Atalaya Mining Regulatory News (ATYM)

AIM: EMED 14 December 2010

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

EMED Mining Files Final Prospectus and Announces Terms of Offering

EMED Mining Public Limited ("EMED Mining" or the "Company") is pleased to announce that it has obtained a receipt for a final prospectus in connection with its previously announced initial public offering in Canada (the "Canadian Offering") of ordinary shares (the "Ordinary Shares"), which final prospectus qualifies the issue of up to 180,970,000 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 up to CAD$24,430,950 (approximately GBP£15,313,320). The Canadian Offering is being made in conjunction with a listing of the Ordinary Shares (the "Listing") on the Toronto Stock Exchange (the "TSX") and is being led by Canaccord Genuity Corp. with a syndicate of agents that includes GMP Securities L.P. and Paradigm Capital Inc. (collectively, the "Canadian Agents"). The Company has also granted the Canadian Agents an option to purchase up to that number of additional Ordinary Shares at the Issue Price as is equal to 15% of the number of Ordinary Shares sold pursuant to the Canadian Offering, exercisable at any time for a period of 30 days from and including the date of the closing of the Canadian Offering (the "Over-allotment Option").

Concurrent with the closing of the Canadian Offering, the Company is proposing to complete a private placement of Ordinary Shares, principally in the UK, at an issue price of 8.5 pence (GBP£) (being approximately CAD$0.135) per Ordinary Share (the "UK Offering"). Fox-Davies Capital Limited and Fairfax I.S. plc will act as brokers to the UK Offering. The definitive number of shares to be issued in connection with UK Offering shall be settled based on the number of Ordinary Shares issued in connection with the Canadian Offering. The Company shall not issue greater than an aggregate of 259,241,886Ordinary Shares in connection with the UK Offering and the Canadian Offering and accordingly, the aggregate gross proceeds of the Canadian Offering and the UK Offering will not exceed CAD$35 million (approximately GBP£22 million) (which includes the exercise of the Over-allotment Option).

Both the Canadian Offering and the UK Offering are expected to close on or about Monday, December 20, 2010.

The Company has received conditional approval for the Listing. The Ordinary Shares will trade on the TSX under the symbol "EMD". The Listing is subject to the Company fulfilling all of the requirements of the TSX, including distribution of the Ordinary Shares to a minimum number of public holders.

The pricing of the share offerings represents a discount of 8.3% against the volume weighted average market price of the Company's ordinary shares of 9.27 pence on AIM since the filing of the preliminary prospectus on October 19, 2010.

The Ordinary Shares 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. 

A copy of the final prospectus will be available on SEDAR (www.sedar.com) or by contacting the Company or Canaccord Genuity Corp. at the below numbers.

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 closing of the Canadian and UK Offering, 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.