Atalaya Mining Regulatory News (ATYM)

AIM: EMED

TSX: EMD 02 April 2013

EMED Mining Public Limited

("EMED Mining" or the "Company")

Limited Company Exposure to Cyprus Bank Restructuring

EMED Mining, the Europe-based minerals development and exploration company, updates shareholders as regards the announcement by authorities in Cyprus of a proposed restructuring of its banks. In essence, the impact on the Company is to reduce the previously estimated potential cost from circa €270,000 to circa €110,000.

Background

When Cyprus temporarily suspended its banking operations on 18 March 2013, the Company held €210,000 in a current account of a Cypriot bank for payment of local expenses. Other deposits were held in other banks.

On 19 March 2013, the Company formally advised shareholders of the potential impact of up to €270,000 of one-off levies then proposed by the authorities.

Based on the subsequently revised restructuring of the banks announced by the authorities on 25 March 2013, and the implementation thereof as from 28 March 2013 when the Cyprus banking system re-opened, the potential impact on EMED Mining has been reduced to €110,000, which amount has since been set aside to cover losses of a local bank.

We believe that the Company's other deposits are not exposed to the restructuring of Cyprus banks.

The Global Financial Crisis of 2008 and the subsequent international banking crises, including the current Cyprus situation, have not affected the smooth functioning of the Company's administration in any of its jurisdictions, including Cyprus where we employ a small team of highly professional staff for accounting, treasury and compliance.

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