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EMED Mining's intention is to incorporate operating subsidiaries in the countries in which it intends to carry out its exploration activities. As at 31 December 2008, the subsidiaries of the Company were as follows: | Companies names | Country of incorporation | Effective proportion of shares held | | Eastern Mediterranean Minerals (Cyprus) Ltd | Cyprus | 95% | | Tredington Ventures Ltd | Cyprus | 95% | | Winchcombe Ventures Ltd | Cyprus | 95% | | Eastern Mediterranean Resources (Caucasus) Ltd | Georgia | 100% | | Georgian Mineral Development Company Ltd | Georgia | 100% | | Eastern Mediterranean Resources A.E (Greece) | Greece | 100% | | Eastern Mediterranean Resources Mining Armenia LLC | Armenia | 100% | | Eastern Mediterranean Resources Romania SRL | Romania | 100% | | Eastern Mediterranean Resources (Slovakia) S.R.O. | Slovakia | 100% | | Slovenske Kovy S.R.O. | Slovakia | 100% | | Slovenske Nerasty Spol S.R.O | Slovakia | 100% | | EMED Mining Spain S.L. | Spain | 100% | | EMED Tartassus S.L. | Spain | 100% | | EMED Marketing Ltd | Cyprus | 100% | | EMED Holding (UK) Ltd | United Kingdom | 100% |
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