EMED Mining Public Limited (the "Company" or "EMED Mining") is pleased to announce that its shareholders approved the resolution proposed at its Extraordinary General Meeting today as set out in the circular to shareholders dated 6 January 2010.

The resolution enabled the Company to grant options to subscribe for up to 10 million Ordinary Shares to Directors, the Company's employees and consultants and advisers to the Company ("Options").

10 million Options have been granted today as follows:

1,800,000 Options to the Managing Director;

1,200,000 Options to the Finance Director;

600,000 Options to the Chairman;

367,000 Options to each of the Non Executive Directors; and

5,300,000 Options to other employees, consultants and advisers of the EMED Mining Group.

The allocation of the above options was made by the Board at its meeting on 22 December 2009 and the Company's closing share price on that date was 10.75p per Ordinary Share. The Resolution approved by Shareholders authorises the Board to grant such Options at an exercise price of 13.4 pence per share to Directors, employees, consultants or advisers of the Company. The Directors consider that the exercise price of 13.4 pence, which is a 20 per cent premium to the volume weighted average price of the market price of an Ordinary Share on AIM between 1 December 2009 and 23 December 2009 inclusive, to be fair and reasonable. The Options are exercisable for a period of four years from the date of grant.

Speaking in Nicosia at a function attended by shareholders and leaders of Government, Civil Service, Diplomatic Corps and business, Managing Director Mr Harry Anagnostaras-Adams said:

"It is pleasing to record the strong support for our mission, launched in 2005, to establish a European mining company focused on copper and gold."

The Managing Director's presentation can be seen on the Company's website (by clicking here).  

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