Medusa Mining"s Philippines operating company Philsaga Mining Corporation has recently gained access to the Sinug-ang Prospect adjacent to the north of the Co-O Mine by executing an agreement with an underlying Small Scale Mining Permit owner in exchange for a 5% NSR royalty below 20m from surface.

The Sinug-ang Prospect was explored in the 1980s by surface sampling and drilling. The vein zone is more than 1000 metres long trending in a North-North West direction parallel to the Philippine Rift Fault trend.

Some small scale mining activities of selected parts of the vein over a strike length of approximately 600 metres have been undertaken to a depth of approximately 175 metres below surface.

Philsaga will start drilling below old workings shortly once drill pad preparations are complete.

Meanwhile, surface work on the Gamuton Vein system has outlined a section of gold-bearing vein approximately 200m long with values to 11.2 grams per tonne gold over 1.2 metre width in trenches.

The vein lies along the footwall of an extensive westerly trending breccia zone which is up to approximately 50 metres wide. Other veins occur in the breccia zone. Drill sites are being prepared for the first 2 drill holes.

Meanwhile the board of Medusa Mining Limited is pleased to announce the appointment of Ambrian Partners Limited as the company's nominated advisor and broker in relation to the company's proposed admission to the Alternative Investment Market of the London Stock Exchange in the second half of this year.

Ambrian, a wholly owned subsidiary of Golden Prospect (a natural resource investment bank quoted on AIM), is exclusively focused on resource companies and provides clients with technical knowledge and understanding from its team which include experienced geologists, mining and chemical engineers.