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EMED Mining completed an updated Technical Report

NICOSIA, CYPRUS -- (Marketwire) -- 02/18/13 -- EMED Mining Public Limited (AIM: EMED) (TSX: EMD)


AIM: EMED
TSX: EMD

                                                       18 February 2013

    EMED Mining has completed an updated NI 43-101 Technical Report

EMED Mining Public Limited (the "Company" or "EMED Mining"), the
Europe-based minerals development and exploration company, is pleased
to announce that independent technical expert Behre Dolbear has
completed an updated NI 43-101 Technical Report on the Company's Rio
Tinto Copper Project.

The report entitled "NI 43-101 Technical Report on EMED's Rio Tinto
Copper Project, Huelva Province, Spain dated February 15, 2013" (the"NI
 43-101 Report") endorsed the Company's planned base case annual
production of existing ore reserves at 9.0Mtpa over 14 years from the
Cerro Colorado deposit, being the first mine EMED Mining plans to bring
into production. Behre Dolbear also noted that there is exploration
potential peripheral to the Cerro Colorado deposit which is open to the
east and at depth. This potentially provides scope to grow the
resource and expand operations including the development of other mines
within the existing permit areas.

Behre Dolbear supports the decision that the Company proceed with the
restart of the Rio Tinto Copper Project as soon as the requisite
project approvals, permits and project financing have been secured on
the basis that in their view the project is viable and appears to be
robust and well analysed in geological, engineering and financial
terms.

Highlights from the NI 43-101 Report include EMED's redevelopment plan
for the Rio Tinto Copper Project which includes processing 9 Mt of ore
per year to produce some 37,000 t of copper-in-concentrate, based on
the following assumptions:

- An average waste-to-ore ratio of about 1.1:1;

- Employment of 400 to 450 employees and contractors at full
production;

- Potential to extend the 14-year mine life by conversion of known
mineral resources to reserves;

- Pre-production capital cost estimates of approximately $200M,
pre-production escrow funds of approximately $29M (for social security
environmental and rehabilitation costs) and post start up capital cost
estimates of approximately $75M; and

- Operating Cost estimates over the life of the project:

  * $1,223M for Site Operating Costs

  * $468M for Freight, Selling, Refining and Smelting

  * $171M for Other Cash Operating Costs

  * $148M for Non Operating Costs (acquisition costs)To view the full text
of this press release, paste the following link
into your web browser:

http://www.rns-pdf.londonstockexchange.com/rns/0535Y_1-2013-2-17.pdf



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

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