Mangazeya Mining : Announces Changes in its Board

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TORONTO, ONTARIO, April 28, 2017 - Mangazeya Mining Ltd. ('Mangazeya' or the 'Company') (MGZ.H) is announcing changes in the Board of Directors.

Mr. Yanchukov has resigned as the Director, Chairman of the Board of Directors of the Company, but he will continue to be actively involved in the Company's activities as the new Chief Executive Officer, where he will be primarily focusing on the operations of Mangazeya Mining Ltd.

Mr. Roman Kashuba has resigned as the Chief Executive Officer. The Company thanks Mr. Roman Kashuba for his service as Chief Executive Officer of the Company and wishes him the best in his future endeavors.

Ms. Liudmila Arutiunian possesses adequate financial and business knowledge to satisfy the requirements applicable to the Chairman of the Board of Directors of the Company. Mangazeya Mining Ltd. has appointed Liudmila Arutiunian as its Chairman of the Board of Directors.

Mr. Nikolai Kudiiarov has been appointed as the Director, member of the Board. Mr. Nikolai Kudiiarov possesses extensive business expertise in the mining industry and previously worked at Polymetal International plc, Vertex Mining, Novosibirsk Tin Works, Navoi Mining and Metallurgical Combine, Closed Joint Ore Mining Company «Sukhoi Log» «Polyus Gold» Gold Mining. Nikolai Kudiiarov joined Mangazeya Group in 2015 as the Chief Processing Engineer, Deputy CEO for Gold Mining.

Mr. Georgy Kandelaki has been appointed as the Corporate Secretary of the Company. Georgy has previously worked at Gazprom Drilling LLC, A101 Development Company, Hellevig, Klein & Usov Law firm and other major Russian law firms. Georgy Kandelaki joined Mangazeya Group in 2015 as the Lawyer of International Affairs Department. Mr. Grigory Balashov has resigned as the Corporate Secretary. The Company thanks Mr. Balashov for his service.

Mangazeya Mining Ltd. is a NEX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:
Georgy Kandelaki
Corporate Secretary
Mangazeya Mining Ltd.
g.kandelaki@mangazeya.ru
+7 499 277 1111