26 October 2009

EMED Mining Public Limited (“EMED Mining” or “the Company”), the European-based minerals exploration and development company, is pleased to provide shareholders with a summary of the Company’s activities for the three month period ending 30 September 2009.

Key Points

Rio Tinto Mine (“Proyecto Rio Tinto” or “PRT”) – Copper in Spain:
In-principle support was given by the Junta de (Government of) Andalucia for the Company’s proposals and all local community municipalities have formally declared their support for the project and the Company. These statements of support are subject to full due diligence and compliance with all regulatory requirements;

Copper prices have more than doubled since the beginning of the year to over US$6,000/tonne (€4,026/tonne) or $2.73/lb (€1.83/lb). At a copper price of $6,000/tonne, projected net operating cash flow is estimated to average €67 million (£60 million) per year under the current development plan;

The Company target to be commissioning production by the end of 2010 is based on:

• approval of the Environmental Impact Assessment during the normal eight-month period up to the end of Q1-2010, having submitted it in July 2009;
• approval of other regulatory applications in an appropriate sequence. The administrative approval of the transmission of mineral rights remains an important  formal step and there are some important procedural issues still being resolved in relation to this matter; and
• triggering the Project Execution Plan in the second half of 2010 requiring, among other things, prior shareholder and financier approvals.

Detva Gold Project – Gold in Slovakia:
AMC Consultants have recently completed the Biely Vrch Scoping Study, which indicates a positive base case scenario at current gold prices;

The Company has identified exploration potential at Biely Vrch Deeps and other prospects.

Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:
“The recovery of our industry has continued over the past few months and our Company’s projects have attained increased economic importance in their respective regions which are suffering economic downturns due to the global financial crisis.
“In Spain we are working with the authorities to facilitate the start-up of production at the Rio Tinto Mine by the end of 2010. The due diligence is taking longer than we anticipated but the intention of the Andalucian Government has been made clear.
“In Slovakia we have commenced preparing permit applications for development of the Biely Vrch Gold Deposit in 2012. We have been welcomed in both Spain and Slovakia as members of the community and work well with the regulatory authorities.
“Both projects have expansion potential. We are focused on developing both of them to their optimum in full compliance with European Union and Company environmental and mining policies. The implementation of these projects will make economic contributions to their regions with the expenditure of approximately €100 million per year at Rio Tinto in the Huelva region of Andalucia and €20 million per year at the Biely Vrch Project near Detva in Central Slovakia.”

..,.the announcement continues. Read EMED Mining's Quarterly Report for the Three Months to September 2009 (421KB pdf).