MML Medusa Mining

 
TIDMMML 
 
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 <mailto:admin@medusamining.com.au> 
      Internet:  www.medusamining.com.au <http://www.medusamining.com.au/> 
 
 
                                                                    ANNOUNCEMENT 
                                                                   15 April 2010 
AIM Cancellation & Admission to the Official List 
 
Medusa Mining Limited (ASX and AIM - MML; TSX - MLL) ("Medusa" or the "Company") 
is  pleased to announce that  it intends to apply  for admission of its ordinary 
share  capital to the Official  List of the UK  Listing Authority (the "Official 
List")  and to  trading on  the London  Stock Exchange's  Main Market for listed 
securities (the "Main Market"). 
Medusa  hereby gives notice, pursuant to Rule 41 of the AIM Rules for Companies, 
of the intended cancellation of trading of the Company's issued share capital on 
AIM. 
It is expected that the Company's ordinary shares, of no par value each, will be 
simultaneously  admitted to the Official List and  to trading on the Main Market 
upon  cancellation of trading  on AIM on  or around 17 May  2010, subject to the 
receipt  of the necessary approvals from the UK Listing Authority and the London 
Stock Exchange. 
Fairfax  I.S. PLC has been appointed as Financial Adviser and Broker in relation 
to the move to the Official List. 
Investors  should consult  their personal  tax advisers  with respect to the tax 
implications  of the move  to the Official  List and the  Main Market. A further 
announcement will be made in due course. 
Geoff Davis, Managing Director of Medusa, commented: 
"The  Directors believe that Medusa is now  of a size and stature that justifies 
and  qualifies its graduation from AIM to the Official List. The Company regards 
the  Main Market as an ideal platform to raise the Company's profile on a larger 
scale. 
It  is envisaged that this move will give the Company access to a wider group of 
investors  who recognise the growth potential of  the Company in an area that we 
are confident will develop and be recognised as an important mineral province in 
the years ahead ". 
 
 
For further information please contact: 
 Australia 
 
 Medusa Mining Limited                      +61 8 9367 0601 
 
 Geoffrey Davis, Managing Director 
 
 Roy Daniel, Finance Director 
 
 United Kingdom 
 
 Fairfax I.S. PLC                           +44 (0)20 7598 5368 
 
 Nominated Adviser and Broker 
 
 Ewan Leggat/Laura Littley 
 
 Lothbury Financial                         +44 (0)20 7011 9411 
 
 Michael Padley/Libby Moss 
 
 Canada 
 
 Nicholas Sayce, Investor Relations         +1 416 822 4404 
 
 
ABOUT MEDUSA MINING LIMITED 
Medusa  Mining Limited ("Medusa"  or the "Company"),  a public company listed on 
the  ASX, AIM and the TSX, is an Australian based gold producer, focussed solely 
on the Philippines. 
With  current mineral resources comprising  indicated 580,000 ounces of gold and 
inferred  1,310,000 ounces of gold,  Medusa's corporate strategy  is to become a 
mid-tier 300,000 to 400,000 ounce per year, low-cost gold producer. 
The   Company   is  currently expanding  its high  grade  Co-O  Mine  operations 
(indicated  resources 580,000 ounces of gold inclusive  of a probable reserve of 
500,000 ounces  of  gold,  and  inferred  resources  660,000 ounces  of gold) to 
increase  its forecast  production to  100,000 ounces per  year in  2010, and is 
conducting   near  mine  exploration to  assess  the  possibilities  of  further 
expansion  to 200,000 ounces per year.  Current cash  costs at the Co-O Mine are 
approximately US$190 per ounce. 
A  pipe-line of deposits  is now being  established with the Bananghilig Deposit 
(inferred  resource  of  650,000 ounces  of  gold)  recently  added and which is 
expected to expand, potentially in conjunction with nearby discoveries. 
Further  potential upside exists in the discovery of substantial copper deposits 
within the tenement holding of more than 800km2. 
 
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. 
 
 
 
[HUG#1403819] 
 

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