Atalaya Mining Regulatory News (ATYM)

AIM: EMED

TSX:EMD 24 May 2011

EMED MINING ACHIEVES NEXT PERMITTING MILESTONE

EMED Mining Public Limited ("EMED Mining" or "the Company"), the AIM-quoted and TSX-listed mining exploration and development company, announces that it has received formal approval from the Department of Culture and Heritage of the Junta de Andalucía ("Andalucían Government") for its plans to restart the Rio Tinto Copper Mine ("the Project").

This is the first formal approval to be received from the Andalucían Government, following its March 2011 announcement which stated that it would endeavour to facilitate the mine restart. It is also notable that both major political parties have this month affirmed their support for the project in respective policy statements.

Harry Anagnostaras Adams, Managing Director of EMED Mining, said:

"We are pleased with the approval received from the Department of Culture and Heritage and in particular appreciate the stated commitment of the Andalucían Government to facilitate the re-start of production. Full and constructive consultation is taking place among the regulators, local municipalities, unions and the Company. We are all working together to expedite the start-up."

In particular, the Company is now working with the Department of Environment (recently restructured to include the Water Authority) and the Department of Industry in order to expedite the necessary remaining approvals to restart the mine - approvals of the Company's Administrative Standing and of the Project as a whole.

At the mine, EMED Mining has started engineering work for tender documentation in respect of plant repair and improvement programs so that site works can begin by the end of 2011. This would enable production to start as early as possible in 2012, subject to the timing of the permit approvals amongst other things.

Background

The Andalucían Government has publicly stated that it wants to facilitate the mine start-up (see EMED Mining announcement dated 15 March 2011). This was supported on 14 and 15 May 2011 by the two principal political parties in their respective policy statements.

In April 2011 the Government departments set out conditions and requests required for permitting (see EMED Mining announcement dated 19 April 2011) in respect of which the Company is preparing supporting documentation for its responses. One key condition was to minimise pollution in the Odiel River Basin and it is notable that in this regard the regulatory authorities are now engaging with the various stakeholders (all relevant mining and other companies, municipalities, academic institutions and the landholders) to ensure they all work together over the long term to improve the conditions of the Odiel River. Regulatory policies in this respect are being formulated for application to all stakeholders.

For the information of shareholders, the results of elections held in Spain on 22 May 2011 will affect the composition of some of the local municipal councils directly involved with the Company's activities but those elections did not include elections for the Government of Andalucia, which will be held in May 2012.

Enquiries

About EMED Mining Public Limited

EMED Mining is at the forefront of the revival of responsible mining in Europe with several projects at different stages of development across the continent.

EMED Mining is focused on two key projects:

Copper in Spain: The Company's 100%-owned flagship project is the historic Rio Tinto Copper Mine (also known as Proyecto de Rio Tinto) near Seville, Spain. EMED Mining is currently permitting the restart of operations with copper production planned to restart during 2012.

Gold in Slovakia: EMED Mining discovered the Biely Vrch porphyry gold deposit in Central Slovakia and is currently advancing the planning and permitting necessary for development.

For further information on EMED Mining and technical details on the Company's projects, please refer to www.emed-mining.com.