EMED MINING QUARTERLY FINANCIAL REPORT

NICOSIA, Cyprus, May 4 /CNW Telbec/ - EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "the Company"), the Europe-based minerals development and exploration company, announces its unaudited results for the three months ended 31 March 2011. The full Quarterly Report (as required by Toronto Stock Exchange reporting standards), including consolidated Financial Statements and the Management Discussion and Analysis relating to the Company, is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.emed-mining.com.

Period Highlights

  • In January 2011, one of the four principal regulatory authorities with responsibility for the Rio Tinto Copper Mine, Andalucía's Department of Culture and Heritage conditionally approved, from a heritage point of view, the Company's proposed mining activities as detailed in various submissions. This represented the first formal response to the Company's application for Administrative Standing.

  • The Company announced plans for drilling at its Rio Tinto Copper Mine upon receipt of Administrative Standing. Exploration work will be conducted in parallel with completion of permitting and the start-up of the mining operation. Many areas on the mine property have not been drilled near surface or at depth. Exploration targets have been identified in and around the open cut and underground workings with the potential to expand the current 14-year base-case mine life and/or annual production.

  • In March 2011 the Junta de Andalucía ("Government") announced that through its active enquiry and intervention it has satisfied itself as to the legality of the transmission of the Rio Tinto mineral rights to EMED Tartessus, the Company's wholly-owned subsidiary.  This thereby facilitated the further processing of the Company's application for Administrative Standing and approvals for the restart of the mine.

  • Post period end in April 2011 the Company announced that it has now received responses from all four governmental departments that contain requests and preliminary conditions required for the approval of the Company's submissions to restart the Rio Tinto Copper Mine.

  • The Company has started preparing responses to the requests and conditions received and has commenced the engineering work to prepare tender documentation for the repairs and improvements to the plant.

Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:

"We are pleased to have overcome the legal legacy issues and to have advanced the regulatory process to the technical, economic and social requests and conditions. We continue to work closely with the regulatory authorities to ensure that we can restart the Rio Tinto Copper mine as soon as possible.

"The Company continues to target all approvals in 2011 and initial production in 2012, the timing of which will depend on the final conditions of permitting and the timing thereof."


SOURCE EMED MINING PUBLIC LIMITED

For further information:

Enquiries: 
Investors/Media: Harry Anagnostaras-Adams +357 9945 7843,
Roger Howe +61 405 419 139
In North America : Andreas Curkovic +1 416-577-9927

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

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EMED MINING PUBLIC LIMITED

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