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Press release from Marketwire

EMED Mining Public Limited announces Final Results

Monday, March 25, 2013

EMED Mining Public Limited announces Final Results03:10 EDT Monday, March 25, 2013NICOSIA, CYPRUS--(Marketwire - March 25, 2013) - EMED Mining Public Limited (AIM: EMED)(TSX: EMD)FINAL RESULTS FOR 12 MONTHS ENDED 31 DECEMBER 2012 25 MARCH 2013EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "theCompany"), the Europe-based minerals development and explorationcompany, announces its audited results for the year ended 31 December2012.The full audited report (as required by Toronto Stock Exchange),including consolidated Financial Statements and the ManagementDiscussion and Analysis relating to the Company, are also availableunder the Company's profile on SEDAR at www.sedar.com and on theCompany's website at www.emed-mining.com . Key Highlights for 2012- The start of construction works at the Rio Tinto Copper Mine remains targeted for H2-2013 and production for H2-14;- Andalucian Government key approvals required for the project restart have progressed as follows:- Environmental Plans (AAU): the complete report of AAU public comments from the Environment Ministry of the Junta de Andalucia was received in October 2012 and EMED has completed its responses to the few comments received from the public. The Department of Environment has drafted its conditions of approval to call for any final comments within 15 days from the seven third parties which made comments during the public review period;- Administrative Standing: all documents in respect of legal, technical and economic capacities were updated as at the beginning of September, as requested by the regulatory authority, and lodged for final clearance. The Department has advised that the only outstanding requirements are: o the approval of the AAU by the Department of Environment, and o an opinion from the Central Government's technical review agency for civil engineering CEDEX (Centro de Estudios y Experimentacion de Obras Publicas) with regard to the proposed conditions to be applied to the tailings deposit plan.- Final Restoration Plan: Upon the setting of conditions to approval of the AAU, the Company will update the Restoration Plan so that it can proceed to public viewing and approval.- Project Approval (Mining Permit or Exploitation Rights): o The independent review of the Project as a whole was completed in Q4-2012 by the Central Government's technical review agency for mining, Instituto Geologico y Minero de Espana ("IGME"). o The independent review of the tailings deposit for geotechnical safety is the responsibility of Centro de Estudios y Experimentacion de Obras Publicas ("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.- In preparation for the setting of bonds and indemnities required to protect the project, the Company has installed civil liability insurance of EUR180 million in respect of the tailings deposit.- On 14 November 2012, the Company announced that it has entered into conditional agreements with Red Kite, for an aggregate funding package of US$50 million in return for limited off-take rights over the Rio Tinto Copper Project's copper production based on current reported life of mine reserves.- On 31 August 2012, EMED completed the acquisitions of certain land plots required for planned operations of the Rio Tinto Copper Project, pursuant to sale and purchase agreements entered with Rumbo 5-Cero, S.L. and Inland Trading 2006, S.L.- In March 2012, the Company entered into agreements with a cornerstone customer Yanggu Xiangguang Copper Co. Ltd ("XGC"), including XGC's provision of US$15 million for 10% fully-diluted ordinary equity in the Company. In addition XGC will provide or arrange a US$15 million subordinated debt facility as required by the providers of senior debt finance. On 28 August 2012, XGC subscribed a further US$5 million equity. In return, XGC was granted offtake rights over a total of 30% of current reported copper reserves at market prices.- In March 2012, the Company mandated Goldman Sachs International on an exclusive basis to provide and/or arrange up to US$175 million of finance for the restart of the Rio Tinto Copper Mine.- In Slovakia, the Detva Gold Project focuses on community consultation as part of the processing of its application for the regulatory approval of its Mining Lease Area, which has already been approved at the District Level and will now be referred the national regulator.Post Period Events, other than any forementioned- On 18 February 2013, the independent technical expert Behre Dolbear has completed an updated NI 43-101 technical report on the Rio Tinto Copper Project and endorsed EMED's planned base case annual production of existing ore reserves at 9.0m tonnes per annum over 14 years from the Cerro Colorado deposit.Mr. Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining,commented:"We are poised at a very delicate and exciting stage, workingveryclosely with the authorities in Andalucia and making every effort toexpedite the triggering of the Project, to start works in the secondhalf of 2013 and ramp-up production by the end of 2015."Our modus operandumremains to expedite the start-up whilst carefullymanaging the hiring of people and the spending of capital, in orderthat progress on the ground remains synchronized with the progress ofregulatory permitting."Enquiries:Investors/Media:Harry Anagnostaras-Adams +357 9945 7843,Roger Howe +61 405 419 139In North America: Andreas Curkovic +1 416-577-9927 This information is provided by RNS The company news service from the London Stock ExchangeENDFOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: RNSCustomerServices0044-207797-4400rns@londonstockexchange.comhttp://www.rns.com