Holding in Company

Medusa Mining Limited

("Medusa" or the "Company")

20 April 2011

Holdings in Company

Medusa was informed yesterday that as of 18 April 2011 M&G Investment Management Limited, M&G Limited, M&G Group Limited and Prudential plc were beneficially interested in a total of 19,125,000 ordinary shares of nil par value in the Company which represents approximately 10.16% of the issued share capital of the Company. The registered owner of the 19,125,000 ordinary shares is Chase Nominees Ltd - VANG.

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

Lothbury Financial Services Limited

+44 (0)20 7868 2567

Michael Padley