EMED Mining drilling underway at Slovak gold prospect

Further drilling in Slovakia by Cyprus-based EMED Mining Public Limited have extended the zone of mineralization at its Biely Vrch Prospect to an estimated 50 million tonnes with a grade range of 0.2g/t to 1.9g/t gold, typically 0.8g/t to 1.1g/t gold, and containing approximately 1.2 mln ounces of gold based on these preliminary estimations.

The company also announced that it has been granted seven exploration licences in the Central Slovakian Volcanic Field totalling 1107 square kilometres believed to be the largest holding of any company in Slovakia. Scout drilling has just commenced at the Kralova Prospect, the company’s second gold porphyry discovery 20 km south west of Biely Vrch.

Several other prospects within the Slovakian License have been recognised as having potential to host porphyry gold mineralization.

EMED Mining has so far completed 5,000 metres of drilling in Slovakia (15 drill holes at Biely Vrch) and aims to complete a further 2,000 metres this year, weather permitting. A drill rig has been brought over from Georgia to increase the drilling rate within the limited period remaining in this year’s drilling season.

“We believe we have discovered a significant gold province,” said Managing Director Harry Anagnostaras-Adams. “This type of gold system, porphyry gold, is typically noted for its clusters of orebodies with substantial intervals of consistent mineralisation, enabling multi-million ounce gold orebodies to be delineated.”

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 16p and market capitalisation has increased from GBP 4 mln to approximately GBP 30 mln. 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.

EMED Mining has also established a strong position in the mines at Rio Tinto in Spain which are probably amongst the best known in the world. They are, with the possible exception of those in Cyprus, the oldest capable of still being worked. EMED Mining’s goal is to restart copper production at its projects in both of these well-endowed, historical 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 mln ounces gold at the Zopkhito Prospect and discovered high grade mineralisation at surface at other prospects.

Exploration areas in Turkey were vended into 34%-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.