SOURCE: EMED Mining Public Limited

May 14, 2013 10:35 ET

EMED Mining Public Limited: Quarterly Financial Report

NICOSIA, CYPRUS--(Marketwired - May 14, 2013) -

 TSX; EMD

 QUARTERLY FINANCIAL REPORT

 14 May 2013


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 2013.

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


Period Highlights

Spain - Rio Tinto Copper Project:

* An Updated NI 43-101 Independent Technical Report was published
reporting that capital and operating cost estimates are consistent with
recent guidance published by the Company;

* The Andalucian Government's Department of Industry formally
notified the remaining conditions for Administrative Standing (or
"Titularidad Administrativa"), (the administrative approval of the
Company's mineral rights) namely:

.a preliminary report from technical agency CEDEX on the viability of
the project after taking into account restrictions imposed on the
tailings management system, and

.approval by the Andalucian Government's Department of Environment of
the Unified Environmental Authorisation ("AAU"), being the
environmental plan;

* The Company has implemented the requested civil liability
insurance policy for the tailings facility;

* The Andalucian Government completed the public comment period
for the "Class B Resources", the recycling of precious-metal rich
tailings via the Company's joint venture with local investment group
Rumbo 5-Cero;

* The Company registered the incorporation of the EMED Foundation
for Economic Diversification, which will commence operations with mine
production.



Slovakia - Detva Gold Project

* The national Mining Bureau is considering whether to ratify the
approval of the Mining Lease Area.


Corporate

* The Cyprus banking crisis had no notable impact on the Company.

* The Company is still in a closed period.


Explanatory Comments as Regards Regulatory Permitting in Spain

* Approval of the environmental plan by Andalucia's Department of
Environment and of Administrative Standing by Andalucia's Department of
Industry are the two principal permits required for construction works
to commence

* The two departments are currently focused on ensuring that the
conditions formally set for Administrative Standing are duly taken into
account in the approvals process for the environmental plans

* The current focus of the Company's permitting team is to serve
the Andalucian Government's desire to resolve these matters mid-year
and, to that end, to assemble the due diligence required by CEDEX as
regards the tailings management system. The financial impacts were
considered within the estimates reported in the Updated NI 43-101
Independent Technical Report in February, the physical works required
for CEDEX due diligence were completed in March and satisfactory
preliminary conclusions by the various specialist consultants were
tabled in April.


Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:
"We target starting works next quarter. Obviously this relies on
receiving the requisite permits, the progress of which remains
encouraging and steady, albeit slow due to the caution and care being
exercised."



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

END

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