Atalaya Mining Regulatory News (ATYM)

AIM: EMED

TSX: EMD 21 March 2013

EMED Mining Public Limited

("EMED Mining" or "the Company")

Rio Tinto Copper Project Update

EMED Mining, the Europe-based minerals development and exploration company, is pleased to provide the following update of its Rio Tinto Copper Project in Spain ahead of presentations to be given by Company officers to a scheduled site visit by analysts and an investor forum in London.

Mr Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining, said, "This week we had a series of meetings between our Board of Directors and the representatives of the Andalucian Government who oversee the regulatory process for our Rio Tinto Copper Project. We are pleased to have satisfactorily discussed the proposed conditions of approval and the process for formalising permission to start the project works. It seems that all key stakeholders are working to allow works to be triggered in the second half of 2013."

·; As a result of this week's meetings, the Company maintains the target date of end-2015 for establishing initial base case production of 37,000 tonnes copper-in-concentrate per annum, with construction starting in H2-2013 and production in H2-2014.

·; Principal regulatory consents required from the Departments of Environment and Industry for triggering the start in Q3-2013 of Pre-Works (ie removal of asbestos and other tasks to allow major works to proceed along with the concomitant mobilisation of contractors and personnel):

o Formal approval of the Environmental Plans (AAU):

§ The Department of Environment has drafted its conditions of approval to call for any final comment within 15 days from the seven third parties which made comments during the public review period. It is believed that all relevant matters have been covered in the Company's plans, third parties have no right of appeal and formal conditional approval is expected during Q2-2013.

o Formal approval of the Administrative Standing (administrative recognition of the transfer of the Company's Mineral Rights) by the Department of Industry:

§ Administrative Standing requires the regulatory clearance of economic, technical and legal "capacities" for a viable Project. The Department has advised that the only outstanding requirements are:

·; the approval of the AAU by the Department of Environment, and

·; an opinion from the Central Government's technical review agency for civil engineering CEDEX (Centro de Estudios y Experimentación de Obras Públicas) with regard to the proposed conditions to be applied to the tailings deposit plan.

·; Principal regulatory consents required from the Department of Industry for triggering in Q4-2013 the full start-up works leading to commissioning of mining and processing operations:

o Final Restoration Plan:

§ Upon the setting of conditions to approval of the Environmental Plans, the Company will update the Restoration Plan so that it can proceed to public viewing and approval.

o Project Approval (Mining Permit or Exploitation Rights):

§ The independent review of the Project as a whole was completed in Q4-2012 by the Central Government's technical review agency for mining, IGME (Instituto Geológico y Minero de España). IGME's supportive formal report was received in Q4-2012.

§ The independent review of the tailings deposit for geotechnical safety is the responsibility of CEDEX. Its initial report with supportive conclusions was received in Q4-2012 and now stands pending completion in Q2-2013 of due diligence on sections of the tailings dam acquired by the Company in August 2012. This will facilitate approval of final refinements to the tailings deposit in order to ensure safety margins with respect to Best Available Techniques for environmental, economic and other relevant criteria.

o Bonding for environmental commitments and protection of personnel entitlements:

§ The Company has started to engage on the matter of the Bonding, which can only be resolved by the authorities after approval of the Final Restoration Plan.

§ In the meantime, we have implemented the €180 million civil liability insurance on the tailings deposit on a basis pre-agreed with the regulators.

The Company is excited about the future prospects and is looking forward to updating the market in due course. For more information please contact: