SOURCE: EMED Mining Public Limited

March 25, 2013 03:09 ET

EMED Mining Public Limited announces Final Results

NICOSIA, CYPRUS--(Marketwire - Mar 25, 2013) - EMED Mining Public Limited (AIM: EMED) (TSX: EMD)






FINAL RESULTS FOR 12 MONTHS ENDED 31 DECEMBER 2012

                                                       25 MARCH 2013


EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "the
Company"), the Europe-based minerals development and exploration
company, announces its audited results for the year ended 31 December
2012.

The full audited report (as required by Toronto Stock Exchange),
including consolidated Financial Statements and the Management
Discussion and Analysis relating to the Company, are also available
under the Company's profile on SEDAR at  www.sedar.com  and on the
Company's website at  www.emed-mining.com  .

                     Key Highlights for 2012


* The start of construction works at the Rio Tinto Copper Mine
  remains targeted for H2-2013 and production for H2-14;

* Andalucian Government key approvals required for the project
  restart have progressed as follows:

* Environmental Plans (AAU): the complete report of AAU public
  comments from the Environment Ministry of the Junta de Andalucia was
  received in October 2012 and EMED has completed its responses to the
  few comments received from the public. The Department of Environment
  has drafted its conditions of approval to call for any final comments
  within 15 days from the seven third parties which made comments during
  the public review period;

* Administrative Standing: all documents in respect of legal,
  technical and economic capacities were updated as at the beginning of
  September, as requested by the regulatory authority, and lodged for
  final clearance. The Department has advised that the only outstanding
  requirements are:

     o the approval of the AAU by the Department of Environment, and

     o an opinion from the Central Government's technical review agency
       for civil engineering CEDEX (Centro de Estudios y
       Experimentacion de Obras Publicas) with regard to the proposed
       conditions to be applied to the tailings deposit plan.

* Final Restoration Plan: Upon the setting of conditions to
  approval of the AAU, the Company will update the Restoration Plan so
  that it can proceed to public viewing and approval.

* Project Approval (Mining Permit or Exploitation Rights):

     o The independent review of the Project as a whole was completed in
       Q4-2012 by the Central Government's technical review agency for
       mining, Instituto Geologico y Minero de Espana ("IGME").

     o The independent review of the tailings deposit for geotechnical
       safety is the responsibility of Centro de Estudios y
       Experimentacion de Obras Publicas ("CEDEX"). Its initial report
       with supportive conclusions was received in Q4-2012 and now
       stands pending completion in Q2-2013 of due diligence on
       sections of the tailings dam acquired by the Company in August 
       2012.

* In preparation for the setting of bonds and indemnities required
  to protect the project, the Company has installed civil liability
  insurance of EUR180 million in respect of the tailings deposit.

* On 14 November 2012, the Company announced that it has entered
  into conditional agreements with Red Kite, for an aggregate funding
  package of US$50 million in return for limited off-take rights over
  the Rio Tinto Copper Project's copper production based on current
  reported life of mine reserves.

* On 31 August 2012, EMED completed the acquisitions of certain
  land plots required for planned operations of the Rio Tinto Copper
  Project, pursuant to sale and purchase agreements entered with Rumbo
  5-Cero, S.L. and Inland Trading 2006, S.L.

* In March 2012, the Company entered into agreements with a
  cornerstone customer Yanggu Xiangguang Copper Co. Ltd ("XGC"),
  including XGC's provision of US$15 million for 10% fully-diluted
  ordinary equity in the Company. In addition XGC will provide or
  arrange a US$15 million subordinated debt facility as required by the
  providers of senior debt finance. On 28 August 2012, XGC subscribed a
  further US$5 million equity. In return, XGC was granted offtake
  rights over a total of 30% of current reported copper reserves at
  market prices.

* In March 2012, the Company mandated Goldman Sachs International
  on an exclusive basis to provide and/or arrange up to US$175 million
  of finance for the restart of the Rio Tinto Copper Mine.

* In Slovakia, the Detva Gold Project focuses on community
  consultation as part of the processing of its application for the
  regulatory approval of its Mining Lease Area, which has already been
  approved at the District Level and will now be referred the national
  regulator.

Post Period Events, other than any forementioned

* On 18 February 2013, the independent technical expert Behre
  Dolbear has completed an updated NI 43-101 technical report on the Rio
  Tinto Copper Project and endorsed EMED's planned base case annual
  production of existing ore reserves at 9.0m tonnes per annum over 14
  years from the Cerro Colorado deposit.


Mr. Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining,
commented:"We are poised at a very delicate and exciting stage, working
very
closely with the authorities in Andalucia and making every effort to
expedite the triggering of the Project, to start works in the second
half of 2013 and ramp-up production by the end of 2015."Our modus operandum
remains to expedite the start-up whilst carefully
managing the hiring of people and the spending of capital, in order
that progress on the ground remains synchronized with the progress of
regulatory permitting."


Enquiries:

Investors/Media:

Harry Anagnostaras-Adams +357 9945 7843,

Roger Howe +61 405 419 139

In North America: Andreas Curkovic +1 416-577-9927



                    This information is provided by RNS
          The company news service from the London Stock Exchange

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