2 April 2008

AIM: EMED

EMED MINING PUBLIC LIMITED

(“EMED Mining” or the “Company”)

PROYECTO DE RIO TINTO (“RIO TINTO MINE”) UPDATE

EMED Mining announces that it continues to make good progress towards triggering its option for the acquisition of the Rio Tinto Mine in Spain that has the potential to restart copper production.  EMED Mining can report that the technical and economic assessments continue to deliver positive results and that formal constructive engagement has commenced with all regulatory authorities and other stakeholders. 

The Company has consistently said that it is necessary that all conditions precedent be satisfied in order for the Company’s shareholders to be asked to fully approve the exercise of the option and to re-start production at the Rio Tinto Mine. These conditions precedent include receipt of all regulatory permits and other items including the arrangement of finance. 

This press announcement brings EMED Mining shareholders up to date on the status of the principal outstanding conditions precedent and the implications for the exercise of the option to acquire the Rio Tinto Mine.

Technical and Economic Assessment:  The Company’s understanding of the Rio Tinto Mine has improved to the point where the Company considers that most of the conditions precedent on technical and economic matters have been satisfied.  This is based on specialist expert assessments conducted with the Company’s project adviser AMC Consultants (UK) Ltd. Updates will be published in the Annual Report to be sent to shareholders in late April.  

Permitting:  Formal applications have been submitted to the regulatory authorities.  In the Company’s view, the principal permitting matter to be resolved is the satisfactory resolution of legal disputes between the project-vendor company Mantessur Andevalo S.L, (“MSA”) and the mine-permitting authorities.  The resolution of this matter is being facilitated by EMED Mining and is a condition precedent.  The Company’s local subsidiary EMED Tartessus S.L (“EMED Tartessus”) is also preparing answers to requests made by the authorities for further explanations on key aspects of the project restart.  It will then remain for EMED Tartessus to settle with the authorities the appropriate level of financial guarantees and operational commitments for the tailings dam, environmental rehabilitation and personnel entitlements.  EMED Tartessus is in formal constructive discussions with the authorities on all financial guarantees and operational commitments having completed studies regarding the likely costs and these are built into our current financing plans.

Counterparty Settlements:  Clarification on the Rio Tinto Mine ownership structure has been assisted by recent judicial decisions in Andaluc�a where the Courts have determined that control of the project-vendor company, MSA, should be transferred to its principal financier.  Whilst EMED Mining’s agreements are with MSA, regardless of who controls that company, the judicial decisions will have the effect of replacing the current controlling shareholder of that company with a party of significant industry stature and with whom EMED Mining’s shareholders, and likely Rio Tinto Mine off-take customers, have long-standing relationships.  EMED Mining awaits the necessary judicial execution of the Court’s determination which is expected within two months.  EMED Mining is encouraged by these developments as disputes regarding control of the project-vendor company, MSA, are now being settled by the Courts which will clarify the situation for all stakeholders and will allow EMED Mining to satisfy an outstanding condition precedent in a relatively short time frame.

Restart Preparations:  Detailed operational restart planning continues whilst all remaining conditions precedent are resolved to EMED Mining’s satisfaction.  Upon triggering of the option and the restart of production newly-appointed EMED Mining Chief Operating Officer Bill Enrico, now based at Rio Tinto, will assemble the future operational team at the Rio Tinto Mine.  Restart plans are well advanced and we anticipate production would be expected to commence 6 months after exercising the option.  Long lead-time repairs and spares have been identified and will be ordered to achieve the restart within six months of permits being finalized and the option being exercised. 

Finance:  Major EMED Mining shareholders include international mining companies Oxiana and Gold Fields, mining-financiers Rand Merchant Bank and Resource Capital Funds and investment institution Fidelity International.  EMED Mining has been encouraged by the further interest that has also been shown from a number of additional potential investors and financiers and the Company continues to support detailed due diligence investigation by these newly interested parties. 

Current estimates of total funding required remain consistent with previously announced figures of �60 to �80 million depending upon the speed with which we acquire the Rio Tinto Mine and move to 100% ownership.  Finance plans are focused on the following approach:

�         minimising expenditure pending the exercise of the option. The Company has so far avoided committing to any counterparty settlements;

�         all pre-permitting financing to be by way of equity or advances repayable with equity, to minimise finance risk;

�         exercising the option upon receipt of regulatory approval; and

�         post-permitting financing to be mainly by way of debt, so as to minimise equity dilution for EMED Mining shareholders given the potential rapid payback of investment.

Annual General Meeting (AGM) on 4 June 2008 at Rio Tinto:  The Annual Report and Notice of Annual General Meeting will be issued in late April for the meeting to be held at Rio Tinto Mine on 4 June 2008.

Shareholder Consideration of Board Resolution to Exercise Option:  EMED Mining’s Directors are confident that all outstanding conditions precedent are capable of being satisfied.  Preparations continue on the submission of a circular to shareholders detailing the Board’s recommendation to trigger the option to acquire and restart production at the Rio Tinto Mine although that will now be subject to the necessary judicial execution of the Court’s determination in Andaluc�a which is expected within two months, and resolving any other outstanding conditions precedent to EMED Mining’s satisfaction. An independent Competent Person’s Report will be prepared and published in due course as part of the circular to shareholders.

Mr Harry Anagnostaras-Adams, Managing Director of EMED Mining said: “When we arrived in Andaluc�a, the Rio Tinto Mine was regarded by most observers as being unlikely to restart because of the historical disputes.  EMED Mining can now report that it is now clear to most stakeholders that the Rio Tinto Mine will indeed restart.  We remain optimistic that we will satisfy the remaining conditions precedent that will allow us to exercise the option as the Andaluc�a authorities become satisfied with our Company’s credentials and as we demonstrate our clear independence from previous owners.”

Mr Bill Enrico, Chief Operating Officer of EMED Mining said:  “Since recently moving to Rio Tinto recently I have inspected the facilities and examined the various independent expert assessment reports.  It is apparent to me that the Rio Tinto Mine can restart quite easily and quickly.  The most important aspect is to establish the right culture and team for the future.  We will do that as soon as we meet our conditions precedent and obtain the necessary permits to proceed.  Our restart plans are well advanced and we anticipate production would be expected to commence 6 months after exercising the option.”

-Ends-

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Notes to Editors: About EMED Mining Public Limited

EMED Mining was admitted to trading on AIM in May 2005 following a placing of its shares. In the two years since then the share price has increased from 8p to the current 15.5p and market capitalisation has increased from approximately �4 million to approximately �23 million. The Company is based in Cyprus and has a strong commitment to responsible development of metal production operations in Europe, with an initial focus on copper and gold.

The Group’s region of interest are the tectonic belts spanning across Europe and over to the Middle East. The strategy is to evaluate exploration and development opportunities in several jurisdictions throughout this quality mineral belt and to promote sustainable development practices through implementation of European Union and other leading-edge international standards. The Company has, from the outset, strictly implemented its Environmental & Community Policy which includes:

�         Integrating environmental management into our business, planning and reporting processes.

�         Promoting a strong environmental ethic throughout the company and the community.

�         Complying with, as a minimum, all applicable local and European Union laws and regulations.

�         Communicating with community stakeholders in a responsible and transparent manner.

EMED Mining has now established a strong position in the following selected zones:

�         Exploration areas in Slovakia are centred on a cluster of volcanic centres. Low-detection geochemical methods are being applied to these areas for the first time together with open pit bulk mining concepts. The principal targeted mineralisation style is low-grade, bulk-mineable porphyry gold. The company has announced gold discoveries at Biely Vrch, Kralova and Slatinske Lazy in Slovakia.

�         The mines in Cyprus and at Rio Tinto in Spain, located in the Iberian Pyrite Belt, are probably amongst the best known in the world. EMED Mining’s goal is to restart copper production at its projects in both of these well-endowed, historical mining districts. Both Spain and Cyprus are progressive members of the European Union and EMED Mining has been made to feel welcome in both host countries. The styles of mineral deposits and production techniques are similar in both mining districts.

�         EMED Mining’s main prospects in Georgia are gold prospects within the Upper Racha Licence, the country’s largest minerals licence with many untested prospects. The Company has confirmed Russian Resources of 1.0 million ounces gold at the Zopkhito Prospect and discovered high grade mineralisation at surface at other prospects (detailed in 2006 Annual Report).

�         Exploration areas in Turkey were vended into 32%-owned KEFI Minerals Plc which was admitted to AIM in December 2006. KEFI Minerals owns carefully selected licence areas in Turkey, as well as an extensive proprietary database of regional and specific exploration data providing a pipeline of further projects to evaluate. The KEFI Minerals team has mobilized into the field to explore the company’s tenements and to expand the portfolio of licenses as opportunities warrant. See www.kefi-minerals.com.

For further information on the Company’s activities, visit www.emed-mining.com or www.emed.tv.