8 November 2005

Eastern Mediterranean Resources Public Limited ("EMED") announces that it is expanding its presence in Eastern Europe where it has already started field work in Slovakia by applying the latest low-detection gold prospecting techniques to initial target areas.

Five additional licences have been applied for - two in Slovakia and three in Hungary. These areas complement the two licence areas already held by the Company in Slovakia and form a portfolio focussed on volcanic settings analogous to certain parts of the Pacific Rim, where some world-class discoveries have been made in the past 30 years using the techniques being applied by EMED. The most important project within this emerging gold portfolio remains the world-class Stiavnica-Hodrusa mineral district in Slovakia.

At Stiavnica-Hodrusa, stream sediment, soil and rock chip sampling is currently underway with results expected in the current quarter. The Company's focus is on targets prospective for epithermal and porphyry-style gold mineralisation in this major mineral district and drilling has been scheduled for the second quarter of 2006, being after the spring thaw. At Zlatniky, stream sediment and rock chip sampling is underway upstream of historical placer deposits and results are also expected in the current quarter.

Harry Anagnostaras-Adams, Managing Director, commented "EMED's rapid progress in Eastern Europe, especially in Slovakia, has been very pleasing. An effective field team has been formed locally under the supervision of EMED's Country Manager-Slovakia, Juraj Knesl, and the guidance of Project Manager, Jim Cran, an epithermal specialist who has contributed to discoveries of gold deposits in the Pacific Rim and Eastern Europe".

Other EMED Activities

The focus of this announcement is on the establishment of a gold exploration portfolio in Eastern Europe. For good order, a brief update of EMED's other activities is given below.

• Cyprus exploration is proceeding on budget and on schedule for EMED to conduct its first drilling campaign this quarter. Three drill holes have been completed at the Klirou prospect and drilling has just started at the North Alestos prospect. It is too early to make any meaningful comment on the results of the program, other than at Klirou the geophysics need reinterpretation before drilling is continued and at North Alestos we have observed alteration at surface in the vicinity of one of the concealed targets.
• Exploration programs outside Cyprus are proceeding more rapidly than anticipated at the time of the IPO in May 2005, as evidenced in the Company's progress in Slovakia. This can largely be credited to the Company's excellent working relationships with the relevant administrations and regulators of certain countries.
• Finance: The successful continuation of this pace of expansion may trigger the introduction of equity finance in the relevant EMED subsidiary in respective countries.  EMED's projects are all currently structured to preserve the Company's right to redirect, curtail or withdraw spending at any stage without any material contingent liability.

Download the full announcement "EMED Establishes Gold Exploration Portfolio in Eastern Europe" (250KB pdf)