EMED Mining Public Limited: Exposure to Cyprus Bank Restructuring

NICOSIA, CYPRUS -- (Marketwired) -- 04/02/13 -- EMED Mining Public Limited (AIM: EMD) (TSX: EMD)

AIM: EMED

TSX: EMD                                               02 April 2013

                     EMED Mining Public Limited

                  ("EMED Mining" or the "Company")

        Limited Company Exposure to Cyprus Bank Restructuring



EMED Mining, the Europe-based minerals development and exploration
company, updates shareholders as regards the announcement by
authorities in Cyprus of a proposed restructuring of its banks. In
essence, the impact on the Company is to reduce the previously
estimated potential cost from circa EUR270,000 to circa EUR110,000.

Background

When Cyprus temporarily suspended its banking operations on 18 March
2013, the Company held EUR210,000 in a current account of a Cypriot bank
for payment of local expenses. Other deposits were held in other banks.

On 19 March 2013, the Company formally advised shareholders of the
potential impact of up to EUR270,000 of one-off levies then proposed by
the authorities.

Based on the subsequently revised restructuring of the banks announced
by the authorities on 25 March 2013, and the implementation thereof as
from 28 March 2013 when the Cyprus banking system re-opened, the
potential impact on EMED Mining has been reduced to EUR110,000, which
amount has since been set aside to cover losses of a local bank.

We believe that the Company's other deposits are not exposed to the
restructuring of Cyprus banks.

The Global Financial Crisis of 2008 and the subsequent international
banking crises, including the current Cyprus situation, have not
affected the smooth functioning of the Company's administration in any
of its jurisdictions, including Cyprus where we employ a small team of
highly professional staff for accounting, treasury and compliance.



For more information please contact:

EMED Mining                Harry Anagnostaras-Adams    +357 9945 7843

RFC Ambrian                Stuart Laing                +61 8 9480 2500

Fox-Davies Capital         Simon Leathers/Susan Walker +44 203 463 5022

Bishopsgate Communications Nick Rome                   +44 207 562 3350

Proconsul Capital          Andreas Curkovic            +1 416 577 9927










                    This information is provided by RNS
          The company news service from the London Stock Exchange

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