SOURCE: EMED Mining Public Limited

March 18, 2013 09:18 ET

Proposed Levy on Deposits in Cyprus

NICOSIA, CYPRUS--(Marketwire - Mar 18, 2013) -


TSX:EMD                                                    18 March 2013

EMED Mining Public Limited

("EMED Mining" or the "Company")

Limited Company Exposure to Proposed Levy on Deposits in Cyprus

EMED Mining, the Europe-based minerals development and exploration
company, notes the announcement by authorities in Cyprus of a proposed
one-off levy of 6.75% to 9.9% on bank deposits. Based on the Company's
preliminary enquiries, the yet to be published legislation would have
the effect of imposing a levy on EMED Mining of circa EUR20,000 if
applied to its bank deposits in a Cypriot bank and creates contingent
liability for an additional amount of circa EUR250,000 if it is also
applied to a UK bank deposit which the Company administers via the
bank's Cyprus branch. We understand that the levy would not apply to
the Company's other bank deposits.

For more information please contact:

EMED Mining                Harry Anagnostaras-Adams    +357 9945 7843

RFC Ambrian                Stuart Laing                +61 8 9480 2500

Fox-Davies Capital         Simon Leathers/Susan Walker +44 203 463 5022

Bishopsgate Communications Nick Rome                   +44 207 562 3350

Proconsul Capital          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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