Transfer of Mining Rights to Emed Tartessus (Administrative Standing, “AS”) for the Rio Tinto Copper Project

11 April, 2014

EMED is pleased to advise that the President of the Government of Andalucía, Ms. Susana Díaz Pacheco, has today announced the transfer of the Mining Rights (AS) for the Rio Tinto Copper Project owned by EMED Mining through its Spanish subsidiary EMED Tartessus.

The announcement was made today during an official visit of the President to EMED´s facilities in Minas de Riotinto, where she explained that: “Riotinto is and must continue to be an icon in Andalusian and European mining, […] from today onwards, EMED Tartessus has the authorisation to resume mining operations thus paving the way to economic growth and development for a region that has suffered greatly over the past few years”.

After the favourable resolution for the Unified Environmental Authorisation (AAU, received on 28th March) of the Rio Tinto Project, this announcement of the President of the Junta de Andalucía confirms EMED´s authorisation over the Mining Rights and clears the way to operate the Rio Tinto Copper mine.

The recent granting of the Unified Environmental Authorisation (AAU), together with today’s announcement of the transfer of the Rio Tinto Mining Rights (AS), is an important step in EMED becoming a copper producer. The Company is fully committed to mine development and the achievement of production as quickly as possible. As a brownfield site copper production can be recommenced at Riotinto in a comparatively short time frame and at a low capital cost. As a result of today’s announcement the Board looks forward to the commencement of operations and the expansion of the already sizeable reserve base.

Mr. Isaac Querub, EMED Mining CEO said “This is the first such visit of the President to the project and evidences the cooperation between the Junta de Andalucía and the Company. The project now enters the very important stage where the Company can trigger site works, complying with all requirements and preparing for copper production. This is a highly significant achievement which clears the way forward for the development of the Rio Tinto copper project. It is the result of the strong support for the Project shown by the Junta de Andalucía, the commitment and patience of its shareholders and the dedication and hard work of the Company’s staff”.

Background

Rio Tinto is an historical iconic mine situated in the world’s largest Volcanogenic Massive Sulphide (VMS) system. Operated continuously from 1873 until 2001 has produced 1.7 million tonnes of copper, 3.3 million ounces of gold and 54 million ounces of silver. EMED has established a reserve of 123Mt @ 0.49% Cu (606 kt of contained Cu). The Company is targeting a first stage base case production of 5mtpa in 2015, with expansions thereafter. The re-opening of the mine will have a significant economic impact on the Company, its investors, the local communities and Andalucía.

Enquiries

 

 

EMED Mining

Isaac Querub

+34 959 59 28 50

RFC Ambrian

Samantha Harrison

+44 7973 616 491

Fox-Davies Capital

Simon Leathers

+44 203 463 5010

Proconsul Capital

Andreas Curkovic

+1 416 577 9927

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