key indicators of the company's great prospects in Armenia. I am
confident that as an advanced business that is making its considerable
contribution to a wide range of the Russian-Armenian relations GPM
will be developing further in the interests of friendship and for the
benefit of our nations. It will be my pleasure to keep in contact with
the management and the employees of the company," said the Ambassador.

"We are always pleased to welcome honourable guests at our plant. For
many years GPM has been maintaining close working ties with the
Russian diplomatic mission in Armenia. We have been conducting joint
social projects and participating in promoting the Russian language in
Armenia. GPM is grateful for the granted support and as a good-faith
investor we are happy to contribute to strengthening the relationships
between Russia and Armenia," said Vladimir Kozlov, CEO of GPM Gold,
one of GPM's assets in Armenia.

GeoProMining, founded in 2001, is an international, privately held
company with a diversified base of gold and other metals assets.

GeoProMining has mining businesses in Armenia and the Russian
Federation. -0-

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From: Emil Lazarian | Ararat NewsPress