Medusa Mining Limited Exercise of Options and Issue of Equity

MEDUSA MINING LIMITED
ABN: 60 099 377 849
Como WA 6152
Internet: www.medusamining.com.au


Medusa Mining Limited Exercise of options

Medusa Mining Limited ("Medusa" or "the Company") announces that it has today issued:

750,000 new ordinary shares of nil par value in the Company, following the exercise of options by certain employees of the Company at an exercise price of Aus$0.7128 per share; and
190,000 new ordinary shares of nil par value in the Company, following the exercise of options by certain employees 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 940,000 new ordinary shares to be admitted to trading on AIM, which is expected to occur on 16 November 2009.

Following the issue of the new ordinary shares, the Company has a total of 169,781,960 ordinary shares of nil par value in issue.


HUGIN /Source: Medusa Mining Ltd /LSE: MML /ISIN: AU000000MML0