Result of AGM

AIM: EMED 15 June 2010

CHAIRMAN'S AGM STATEMENT AND RESULT OF AGM

EMED Mining Public Limited (the "Company") is pleased to announce that its shareholders approved all resolutions proposed at its Annual General Meeting today.

The Managing Director's presentation to shareholders at today's Annual General Meeting will now be uploaded to the Company's website at www.emed-mining.com.

The following statement was made at today's AGM by EMED Mining's Chairman Ronnie Beevor -

Chairman Ronnie Beevor's Address at 2010 Annual General Meeting

I am delighted to welcome you all to the 2010 Annual General Meeting of the Company here at Rio Tinto.

First, let me introduce the other Directors of EMED Mining who are present here today:

·; Harry Anagnostaras-Adams is the Company's Managing Director

·; John Leach is the Company's Finance Director

·; Non-executive Directors Ross Bhappu, Roger Davey and Ashwath Mehra

The Directors here represent over 48% of the fully-diluted capital of EMED Mining.

Unfortunately Gordon Toll has been unable to attend due to unforeseen circumstances.

For shareholders attending today we have arranged for a site tour and introductions to Directors and senior management. For those unable to attend today, we have also invited shareholders to briefings in London on 21st June 2010 or Toronto on 29th June 2010. The Managing Director's slide presentation will be made available on the Company's website as from today.

EMED Mining has a strong commitment to responsible development of metal production operations in Europe, with an initial focus on copper and gold. All the management team, including the Managing Director, is based close to our projects in Europe rather than in a remote financial centre. Our operational headquarters is here at the Rio Tinto Mine.

During the past 12 months EMED Mining has made strong and consistent progress on its two major projects: the Rio Tinto Mine here in Spain and the Biely Vrch gold project in Slovakia.

The Rio Tinto Mine is our priority development project because it can be brought into production relatively quickly and improved to comply with the standards of a 21st century project. We have recently been pleased to report the regulatory approval of the project's reconnection to the national power grid.

EMED Mining has completed extensive technical work in order to re-establish the Rio Tinto Mine as a major, profitable copper mine producing approximately 37,000 tonnes per annum of copper-in-concentrate. Many improvements are planned to avoid the project's historical weaknesses, to add value to the project and to test further potential. The principal technical reports supporting our project will be submitted on schedule this month after extensive discussion with the relevant authorities.

Being here at the mine site today, we can all appreciate the significant opportunity presented by this established open-pit mine, copper-concentrator plant and other infrastructure.

Unfortunately, the restart process has taken longer than we initially expected due to a number of reasons. We have made very substantial progress in the clean-up of the pre-existing legal structure and legacies. Our achievements include our acquisition of 100% of the Rio Tinto Mine in 2008, the concurrent settlement with the project's then principal creditor and, most recently, the announcement last week of the €16.9m settlement in relation to debt owed to the Department of Social Security by a previous owner of the Rio Tinto Mine. 

Support for restarting the mine has become increasingly widespread over the past year and this has provided strong momentum for production to restart.

Our excellent team is working tirelessly and with good interaction with the authorities, the labor unions elected by site personnel and local communities in the Cuenca Minera region.

For the past six months we have been working to a revised roadmap agreed with the Junta de Andalucía in late 2009, with the target of advancing permitting to a stage that would enable site preparations to commence at the end of 2010 and copper production to commence during 2011.

The regulatory agencies of Andalucía engage constructively with the Company's technical experts, who are supported by Spanish and international independent experts.

Our project team is expanding in line with the growing activities at the mine site. Workforce training and selection programs are being planned for the significant personnel recruitment that will be required.

Aspects of the operation will be updated to incorporate industry improvements that have been developed over the past 20 years.

We have also continued to prepare for the activities required to restart operations once the permits are received. This includes preparations for the awarding of mining contracts; refurbishment of the processing plant and other infrastructure; and project financing.

Our product sales agent, MRI Trading, has started assembling letters of intent from planned customers in Europe and Asia, who have reacted positively. Offtake discussions are in train as are associated financing arrangements.

Re-opening the Rio Tinto Mine has become increasingly important in the context of high unemployment in southern Spain. And in the first 10 years of operation, the Rio Tinto Mine is projected to generate GDP of more than €1 billion for the region.

We also plan to facilitate enterprises that will continue long after the Rio Tinto orebody is mined out, more than 20 years from now.

Our dedication to creating sustainable enterprises is demonstrated by the commitments that the Company has already made to implement a number of projects aimed at encouraging economic diversification around Rio Tinto. We have already introduced a new laboratory services business operated by ALS Environmental Services.

Operating in a socially responsible manner is central to our business model. Effective communication with a range of stakeholders is essential to ensuring that we fulfill these responsibilities.

We work diligently in accordance with our corporate ethos founded on integrity, transparency and progress.

The region of Andalucía has the potential to once again become a metal producing region of international standing. It is notable that in recent years there have been more permits for major mining operations issued in the world-class Iberian Pyrite Belt than elsewhere in Europe.

EMED Mining recently completed an £8.8 million equity placing. Much of this funding was derived from Canada, where we found a ready appreciation of the revival of base metal mining in the Iberian Pyrite Belt, and a strong interest in PRT in particular. EMED Mining is now preparing for dual stock exchange listing on the Toronto Stock Exchange and has appointed Cannacordgenuity as lead-broker in Canada.

EMED Mining's team now includes specialists from Spain, Slovakia, Cyprus, Australia and the Americas with most of our 40 personnel now being Spanish citizens and based at Rio Tinto. Upon triggering production at Rio Tinto, we would complete the build-up of the production management team and initiate the recruitment drive for more than 300 personnel to be based at Rio Tinto which will become our operational and technical headquarters.

Development of our Biely Vrch gold deposit in Slovakia will also create substantial value. Our Slovakian team is progressing further studies and the permitting of Biely Vrch, while continuing to test numerous prospects in a prolific district. The development scoping study has now been refined and a detailed report will be made to shareholders this month.

Commodity markets have recovered strongly over the past year and, when converted into EURO-equivalent prices, have fallen merely 11% since the onslaught of the global financial crisis in mid-2008. The outlook for copper and gold prices is certainly among the strongest for all metals, which augurs well for the projected profitability of our operations. The recent depreciation of the Euro has also been positive for the economics of our projects.

We are determined to realise our Company's ambition of becoming a major European-based mining company that will employ many more people and provide long-term benefit to all our stakeholders.

The Company's key near-term priority is to safely and efficiently start copper production at Rio Tinto once EMED Mining has completed the regulatory approval process, financed the start-up and obtained shareholder approval.

By working very closely with the regulatory authorities, EMED Mining plans to bring this established mine up to the high standards of a 21st Century operation.

I would like to thank the Government of Andalucía and local municipalities for their contributions and growing support of our plans to restart copper production at Rio Tinto.

Finally, I greatly appreciate the support of all of our shareholders, all of our personnel and all of our families, and look forward to a very important productive next phase for our company.

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