EMED MINING - EXERCISE OF OPTIONS

AIM: EMED
TSX: EMD

NICOSIA, Cyprus, May 10 /CNW Telbec/ - EMED Mining Public Limited ("EMED Mining" or the "Company") (AIM: EMED) (TSX: EMD) announces that it has received notice that a number of its employees, directors and advisers exercised options over 7,033,555 ordinary shares of 0.25 pence each in the capital of the Company ("Ordinary Shares").  All of these options were originally granted on 9 May 2005 and have an exercise price of 8 pence per Ordinary Share.  Options over a further 682,318 Ordinary Shares which were granted at the same time have now expired.

Of the options that have been exercised, options over 1,250,000 Ordinary Shares were exercised by EMED Mining's Chairman, Ronnie Beevor, and options over 4,000,000 Ordinary Shares were exercised by Samarang Limited, a company associated with Harry Anagnostaras-Adams, EMED Mining's Managing Director.

Following the above exercise of options, Mr Beevor has a beneficial interest in 7,400,000 Ordinary Shares and Mr Anagnostaras-Adams has a beneficial interest in 9,800,000 Ordinary Shares, representing 1.05% and 1.38% respectively of the Company's issued share capital following the issue of the Ordinary Shares pursuant to the exercise of options. 

The Company has made application to the London Stock Exchange for 7,033,555 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 16 May 2011. Application will also be made for quotation of the new shares on the Toronto Stock Exchange. 

Following the issue of Ordinary Shares pursuant to the exercise of options, the Company will have 707,650,128 Ordinary Shares in issue.

Enquiries
    EMED Mining
RFC Corporate Finance
Fox-Davies Capital
Fairfax I.S. PLC
Bishopsgate Communications
Proconsul Capital
  Harry Anagnostaras-Adams
Stuart Laing
Simon Leathers
Ewan Leggat/Katy Birkin
Michael Kinirons
Andreas Curkovic
  +357 9945 7843
+61 8 9480 2500
+44 203 463 5022
+44 207 598 5368
+44 207 562 3350
+1 416 577 9927

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

Note re US Securities

The Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. No securities commission has approved or disapproved the contents of this press release.

Notes to Editors: About EMED Mining Public Limited

EMED Mining was admitted to trading on the AIM market of the London Stock Exchange in May 2005 and on the Toronto Stock Exchange in December 2010.

The Company is committed to responsible development of metal production in Europe, with a focus on copper, gold and critical raw materials.

The Group's region of interest is 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 the implementation of European Union and other international standards. The Company strictly implements its Environmental & Community Policies.

EMED Mining is focused on two key projects in Spain and Slovakia:

Copper in Spain: The Company's priority is to progress the planning and permitting process required to commence production from its wholly-owned Rio Tinto Copper Mine. Located 65km northwest of Sevilla in Andalucía, the open-pit mine, processing plant and waste disposal facilities has been on care and maintenance since 2001.

Gold in Slovakia: EMED Mining discovered the Biely Vrch porphyry gold deposit and is currently advancing the planning and permitting necessary for development.

EMED Mining has the following other notable earlier-stage activities:

  • Exploration licences in the copper-mining districts of Cyprus;
  • An option over a tungsten deposit in Portugal; and
  • A 20% shareholding in KEFI Minerals Plc which operates exploration joint ventures in Turkey and Saudi Arabia.

SOURCE EMED MINING PUBLIC LIMITED

For further information:

Renmark Financial Communications Inc
Peter Mahzari: pmahzari@renmarkfinancial.com
Christine Stewart: cstewart@renmarkfinancial.com
Media - Geneviève Bessi: gbessi@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com

Organization Profile

EMED MINING PUBLIC LIMITED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890