Page 1

Polymetals 22 OCTOBER 2021 QUARTERLY ACTIVITIES REPORT PERIOD ENDED 30 SEPTEMBER 2021 Australian - based gold exploration and mining company Polymetals Resources Ltd ( POL , Polymetals or the Company ) is pleased to provide its Quarterly Activities Report for the quarter ended 30 September 2021 ( Quarter ) . KEY HIGHLIGHTS 2021 Exploration drill program ( Phase 2 ) completed at Alahiné . 54 % assays received by quarter end . Key gold intersections include : ○ о ○ ○ ○ AH21ARC057 ▪ 8m @ 5.26 g / t Au from Om ( surface ) AH21ARC066 14m @ 1.14 g / t Au from 58 AH21ARC067 ■ 1m @ 7.12 g / t Au from 97m ( hole ended in mineralisation ) AH21ARC070 1m @ 13.00 g / t Au from 39m AH21ARC074 3m @ 1.31 g / t Au from 12m , ■ 10m @ 1.32 g / t Au from 57m , • ○ ■ 15m @ 0.92 g / t Au from 78m , and 7m @ 1.63 g / t Au from 95m AH21ARC075 1m @ 11.56 / t Au from 59m ( hole ended in mineralisation ) AH21ARC076 3m @ 1.25 g / t Au from 0m ( surface ) . Exploration team strengthened with Clive Hastings appointed Supervising Geologist . Site activities at Alahiné and Mansala remain unaffected by recent political situation . Page 1 of 17 Polymetals Resources Ltd | ACN 644 736 247 Suite 6 , Level 5 , 189 Kent Street , Sydney NSW 2000 www.polymetals.com | info@polymetals.com ASX : POL