Atalaya Mining Regulatory News (ATYM)

EMED MINING QUARTERLY OPERATIONAL UPDATE

EMED Mining is listed on AIM (Code: EMED) and the TSX (Code: EMD)

3 July 2013

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 the following operational update for the period 01 April 2013 to 30 June 2013. The full Quarterly Report, including consolidated Financial Statements and the Management Discussion and Analysis, will be issued in mid-August 2013.

Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining, commented:

"Along with the regulatory authorities of the Andalucian Government we are focussed on triggering project works at the Cerro Colorado open pit of the Rio Tinto Copper Mine around the end of 2013 and production in late 2014.

"We are pleased to report public affirmation of this timetable by the Andalucian Minister for Industry, Mr Antonio Avila, who recently in a press conference confirmed EMED Mining´s forecast calendar for achieving later this year the key permits required to trigger site start-up works."

Spain-Rio Tinto Copper Project

Project Plans:

·; The Company targets for site works to start at end-2013, initial production in late-2014 and ramp-up to base case production of 37,000 tonnes pa of copper in concentrate by end-2015. The engineering, human resources and other preparatory activities will continue to advance as warranted by regulatory permitting.

·; As regards exploration potential, the Company reported its successful application for the Aguilas Two Exploration Licence located 8 kilometres from the Rio Tinto Copper Project. Combined with the Company's other ancillary local mineral concessions, this reinforces the Company's 100%-ownership of the tenements for the Rio Tinto Copper Project and surrounding district.

·; The Company plans drilling programmes during the initial restart works, with a view to expanding planned annual production and project life from the Cerro Colorado Open Pit and also from the higher-grade underground mines on the property.

Permitting:

·; The Company has completed and lodged the reports requested by the Andalucian Government's Departments of Industry and Environment to substantiate compliance with the conditions set in April and May 2013 respectively for the tailings management facility (TMF). The completion of these reports allows the processing of the permits required prior to site start-up works - mainly Environment Plans (AAU) and Administrative Standing (AS).

·; The completed reports include plans for: (a) tailings deposition density and location within the already-approved wall height and footprint of the TMF, (b) progressive rehabilitation of the TMF, and (c) management of process water for recycling within the production circuit and of rainwater for diversion away from the site.

·; The next steps for approval of these TMF refinements include the formal issuance of an "independent opinion of viability" by the Government's independent technical expert CEDEX and public comment in respect of the changes to Environmental Plans to reflect these TMF refinements, followed by issuance of draft approvals and then final approvals.

·; The Company has also formalised its commitment to complete the due diligence to support the grant of the Mining Permit for operations to commence next year and to the requested research and development during operations to optimise sealing waste dumps and tailings deposits upon final site closure.

Slovakia: In Slovakia, the Detva Gold Project's Mining Lease Area has been approved at the District Level. However local activists have elevated community concerns and the Company currently focuses on community education and consultation.

KEFI Minerals: Affiliate KEFI Minerals (15%-owned by EMED Mining) reported maiden JORC compliant inferred resource of its G&M Joint Venture's gold discovery at the Jibal Qutman exploration licence in the Kingdom of Saudi Arabia.

Corporate:

·; The Annual General Meeting was held at Minas de Riotinto, with all resolutions being passed by shareholders.

·; £9.6 million (approximately US$15 million) conditionally raised through the issue of new convertible secured loan notes to XGC and Red Kite;

·; The Notes convert into Ordinary Shares at 9 pence per share which represents a premium of 58% over the current 5 day volume-weighted average price of the Ordinary Shares on AIM ("VWAP") immediately prior to the day the proposed financing was announced on 13 June 2013;

·; Proposed increase in the existing off-take arrangements with Red Kite and XGC;

·; The Company's Directors and other officers exercised any expiring options which were in the money;

·; An updated Shareholder Power Point Presentation has been uploaded to the Company's website.

Enquiries:

Investors/Media: Harry Anagnostaras-Adams +357 9945 7843.

In North America: Andreas Curkovic +1 416-577-9927

General: Email: info@emed-mining.com 

Cautionary Notes

This announcement contains "forward looking information" within the meaning applicable Canadian securities legislation. "Forward looking information" may also include statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, the future price of metals, the estimation of ore reserves and resources, the conversion of estimated resources into reserves, the realisation of ore reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. 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 "does not anticipate", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Accordingly, readers should not place undue reliance on forward looking statements.

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. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; the future costs of capital to the Company; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability, terrorist attacks, insurrection or war; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward looking statements contained herein are made as of the date of this announcement and the Company disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.