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TORONTO, ONTARIO, November 28, 2016 - Mangazeya Mining Ltd. ('Mangazeya' or the 'Company') (NEX: MGZ.H) announced the filing of its unaudited interim condensed financial statements ('Financial Statements'), management's discussion and analysis - quarterly highlights ('QH') for the third quarter and nine months ended September 30, 2016. All figures are quoted in Canadian dollars unless otherwise indicated.

3Q 2016 3Q 2015 Change % 9m 2016 9m 2015 Change %
Operational highlights
Gold production, ounces 13,135 15,984 -2,849 -18% 21,245 21,050 195 1%
Gold sales, ounces 12,780 15,152 -2,372 -16% 19,382 18,454 928 5%
Ore mined, tones 322,778 416,830 -94,052 -23% 775,538 894,953 -119,415 -13%
Stripping ratio, m3/t 3.48 1.88 1.60 85% 4.13 2.86 1.27 44%
Ore stacked, tones 417,160 499,655 -82,495 -17% 953,725 968,682 -14,957 -2%
Ore grade in ore stacked, g/t 1.07 1.53 -0.46 -30% 1.21 1.43 -0.22 -15%
Financial highlights
Revenue, kCAD 21,509 23,195 -1,686 -7% 32,308 27,735 4,573 16%
Adjusted EBITDA, kCAD 11,575 11,270 305 3% 15,255 10,751 4,504 42%
Total cash cost per ounce (TCC), CAD, kCAD 611 614 -3 -1% 669 640 5%

Mangazeya Mining Ltd. published this content on 28 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 November 2016 13:55:58 UTC.

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