TIDMMML

RNS Number : 9309O

Medusa Mining Limited

18 October 2012

 
              MEDUSA MINING LIMITED 
                ABN: 60 099 377 849 
          Unit 7, 11 Preston Street 
                       Como WA 6152 
                         PO Box 860 
             Canning Bridge WA 6153 
          Telephone: +618-9367 0601 
          Facsimile: +618-9367 0602 
   Email: admin@medusamining.com.au 
  Internet: www.medusamining.com.au

18 October 2012

Co-O MINE SHAFTS UPDATE

(ASX & LSE: MML)

Medusa Mining Limited ("Medusa" or the "Company"), through its Philippines operating company Philsaga Mining Corporation is pleased to advise that the Baguio Shaft was re-commissioned last week, with an increased haulage capacity of 350 tonnes per day (up previously from 250 tonnes per day).

The Saga Shaft reached its target depth of 350 metres in the first week of September. With the plat cut and prepared, work on excavation of the loading chute, work shop areas and other facilities are well underway. The new winder and skips for the Saga Shaft are scheduled to be commissioned late in December.

For further information please contact:

 
 Australia 
 Medusa Mining Limited          +61 8 9367 0601 
 Peter Hepburn-Brown, 
  Managing Director 
 
 United Kingdom 
 Fairfax I.S. PLC, Financial    +44 (0)20 7598 
  Adviser and Broker             5368 
 Ewan Leggat/Laura Littley

DISCLAIMER

This announcement may contain certain forward-looking statements. The words 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan' and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Medusa, and its officers, employees, agents and associates, that may cause actual results to differ materially from those expressed or implied in such statements.

Actual results, performance or outcomes may differ materially from any projections and forward-looking statements and the assumptions on which those assumptions are based.

You should not place undue reliance on forward-looking statements and neither Medusa nor any of its directors, employees, servants or agents assume any obligation to update such information.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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