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/> 
 
 
8 February 2010 
 
 
 
                              Presentation Update 
 
Medusa  Mining announces  the update  of its  Investor presentation  for various 
venues in Sydney and Melbourne, for the week commencing 8 February 2010.  Please 
see the link at the end of this announcement. 
 
Please  find  below  Competent  Persons'  Consents  in  relation to resource and 
reserve information which appears therein. 
 
 
Competent Persons' Consents 
 
Information   in   this  report  relating  toExploration  Results  is  based  on 
information  compiled  by  Mr  Geoff  Davis,  who  is a member of The Australian 
Institute  of Geoscientists. Mr Davis is  the Managing Director of Medusa Mining 
Limited  and  has  sufficient  experience  which  is  relevant  to  the style of 
mineralisation  and type  of deposits  under consideration  and to  the activity 
which  he is undertaking  to qualify as  a "Competent Person"  as defined in the 
2004 Edition  of  the  "Australian  Code  for  Reporting of Exploration Results, 
Mineral  Resources and Ore Reserves"  and is a "Qualified  Person" as defined in 
"National  Instrument  43-101" of  the  Canadian  Securities Administrators.  Mr 
Davis  consents  to  the  inclusion  in  the  report of the matters based on his 
information in the form and context in which it appears. 
 
Information  in this report relating toMineral  Resources has been estimated and 
compiled  by Mark Zammit of Cube Consulting Pty Ltd of Perth, Western Australia. 
Mr  Zammit is a member of The  Australasian Institute of Mining & Metallurgy and 
has  sufficient experience that  is relevant to  the style of mineralisation and 
type  of deposit under consideration and to the activity which he is undertaking 
to  qualify  as  a  Competent  Person  as  defined  in  the  2004 Edition of the 
"Australian Code for Reporting of Exploration Results, Mineral Resources and Ore 
Reserves"  and  is  a  "Qualified  Person"  as  defined  in "National Instrument 
43-101" of  the Canadian  Securities Administrators.  Mr Zammit  consents to the 
inclusion  in the report of the matters based on his information in the form and 
context in which it appears. 
 
Refer    to    the    Technical   Report   which   was   filed   onwww.sedar.com 
<http://www.sedar.com/>  in  November  2009 for  further  discussion of the Co-O 
Deposit's   geology,   structural  controls,  drilling,  sampling  and  assaying 
information,  and any  known material  environmental, permitting,  legal, title, 
taxation, socio-political, marketing or other relevant issue. 
 
 
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 
conductingnear 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 > 800km2. 
 
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/Broker 
 
  Ewan Leggat 
 
  Lothbury Financial                         +44 (0)20 7011 9411 
 
  Michael Padley/Libby Moss 
 
  Canada 
 
  Nicholas Sayce, Investor Relations         +1 416 822 4404 
 
 
 
 
 
 
[HUG#1381351] 
 
 
 
 
 
    Presentation Update: http://hugin.info/138050/R/1381351/340642.pdf 
 

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