Market Overview

Rep. Nolan Introduces Land Exchange Legislation for PolyMet NorthMet Project

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PolyMet Mining Corp. (TSX:POM, NYSE MKT: PLM)) reports that U.S. Rep.
Rick Nolan, D-MN-8., has introduced bipartisan legislation to direct the
secretary of agriculture to move forward with the land exchange between
PolyMet and the U.S. Forest Service.

The Forest Service authorized an administrative land exchange for the
PolyMet Mining NorthMet Project in its Final Record of Decision January
9, 2017. The purpose of House Resolution 3115, The Superior National
Forest Land Exchange Act of 2017, is to accelerate transfer and provide
certainty of process. The bill was introduced June 29, 2017 and referred
to the House Natural Resources Committee.

"We are committed to moving the project forward in a thoughtful and
expeditious manner and are pleased Congressman Nolan is taking this step
to bring closure to the land exchange process," said Jon Cherry,
president and CEO. "In this legislation, Congress would ratify the
Forest Service's determination that the exchange is in the best public
interest and moves for the exchange to be completed within 90 days of
the bill's enactment."

The environmental review for the NorthMet Project and land exchange was
the largest and longest in Minnesota history, concluding after 10 years.
The Final Environmental Impact Statement demonstrates that the NorthMet
Project is capable of meeting all applicable state and federal
environmental standards.

PolyMet is seeking to permit, build and operate the NorthMet
copper-nickel-precious metals project located in the established Mesabi
Iron Range mining district in northeastern Minnesota. The land exchange
was proposed jointly by the Forest Service and PolyMet in 2010 to
consolidate their respective land ownerships.

The terms of the land exchange proposed in The Superior National Forest
Land Exchange Act of 2017 are the same as those found in the
administrative land exchange: PolyMet receives approximately 6,650 acres
of surface land above and around its NorthMet ore body near an area
heavily used for mining and mine infrastructure; in exchange, the
Superior National Forest receives four parcels of land totaling 6,690
acres currently owned or controlled by PolyMet that will become part of
the Superior National Forest. The difference is that the $425,000
equalization payment owed PolyMet by the Forest Service as a result of
the administrative exchange would be waived by the company in the
legislative exchange.

The company will continue its involvement in the administrative steps to
complete the land exchange transaction while the bill is under
consideration.

Neither the administrative land exchange, nor a legislative exchange
would permit or approve construction of the NorthMet mine. Mine
development and operations remain subject to regulation and permits
issued by the State of Minnesota and the U.S. Army Corps of Engineers,
among others. Those state and federal agencies are currently reviewing
and processing permit applications for the project, including the
comprehensive Permit to Mine application.

Original cosponsors of the bill include House Agriculture Committee
Ranking Member Collin Peterson (D-MN) and fellow Minnesotans Tom Emmer
(R) and Jason Lewis (R). The bill also has the support of a number of
key House Natural Resources Subcommittee leaders, including Energy and
Mineral Resources Chairman Paul Gosar (R-AZ), Federal Lands Chairman Tom
McClintock (R-CA), Federal Lands Vice Chairman Bruce Westerman (R-AR),
and senior House Natural Resources Members Scott Tipton (R-CO) and Doug
Lamborn (R-CO).

A more detailed description of the exchange lands and benefits can be
found at: http://polymetmining.com/northmet-project/land-exchange/

About PolyMet

PolyMet Mining Corp. (www.polymetmining.com)
is a publicly-traded mine development company that owns 100 percent of
Poly Met Mining, Inc., a Minnesota corporation that controls 100 percent
of the NorthMet copper-nickel-precious metals ore body through a
long-term lease and owns 100 percent of the Erie Plant, a large
processing facility located approximately six miles from the ore body in
the established mining district of the Mesabi Iron Range in northeastern
Minnesota. Poly Met Mining, Inc. has completed its Definitive
Feasibility Study. The NorthMet Final EIS was published in November
2015, preparing the way for decisions on permit applications. The
NorthMet Project is expected to require approximately two million hours
of construction labor, create approximately 360 long-term jobs directly,
and generate a level of activity that will have a significant multiplier
effect in the local economy.

PolyMet Disclosures

This news release contains certain forward-looking statements
concerning anticipated developments in PolyMet's operations in the
future. Forward-looking statements are frequently, but not always,
identified by words such as "expects," "anticipates," "believes,"
"intends," "estimates," "potential," "possible," "projects," "plans,"
and similar expressions, or statements that events, conditions or
results "will," "may," "could," or "should" occur or be achieved or
their negatives or other comparable words. These forward-looking
statements may include statements regarding the ability to receive
environmental and operating permits, job creation, and the effect on the
local economy, or other statements that are not a statement of fact.
Forward-looking statements address future events and conditions and
therefore involve inherent known and unknown risks and uncertainties.
Actual results may differ materially from those in the forward-looking
statements due to risks facing PolyMet or due to actual facts differing
from the assumptions underlying its predictions.

PolyMet's forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements are
made, and PolyMet does not assume any obligation to update
forward-looking statements if circumstances or management's beliefs,
expectations and opinions should change.

Specific reference is made to PolyMet's most recent Annual
Information Form for the fiscal year ended January 31, 2017 and in other
filings with Canadian securities authorities and the U.S. Securities and
Exchange Commission, including the Company's Form 6-K providing
information with respect to operations for the three months ended April
30, 2017, for a discussion of some of the risk factors and other
considerations underlying forward-looking statements.
The Annual
Information Form contains the Company's mineral resource and other data
as required under National Instrument 43-101.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

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