EMED Mining

Re-rating due

Focused on copper and gold, in Europe and the Middle East

Shortly to be listed on TSX as well as AIM, highlighting value disparity

On track for restart of Rio Tinto mine in 2011; benefitting from € costs and $ sales

Medium target per share 40p and longer term 56p - versus current 8p level

Looking forward

Re-evaluation of potential pushes longer term value to 54p / share

High probability that the Rio Tinto permitting process will complete successfully

Drilling can establish further resources; copper price holding up; US$ appreciation vs. € is a positive

Winning through

Permitting well on track for Rio Tinto mine restart

Metal prices remaining positive

Fair value rises to 37p share (versus current 13p)

Enhanced visibility

Progress in permitting for Rio Tinto mine: geotechnical drilling; mandates for rehabilitation, systems and plans

Copper trading favourably at $3/lb; gold hits new levels at $1183/oz

Fair value per share maintained at 35p versus current 11.5p level

Bouncing Back

Recovery in metals prices underlines value:

    Copper in the Rio Tinto Mine project,
    Scoping studies for Gold in Slovakia

Fair value seen at 35p / share vs. current 11p