Holding in Company

Medusa Mining Limited

("Medusa" or the "Company")

12 July 2013

Holdings in Company

Medusa was informed today that, as of 3 July 2013, BlackRock Group was beneficially interested in a total of 11,521,484 ordinary shares of nil par value in the Company which represents approximately 6.10% of the issued share capital of the Company and an increase in holding of 1,980,269 ordinary shares since the previous shareholder notification by BlackRock Group on 5 June 2013.

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