Atalaya Mining Regulatory News (ATYM)

AIM: EMED 15 December 2010

EMED Mining Progress at Rio Tinto Mine

EMED Mining Public Limited ("EMED Mining" or the "Company") is pleased to announce that it has received the required fourth signature to the statement of non-opposition (to the administrative approval of the mineral rights acquired by EMED Mining subsidiary EMED Tartessus) from members of the Liquidation Commission ("the Commission") of previous owner of the mineral rights, Minas de Rio Tinto. The Company understands that the letter of non-opposition was signed by the President of the Commission, after he had consulted the Social Platform for the Cuenca Minera (representatives of local government, unions, employer groups and the creditors represented by the Commission). The letter of non-opposition was requested by the Junta de Andalucia ("Junta") as a prerequisite to it considering the grant of administrative approval to the Company, an approval required to be obtained by the Company in order to re-start the Rio Tinto Copper Mine. The executed letter of non-opposition has been formally submitted to the Junta for its review.

Subject to confirmation by the Junta, the Company believes that the Junta will now begin a formal review process to determine whether the Company should receive the administrative approval that it is seeking, such approval to be granted upon the Company satisfying the Junta that it possesses the legal, technical and economic capacity to operate the Rio Tinto Project.

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Notes to Editors: About EMED Mining Public Limited

EMED Mining was admitted to trading on the AIM market of the London Stock Exchange in May 2005. The Company is committed to responsible development of metal production in Europe, with a focus on copper, gold and critical raw materials.

The Group's region of interest is the tectonic belts spanning across Europe and over to the Middle East. The strategy is to evaluate exploration and development opportunities in several jurisdictions throughout this quality mineral belt and to promote sustainable development practices through the implementation of European Union and other international standards. The Company strictly implements its Environmental & Community Policies.

EMED Mining is focused on two key projects in Spain and Slovakia with excellent potential to add significant value:

Copper in Spain: The copper-mining district of Spain is probably among the best known in the world for its metal endowment. The Company's first priority is to commence production of its wholly-owned Rio Tinto Mine which is the largest metal deposit in Spain and contains a fully installed and maintained operational complex - an open pit mine, copper-concentrator and waste disposal facilities.

Gold in Slovakia: The Company has made a significant gold discovery at Biely Vrch and is advancing planning and permitting for its potential development. A revised Scoping Study prepared by AMC Consultants (UK) Ltd has confirmed the attractive economics of developing a mine at Biely Vrch - based on gold prices of >US$1,000/ounce (currently >US$1,300/ounce). A matter of equal importance to the assessment of the technical merits of our projects in Slovakia is the degree of social licence gained. EMED Mining personnel have built-up outstanding relationships with the Slovak government, local communities, business chambers, scientific societies and other stakeholders that are based on integrity, transparency and progress. These stakeholders have been very supportive of the responsible development of metal production operations in Slovakia.

EMED Mining has the following other notable earlier-stage activities:

·; Exploration licences in the copper-mining districts of Cyprus;

·; An option over a tungsten deposit in Portugal; and

·; A 20% shareholding in KEFI Minerals Plc which operates exploration joint ventures in Turkey and Saudi Arabia.

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