Directors' Shareholdings

Medusa Mining Limited

("Medusa" or the "Company")

23 June 2011

Directors' Shareholdings

Medusa was informed today that Andrew Boon San Teo, Non-Executive Director acquired 5,000 ordinary shares in the Company in an on-market transaction on 23 June 2011. The shares were acquired at a price of A$6.75 per share. Following this transaction Mr. Teo is now beneficially interested in a total of 60,000 ordinary shares in the Company, which are registered in the name of his spouse, Mrs Fiona Mary Teo.

Further, Medusa was informed today that Peter Hepburn-Brown, Managing Director acquired 15,000 ordinary shares in the Company in an on-market transaction on 23 June 2011. The shares were acquired at a price of A$6.85 per share. Following this transaction Mr. Hepburn-Brown is now beneficially interested in a total of 15,000 ordinary shares in the Company. 

Contact details:

Medusa Mining Limited

+61 8 9367 0601

Geoffrey Davis, Managing Director

Roy Daniel, Finance Director

Fairfax I.S. PLC

+44 (0)20 7598 5368

Financial Adviser / Broker

Ewan Leggat / Laura Littley