Market Overview

PolyMet Land Exchange With U.S. Forest Service To Close June 28, 2018

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Title transfer will consolidate surface and mineral ownership in and
around NorthMet ore body

PolyMet Mining Corp. ("PolyMet" or the "company") TSX: POM; NYSE
AMERICAN: PLM – today received notice from the U.S. Forest Service that
the land exchange between the agency and PolyMet will close June 28,
2018. Title transfer is central to development of Minnesota's first
copper-nickel-precious metals mine.

"This administrative exchange gives us exclusive control of the land
over our ore body and provides a secure foundation on which we can
complete project financing and permitting, build the project, create
hundreds of sustainable jobs, and bring these essential metals to
market," said Jon Cherry, president and CEO.

In January 2017, the federal government issued a Record of Decision
authorizing the land exchange, determining it was in the best public
interest.

The transfer of approximately 6,650 acres of federal lands to PolyMet
consolidates surface land and mineral ownership in and around the
NorthMet ore body, near an area historically used for mining and
associated infrastructure. Likewise, PolyMet's transfer of title of four
tracts of private land to the Forest Service totaling 6,690 acres helps
consolidate Forest Service land holdings in northeast Minnesota.

Upon title transfer, PolyMet's total surface ownership rights will be
approximately 19,000 contiguous acres (30 square miles) of land
including the land at the mine and processing sites, the transportation
corridor connecting those sites, and surrounding buffer lands.

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. NorthMet
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 December 31,
2017, and in our other filings with Canadian securities authorities and
the U.S. Securities and Exchange Commission.

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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