MML Medusa Mining

    Director Shareholding
             



24 September 2008


                        MEDUSA MINING LIMITED
                             (AIM: MML)


             DIRECTOR'S SHAREHOLDING/EXERCISE OF OPTIONS


Application has been made for the admission to trading on AIM of
500,000 ordinary shares of no par value of the Company with admission
expected to take place on 29 September 2008.

The shares have been issued following the exercise today of options
by Kevin Tomlinson, Non-executive Chairman at A$0.90 per share.
Following the exercise of these options Mr Tomlinson has an interest
in 782,950 shares of the company which is equal to 0.54% of the
issued share capital of the Company.

Following the issue of these shares, Medusa will have a total of
145,807,548 ordinary shares with voting rights in issue.


For further information, please contact:


Medusa Mining Limited                   +61 8 9367 0601
Geoffrey Davis, Managing Director
Roy Daniel, Finance Director

Fairfax I.S. PLC                        +44 (0)20 7598 5368
Nominated Adviser/Joint Broker
Ewan Leggat

Mirabaud Securities Limited             +44 (0)20 7321 2508
Joint Broker
Peter Krens

Lothbury Financial                      +44 (0)20 7011 9411
Michael Padley/Louise Davis

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