Atalaya Mining Regulatory News (ATYM)

AIM: EMED

TSX: EMD 20 December 2010

NOT TO BE DISTRIBUTED TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATED IN THE UNITED STATES

EMED Mining Closes $32.5 million Initial Public Offering in Canada and

Concurrent Private Placement in the UK

EMED Mining Public Limited ("EMED Mining" or the "Company") is pleased to announce that it has closed its previously announced initial public offering in Canada (the "Canadian Offering") of 180,970,000 ordinary shares (the "Ordinary Shares") at an issue price of CAD$0.135 (approximately 8.5 pence based on an exchange rate of CAD$1.00 = GBP£0.6268) (the "Issue Price") per Ordinary Share for aggregate gross proceeds of CAD$24,430,950 (approximately GBP£15.3 million).  

The Canadian Offering was led by Canaccord Genuity Corp. with a syndicate of agents that included GMP Securities L.P. and Paradigm Capital Inc. (collectively, the "Canadian Agents").

The Company has granted the Canadian Agents an option to purchase up to 18,145,500 additional Ordinary Shares at the Issue Price, exercisable at any time for a period of 30 days following the date hereof (the "Over-allotment Option") to cover over-allotments, if any, and for market stabilization purposes. If the Over-Allotment Option is exercised in full, the Company will receive additional gross proceeds of CAD$2,449,643(approximately GBP£1,535,436).

The Ordinary Shares commence trading today on the Toronto Stock Exchange under the symbol "EMD".

Concurrent with the closing of the Canadian Offering, the Company has completed a private placement of 60,126,386 Ordinary Shares, principally in the UK (the "UK Offering"), at an issue price of 8.5 pence (approximately CAD$0.135) per Ordinary Share for aggregate gross proceeds of GBP£5,110,742 (approximately CAD$8,117,062).  Fox-Davies Capital Limited and Fairfax I.S. plc acted as brokers to the UK Offering.

The Company has applied for the Ordinary Shares issued under the Canadian Offering and the UK Offering to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). Such Admission is expected to become effective at 8:00 a.m. (London time) on December 21, 2010.

Following the closing of the Canadian Offering and the UK Offering, the Company has on issue, 673,168,336 Ordinary Shares.

The Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. No securities commission has approved or disapproved the contents of this press release. 

Managing Director, Mr Harry Anagnostaras-Adams said: "It is pleasing to have successfully closed the capital-raising at the maximum level targeted and that the Company is now dual-listed in London on AIM and in Toronto on the TSX."

Enquiries

For further information on the Company's activities, visit www.emed-mining.com or www.emed.tv

Forward Looking Information

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries, future growth, results of operations, performance, business prospects and opportunities. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release including, without limitation those described in the final prospectus under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking statements, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this press release. The forward-looking information and forward-looking statements contained herein are made as of the date of this press release and the company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or results of otherwise, except as required by law.