Biely Vrch and Slovakia gold exploration update

AIM: EMED 03 March 2010

Biely Vrch and Slovakia Gold Exploration Update

EMED Mining Public Limited ("EMED Mining" or "the Company") is pleased to provide an update on the progress of the 100%-owned Biely Vrch Project towards development and the Company's 2010 gold exploration program in Slovakia.

Refinement of the Scoping Study for the Development of the Biely Vrch Gold Deposit

AMC Consultants has been mandated to refine the Biely Vrch Scoping Study with a view to achieving the following:

1. To adjust the siting of infrastructure to a layout optimised for social and economic parameters;

2. To improve project economics by refining the slopes of the planned open pit; and

3. To evaluate the potential for additional revenue to be generated by selling waste rock mined from the open pit for use in building roads.

The initial Scoping Study envisaged:

> mining three million tonnes of ore per annum at a low stripping ratio of 1:1;

> a recovered grade of 0.6 to 0.7g/t gold (which is a recovered grade, after mining and processing, similar to comparable gold porphyry mining operations internationally); and

> producing approximately 60,000 ounces per annum for 10 years.

The mine would employ approximately 120 people, require annual expenditure in the region of US$36 million and have attractive economics based on Scoping Study operating cost estimates (US$500 to US$600/ounce) and current gold prices (>US$1,100/ounce).

Biely Vrch has additional drill-confirmed potential below the current Mineral Resource (41.7 million tonnes at 0.79g/t gold, containing 1.1 million ounces). This depth potential is to be evaluated further after progressing the open-cut mine towards development. Of particular interest is the relatively higher grade core of the deposit which increases in grade with depth and remains open at depth.

Preliminary Environmental Impact Assessment for the Biely Vrch Gold Project

EMED Mining is currently considering the appropriate experts to mandate for the Preliminary Environmental Impact Assessment, which is to be submitted to the regulatory authorities during 2010. The Company is also seeking formal confirmation of support for its plans before proceeding to a full feasibility study and development planning. This is the regulatory roadmap agreed with the relevant authorities with whom EMED Mining is also discussing the royalty rate applicable to gold produced from the Biely Vrch Project.

Evaluation of Porphyry Gold Potential Elsewhere in Europe

The Company's successful search for porphyry gold deposits in the Central Slovakia Volcanic Field has led to sixteen such mineralised systems being examined, six being drill tested and the discovery of a 1.1 million ounce deposit with attractive economics based on Scoping Study investigations. All of this work has taken only four years and at a total cost of €5.4 (US$7.3) million. At a discovery cost of €5 (US$7) per resource ounce,this exploration effort has been efficient and cost effective.

More porphyry targets remain to be tested within the Central Slovakia Volcanic Field.

Third parties with gold projects in similar settings elsewhere in Europe have invited EMED Mining to consider forming alliances. A range of potential alliances with these other companies will be considered following technical evaluation of their gold projects.

Evaluation of Other Gold Mineralisation Styles in the Central Slovakia Volcanic Field 

The Company holds six exploration licences totalling 695km2 and until recently has focussed on the search for low-grade, bulk-mineable gold porphyry systems. Other known mineralisation styles include:

> Epithermal quartz stockworks;

> High-sulphidation epithermal systems; and

> Rozalia (a local gold mine) style mineralisation.

EMED Mining has an informal alliance with the Rozalia Mine on a small mining licence which is located within the Company's Hodrusa licence area.

The Rozalia Mine exploits narrow, flat, high-grade gold bearing quartz veins using traditional small-scale, hand-held mining methods. Information recently provided by Rozalia Mine owner, Slovenska Banska s.r.o., indicates that in addition to the narrow, high-grade gold veins there is also potential for wider zones of Rozalia-style mineralisation that may be amenable to larger scale, bulk underground mining methods.

Assays from three recent holes drilled from underground in the Rozalia Mine returned one hole (BHS-77) with 21.9m at 2.8g/t gold (including 1.9m at 17.7g/t gold). A second hole (BHS-78) returned 26.2 m at 1.4g/t gold (including 8.0m at 4.5g/t gold). These are potentially economic widths and grades for bulk-tonnage underground extraction.

During 2010, EMED Mining will assess the potential on the Company's Hodrusa licences surrounding the Rozalia Mine for bulk-mining opportunities both underground and at surface.

Drilling Program

The 2010 drilling program is planned to start in April and will focus on:

> geotechnical drilling for the revised Biely Vrch Scoping Study; and

> exploring for gold in Central Slovakia, including Rozalia-style targets.

Harry Anagnostaras-Adams, Managing Director of EMED Mining, commented:

"Our goal for 2010 is to advance the project design and permitting process for Biely Vrch and justify triggering a Final Feasibility Study, which will hopefully lead to development and production.

"In parallel, we will explore our large licence area in Central Slovakia for porphyry and other mineralisation styles in an area that historically yielded over 120 million ounces of silver and 3 million ounces of gold.

"We are also looking at opportunities elsewhere in Europe that will allow us to capitalise on our in-depth experience with porphyry gold deposits."

Enquiries

Competent Person

Information in this announcement that relates to Mineral Resource estimates and exploration results is based on information compiled by an appropriate team of geologists and specialists consultants under the monitoring and supervision of Mr Ron Cunneen, BSc (Hons.) Geology. Mr. Cunneen is Head of Exploration for EMED Mining and a full-time officer of that company. He has had more than 20 years' experience in the field concerned and is a Member of The Australian Institute of Geoscientists. Mr. Cunneen has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities he is undertaking to qualify as Competent Persons as defined in the JORC Code. Mr. Cunneen consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

Notes to Editors: About EMED Mining Public Limited

EMED Mining was admitted to trading on AIM in May 2005. The Company is committed to responsible development of metal production in Europe, with a focus on copper and gold. 

The Group's region of interest are the tectonic belts spanning across Europe and over to the Middle East. The strategy is to evaluate exploration and development opportunities in several jurisdictions throughout this quality mineral belt and to promote sustainable development practices through the implementation of European Union and other international standards. The Company strictly implements its Environmental & Community Policies which includes:

·; Integrating environmental management into its business, planning and reporting processes;

·; Promoting a strong environmental ethic throughout the Company and the community;

·; Complying with, as a minimum, all applicable local and European Union laws and regulations; and

·; Communicating with community stakeholders in a responsible and transparent manner.

EMED Mining has now established a strong position in the following selected zones:

Copper in Spain: The copper-mining district of Spain is probably among the best known in the world for its metal endowment. The Company's first priority is to start-up production of its wholly-owned Rio Tinto Mine which is the largest metal deposit in Spain. The mining industry is returning to prominence in Spain's Iberian Pyrie Belt and recent initiatives include start-ups in 2009 of major base metal mines at Inmet Mining's Las Cruces Project and Iberian Resources's Aguas Tenidas Mine. Lundin also operates its recent start-up Aguablanca and Antofagasta started exploration activities in 2009.

The Rio Tinto Mine site contains a fully installed and maintained operational complex - an open pit mine, copper-concentrator and waste disposal facilities. The site has been on care and maintenance since 2000 when operations were suspended due to low copper prices.

Gold in Slovakia: Exploration areas in Slovakia are centred on a cluster of volcanic centres. Low-detection geochemical methods are being applied to these areas for the first time together with open-pit bulk mining concepts. The Company has announced a significant gold discovery at Biely Vrch and has completed a positive scoping study on its potential development.

EMED Mining has other notable earlier-stage activities focused on copper and gold, as follows:

·; Exploration licences in the copper-mining districts of Cyprus;

·; A large mining lease in Georgia, Caucasus; and

·; A 25% shareholding in KEFI Minerals Plc which operates exploration joint ventures in Turkey and the Kingdom of Saudi Arabia.

For further information on the Company's activities, visit www.emed-mining.com or www.emed.tv