March 5, 2018 / 7:12 AM / in 8 months

BRIEF-Petropavlovsk Announces Exploration Update and Resource Review

March 5 (Reuters) - Petropavlovsk:

* ESTIMATED EXPLORATION BUDGET FOR 2018 IS US$16M

* ANNOUNCES 0.67MOZ AU (C.8%) INCREASE (BEFORE DEPLETION)IN RESERVES AND 1.17MOZ AU (C.6%) INCREASE (BEFORE DEPLETION) IN RESOURCES IN 2017

* ANNOUNCES 1.17MOZ INCREASE IN JORC RESOURCES (BEFORE DEPLETION) IN 2017

* ANNOUNCES 0.66MOZ INCREASE IN JORC NON-REFRACTORY RESERVES (BEFORE DEPLETION) IN 2017

* ANNOUNCES 16% INCREASE IN TOTAL RESERVES FOR UNDERGROUND MINING FROM 0.37MOZ TO 0.43MOZ AND A 26% INCREASE IN UNDERLYING MINERAL RESOURCES FROM 0.74MOZ TO 0.93MOZ IN 2017 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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