Atalaya Mining Regulatory News (ATYM)

14 Jan 2009 12:37



AIM: EMED 14 January 2009

RESIGNATION OF DIRECTOR

EMED Mining Public Limited ("the Company") wishes to announce that Dr. Michael Price has resigned as a director of the Company. This follows the recent expansion of the Board following the appointment of two new Directors - Dr Ross Bhappu of RCF and Mr. Ashwath Mehra of MRI . The Company wishes to thank Dr Price for the valuable input he provided to the Board during his time as a director.

ISSUE OF SHARES

Under existing loan arrangements with YA Global Investments Limited the Company has today made a repayment of USD50,000 by issuing 788,778 ordinary shares in the Company.

UPDATE TO SHAREHOLDERS

A broad-ranging update will be given to shareholders before the end of January.

Harry Anagnostaras-Adams

Managing Director

Enquiries

Notes to Editors: About EMED Mining Public Limited

EMED Mining was admitted to trading on AIM in May 2005 following a placing of its shares. The Company is based in Cyprus and has a strong commitment to responsible development of metal production operations in Europe, with an initial focus on copper and gold. 

The Group's region of interest are 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 implementation of European Union and other leading-edge international standards. The Company strictly implements its Environmental & Community Policy which includes:

Integrating environmental management into our business, planning and reporting processes.

Promoting a strong environmental ethic throughout the Company and the community.

Complying with, as a minimum, all applicable local and European Union laws and regulations.

Communicating with community stakeholders in a responsible and transparent manner.

EMED Mining has now established a strong position in the following selected zones:

Exploration areas in Slovakia are centred on a cluster of volcanic centres. Low-detection geochemical methods are being applied to these areas for the first time together with open-pit bulk mining concepts. The principal targeted mineralisation style is low-grade, bulk-mineable porphyry gold. The Company has announced gold discoveries at Biely Vrch, Kralova and Slatinske Lazy in Slovakia. 

The mines in Cyprus and at Rio Tinto in Spain, located in the Iberian Pyrite Belt, which is probably among the best known in the world for its mineral endowment. EMED Mining's goal is to restart copper production at its projects in both of these well-endowed, historical mining districts. Both Spain and Cyprus are progressive members of the European Union and EMED Mining has been made to feel welcome in both host countries. The styles of mineral deposits and production techniques are similar in both mining districts. 

Exploration areas in Turkey were vended into 32%-owned KEFI Minerals Plc which was admitted to AIM in December 2006. KEFI Minerals owns carefully selected licence areas in Turkey, as well as an extensive proprietary database of regional and specific exploration data providing a pipeline of further projects to evaluate. See www.kefi-minerals.com. 

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