Market Overview

PolyMet Completes 6700-Acre Land Exchange with U.S. Forest Service

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Title transfer unites surface and mineral rights for the NorthMet ore
body

The U.S. Forest Service and Poly Met Mining, Inc., a wholly-owned
subsidiary of PolyMet Mining Corp. (together "PolyMet" or the "company")
TSX: POM; NYSE AMERICAN: PLM – today exchanged titles to federal and
private lands, completing an administrative land exchange that is
central to development of Minnesota's first copper-nickel-precious
metals mine.

"With land title from the Forest Service, we now have the secure
foundation on which we can complete development of this project," said
Jon Cherry, president and CEO.

The transfer of surface rights to approximately 6,650 acres of federal
lands to PolyMet gives the company control over both surface and mineral
rights in and around the NorthMet ore body, which is 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 further consolidates the Superior National
Forest's land holdings in northeast Minnesota.

With the exchange, PolyMet has total surface rights, including ownership
and other use and occupancy rights, to 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 buffer.

Title transfer comes 17 months after the Superior National Forest issued
a Record of Decision authorizing the land exchange, determining it was
in the best public interest.

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 Environmental Impact Statement 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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