Atalaya Mining Regulatory News (ATYM)

AIM: EMED, TSX: EMD 27 October 2011

EMED Mining receives requests for additional documentation to facilitate approval of Administrative Standing at the Rio Tinto Mine

EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "the Company"), the Europe-based minerals development and exploration company, is pleased to announce that the Junta de Andalucia (the "Government") has formally confirmed the further information and the basis for the documents it requires so that it may process the permit most critical to the project timetable - the administrative approval of the Company's mineral rights ("Administrative Standing"). This formal confirmation, received on 26 October 2011 raises no new conditions and it lists the topics and documents which require any detail additional to that already provided by the Company. The Company will keep shareholders informed as it completes these matters.

The Company has already responded to the Government that it will prepare answers on all matters progressively over the forthcoming weeks. Some responses are already on hand whilst other matters can now be addressed to the extent possible without access to the third party lands in respect of which the Company will accept future responsibility. The Company will supply sufficient existing information to allow the process to keep proceeding in a timely manner.

The area which has always been the most sensitive is the tailings dams. In this respect the Company has already committed to complying with the latest European standards, which are particularly stringent, and is pleased to provide further refinement and expanded detail of requested particulars including safety factors for tailings dam lifting, operation, closure, capping and rehabilitation, and post closure maintenance. It is important to note that, from the outset, we have engaged EPTISA as advisers - the leading tailings dam engineers in Spain and the original designer of the tailings dams.

EMED Mining has always recognised that it will be inheriting, from the previous operator, tailings dams which require improvement in condition and operation, along with the introduction of a proper closure plan, rehabilitation bonds, associated insurances and performance guarantees. It is notable that the Government has also provided the Company with a copy of complaints and allegations made by the previous operator against EMED Mining and against the Government and has requested that the Company's responses also cover any relevant matters raised therein.

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

"We are delighted that the actions of the Government are indicative of wanting to achieve a project restart in third quarter 2012. We also are happy to provide further information as requested and to refine previous documents to cover all issues of reasonable concern to all stakeholders in this important project.

"We will respond as fast as possible and we have absolute confidence in the reliability of our plans, our team and our independent expert consultants.

"It is also gratifying that during the past two weeks all major political parties, all local mayors and the union representing our personnel have openly declared their support for the Company and the restart of the Rio Tinto Mine. We clearly all want to expedite the granting of permits so we can achieve our project timetable within full compliance of the law and regulations."

-ENDS-

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