AIM: EMED 

EMED MINING PUBLIC LIMITED

(“EMED Mining” or “the Company”)

SUBSTANTIAL PROGRESS ON POTENTIAL ACQUISITION OF RIO TINTO PROJECT IN SPAIN

EMED Mining Public Limited (“EMED Mining” or “the Company”) reports substantial progress with due diligence and negotiations aimed at the staged acquisition of 100% ownership of the Proyecto de Rio Tinto (“PRT”) copper project in Spain and restart of copper production in Q2 2008.

Highlights:

• The Company’s Spanish subsidiary, EMED Tartessus SL, has submitted its proposals for the restart of production to the Junta de Andalucia (“Government”). Accordingly, the Company has begun to address the conditions precedent with a view to committing in Q4 2007 to the restart. A shareholder meeting will be called at the appropriate time to seek approval to proceed if all conditions precedent have been met to the satisfaction of the Government and the Company.

• Results of independently reviewed (by AMC Consultants) due diligence to date include:

• JORC-compliant Mineral Resources increased to 255 million tonnes at 0.57% copper (containing 1.44 million tonnes copper) and Ore Reserves increased to 69 million tonnes at 0.65% copper (containing 0.45 million tonnes copper). Exploration planning in progress to convert more resource to reserve.

• 10-year Base Case for production expanded by approximately 50% to 40,000 tonnes per annum of copper-in-concentrate, based on processing 7.5 million tonnes of ore per annum. This represents 83% of historical maximum capacity through the existing treatment plant at PRT. Planning in progress to further expand the project.

• Annual average EBITDA of approximately �50 million for 100% of PRT based on a copper selling price of US$2.50/lb (current spot price is over US$3.60/lb). Total costs US$1.31/lb (capital expenditure and operating costs). Operating costs include site operating costs of US$0.93/lb which also cover exploration, royalties and rehabilitation.

• In compliance with the Memorandum of Understanding described in the Company’s announcement of 11 May 2007, definitive agreements have now been executed which reflect:

• The exclusivity of the Company’s option over 100% of PRT via subsidiary EMED Tartessus SL; and
• The Company’s right to withdraw if it is not satisfied that conditions precedent are met.

Harry Anagnostaras-Adams, Managing Director of EMED Mining said: “We are making significant progress in our due diligence and have formulated production restart plans which we believe will fulfil all local and regional requirements. We have formed an excellent leadership team at EMED Tartessus which will be augmented by personnel to be recruited upon our receipt of all regulatory clearances, shareholder approvals and the requisite financial commitments from our bankers and shareholders”.

Enquiries

…. announcement continues. The full announcement is available at:

http://emed-mining.com/site/dmdocuments/EMED_PRT_2Aug07.pdf

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Thank you for your interest in EMED MIning. Visit www.emed-mining.com for further information.

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