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 
 
                                                                    8 March 2010 
BONUS ISSUE OF SHARES 
 
Medusa  Mining Limited(ASX & AIM: MML, TSX: MLL) ("Medusa" or the "Company"), is 
pleased  to announce a one for ten bonus  issue of shares to all shareholders of 
the Company. 
 
The  Company has  achieved several  significant milestones  in the last calendar 
year and the bonus issue is in recognition of the invaluable support the Company 
has  received from its shareholders. In addition, it is envisaged that the bonus 
issue will encourage greater liquidity in Medusa shares. 
 
The bonus shares will be issued for nil consideration and will be distributed on 
a  pro rata basis ofone new ordinary share for every ten ordinary shares held by 
existing shareholders at 5.00 pm (AWST) on 19 March 2010, being the Record Date. 
The  shares will be quoted  on an "ex" entitlement  basis from 15 March 2010 (16 
March  2010 on the  TSX).  Where  a shareholder's  total entitlement includes an 
entitlement  to a fraction of a share,  that entitlement will be rounded down to 
the nearest whole number of shares. 
 
 
 Principal terms and conditions of the bonus issue are as follows: 
 
   * Class of securities to be issued     :  fully paid ordinary shares 
 
   * Number of securities to be issued    :   approximately 17,038,196 ordinary 
                                          shares 
 
   * Issue price of securities            :  nil consideration 
 
   * Date  securities  quoted  on an "ex" :  15 March 2010 
     basis                                (: 16 March 2010 on the TSX) 
 
   * Record     date     to     determine :  19 March 2010 
     entitlement 
 
   * Despatch date                        :  31 March 2010 
 
 
The terms applicable to Medusa's unlisted options will be adjusted in accordance 
with the ASX Listing Rules to reflect the bonus issue. 
 
Application  will be made for the new  ordinary shares to be admitted to trading 
on AIM, which is expected to occur on 31 March 2010. 
 
Geoff Davis, Managing Director of Medusa, commented: 
 
"The  Board is extremely pleased to be in a position to reward shareholders as a 
result  of the Company having rapidly expanded  its production over the last 12 
months and having met all targets on time. This is indeed a great achievement by 
our  team in the Philippines, and as  a lowcost producer with expectations of an 
expanding  resource base, Medusa has now set itself up for a long and productive 
future." 
 
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 
 
 
 
 
 
 
[HUG#1391404] 
 

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