Holding in Company

Medusa Mining Limited

("Medusa" or the "Company")

1 November 2013

Holding in Company

Medusa was informed today that, as of 30 October 2013, BlackRock Group ceased to be a substantial shareholder* of the Company.

Contact details:

Medusa Mining Limited

+61 8 9367 0601

Peter Hepburn-Brown, Managing Director

SP Angel Corporate Finance LLP

+44 (0)20 3463 2260

UK Broker

Ewan Leggat / Laura Littley

* as defined under section 671B of the Australian Corporations Act and ASX listing rules, as a relevant interest of not less than 5% of the total votes attached to the voting shares in the company.