Market Overview

PolyMet Land Exchange Bill Passes U.S. House, Advances to Senate

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PolyMet Mining Corp., ("PolyMet" or the "company") TSX: POM; NYSE
AMERICAN: PLM – announces that House Resolution 3115, the Superior
National Forest Land Exchange Act of 2017, today passed the U.S. House
of Representatives on a bipartisan 309 to 99 vote and advances to the
Senate.

The Forest Service authorized an administrative land exchange for the
PolyMet Mining NorthMet Project in its Final Record of Decision January
9, 2017.

The bipartisan bill, introduced by U.S. Rep. Rick Nolan, D-MN-8 in July,
directs the secretary of agriculture to move forward with the land
exchange between PolyMet and the U.S. Forest Service. In passing the
legislation, the House ratifies the Forest Service's determination that
the land exchange is in the best public interest. The bill calls for the
exchange to be completed within 90 days of its enactment.

"We are grateful to Rep. Nolan, the bill's co-sponsors, and House
leadership for their efforts to move this legislation forward," said Jon
Cherry, president and CEO. "While neither the legislative nor the
administrative exchange would permit or approve construction of the
mine, Congressional approval for the exchange provides certainty of
process in developing the project by finalizing the land transfer."

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 bill's co-sponsors are: House Agriculture Committee Ranking Member
Colin Peterson (D-MN) and fellow Minnesotans Timothy Walz (D), Tom Emmer
(R) and Jason Lewis (R); and 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).

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 former LTV Steel Mining
Company site, 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 risk factors and other considerations
underlying forward-looking statements discussed in PolyMet's most
recent Annual Report on Form 40-F for the fiscal year ended January 31,
2017, and in our other filings with Canadian securities authorities and
the U.S. Securities and Exchange Commission, including our Report on
Form 6-K providing information with respect to our operations for the
three and six months ended July 31, 2017.

The Annual Report on Form 40-F also 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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