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 
 
                                                                     3 June 2010 
 
                             MEDUSA MINING LIMITED 
                          ("Medusa" or the "Company") 
 
                              Exercise of Options 
 
Medusa  Mining Limited, ("Medusa" or the  "Company") announces that it has today 
issued  110,000 new ordinary shares  of nil par  value in the Company, following 
the  exercise of options by  an employee of the  Company at an exercise price of 
Aus$1.25 per share. 
 
The  new ordinary shares will rank pari  passu with existing ordinary shares and 
application will be made for these new ordinary shares to be admitted to trading 
on AIM, which is expected to occur on 9 June 2010. 
 
Following  the issue  of the  new ordinary  shares, the  Company has  a total of 
187,529,911 ordinary shares of nil par value on issue. 
 
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 Services Limited         +44 (0)20 7868 2010 
 
 Michael Padley/Libby Moss 
 
 
 Canada 
 
 Nicholas Sayce, Investor Relations          +1 416 822 4404 
 
 
 
 
[HUG#1421348]
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