Co-O Mine Drilling Update

 
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:  [phone] 
                                           Facsimile:  [phone] 
                                    Email:  [e-mail] 
                                    Internet: www.medusamining.com.au 
 
 
 
22 June 2009 
 
 
 
                      Co-O MINE DRILLING UPDATE 
 
Medusa Mining Limited ("Medusa" or the "Company"), through its 
Philippines operating company Philsaga Mining Corporation 
("Philsaga"), announces an update of drilling results for holes MD 
114 to MD 165 from the Co-O Mine subsequent to the announcement of 1 
December 2008. High grade extensions have been intersected to the 
east of the Co-O Mine extending the vein system to around 1,400 
metres long. 
 
These results will be incorporated into a new resource estimate due 
in July 2009. 
 
Highlights include: 
 
+---------------------------------------+ 
| Hole Number | Intercepts |   Grade    | 
|             |  (metres)  | (g/t gold) | 
|-------------+------------+------------| 
| MD 125      |       1.15 |     167.63 | 
|-------------+------------+------------| 
| MD 126      |       1.50 |     140.52 | 
|-------------+------------+------------| 
| MD 130      |       1.30 |    33.86 * | 
|-------------+------------+------------| 
| MD 132      |       0.95 |      52.18 | 
|-------------+------------+------------| 
| MD 133      |       1.00 |      40.94 | 
|-------------+------------+------------| 
| MD 134      |       2.60 |    56.08 * | 
|-------------+------------+------------| 
| MD 138      |       1.05 |      26.93 | 
|-------------+------------+------------| 
| MD 139      |       1.50 |    19.08 * | 
|-------------+------------+------------| 
| MD 146      |       0.50 |   100.27 * | 
|-------------+------------+------------| 
| MD 148      |       1.65 |      32.73 | 
|-------------+------------+------------| 
| MD 153      |       2.30 |    12.13 * | 
|-------------+------------+------------| 
| MD 156      |       2.85 |    19.63 * | 
|-------------+------------+------------| 
| MD 158      |       3.05 |      18.76 | 
+---------------------------------------+ 
 
                        * Intersection east of Agsao River 
Discussion 
Figure 1 (please see the link at the end of this announcement) shows 
all the diamond drill holes from MD 114 to MD 165 totalling 28,985 
metres which have been completed around the Co-O Mine since 1 
December 2008. 
 
The recent programme has concentrated  on infill and extensional  (up 
and down dip,  and laterally)  drilling within  the current  resource 
model which allows us to firm up the model. In addition,  extensional 
drilling to the east of the Agsao River for continuation of the veins 
has commenced and  is providing  good initial  results. The  drilling 
east of the Agsao River has been deep to date to ensure intersections 
are achieved and to demonstrate that the veins are present. Shallower 
drilling  will  also  be  conducted  to  ascertain  the  top  of  the 
mineralisation. 
 
Drill results 
Table I lists the surface diamond drilling results greater than 3 g/t 
gold from the Co-O Mine for drill holes from MD 114 to MD 165.  These 
drill hole results are the accepted results that will be incorporated 
into the  new  resource estimate  due  in July  2009.  Other  reports 
containing intersections for holes numbered below MD 114 in 2008  are 
dated 1 December and  11 August 2008. In  2007 the announcements  are 
dated 9 July,  15 May and  28 February. The  2007 announcements  also 
contain information  regarding  drilling  and  surveying  techniques, 
comments  on  vein  interpretation  and  methodologies  and  assaying 
protocols. 
 
Results  down  to  0.2  metres  wide  are  reported  as   underground 
development shows that in many cases as veins approach  cross-cutting 
faults, they narrow  down on both  sides of  the fault over  5 to  10 
metres before widening out, and hence the narrower intersections  are 
important  in  defining  the   vein  continuity.  Most  drilling   is 
sub-parallel to the fault direction and rarely intersects the faults, 
which are subsequently identified by underground on-vein development. 
 
Table I. Drill hole results >3 g/t gold and >0.2 metres downhole for 
holes MD 114 to MD 165. 
 
+-------------------------------------------------------------------------+ 
|       |        |        |     |         |          |          |  Grade  | 
|Hole   |  East  | North  | Dip | Azimuth |   From   |  Width   | (uncut) | 
|       |        |        | (*) |   (*)   | (metres) | (metres) |  (g/t   | 
|       |        |        |     |         |          |          |  gold)  | 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|EAST of|        |        |     |         |          |          |         | 
|AGSAO  |        |        |     |         |          |          |         | 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 127 |  614352|  912938|  -45|      160|    243.45|      0.30|    26.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    362.70|      1.00|    25.14| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    448.10|      0.65|     5.23| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 130 |  614426|  912939|  -57|      157|    332.60|      0.60|     4.07| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    422.70|      0.75|     6.03| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    587.45|      0.25|     7.53| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    597.90|      1.30|    33.86| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    604.70|      0.70|     9.23| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 134 |  614450|  912991|  -60|      159|    442.30|      2.60|    56.08| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    620.00|      1.00|     3.27| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    636.00|      1.75|     5.00| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    725.05|      0.25|    14.87| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 139 |  614426|  912941|  -60|      185|    225.95|      0.30|     8.92| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    355.40|      1.30|     5.18| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    382.40|      1.50|    19.08| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    386.35|      0.30|     6.12| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    399.75|      0.50|     8.83| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    487.30|      0.25|    44.67| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 145 |  614351|  912939|  -62|      159|    204.55|      0.25|     3.38| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    208.90|      0.45|    18.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    325.75|      0.65|     4.61| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    593.45|      0.30|    22.40| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    609.65|      0.20|     4.60| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 146 |  614432|  912959|  -58|      158|    328.35|      0.50|   100.27| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 153 |  614450|  912994|  -64|      159|    338.35|      0.20|    14.61| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    380.70|      0.25|   105.02| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    388.40|      0.20|    14.20| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    403.80|      0.35|    54.89| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    478.05|      2.30|    12.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    500.90|      1.00|     3.77| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    635.75|       0.2|     3.60| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    668.60|      1.35|     3.77| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    775.40|      1.00|     3.36| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 156 |  614512|  912991|  -60|      158|    678.95|      2.85|    19.63| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 163 |  614351|  912939|  -45|      165|    325.15|      0.85|     5.37| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    303.50|      0.35|     5.37| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    498.45|      1.95|     4.11| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 165 |  614627|  912956|  -59|      166|    514.20|      2.30|     3.04| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|WEST of|        |        |     |         |          |          |         | 
|AGSAO  |        |        |     |         |          |          |         | 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 115 |  613935|  913000|  -77|      190|     51.20|      0.60|     4.05| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    141.85|      0.35|     7.19| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    194.30|      0.30|    14.93| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    198.40|      1.40|     3.82| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    283.35|      0.50|     3.84| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    332.35|      0.80|     3.06| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    347.35|      4.85|     3.91| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    509.40|      0.40|     3.03| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 116 |  613238|  912894|  -50|      158|    137.60|      0.25|    27.93| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 118 |  613844|  912883|  -69|      180|    242.20|      0.70|    14.70| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    321.40|      1.00|     3.09| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 119 |  613239|  912901|  -67|      163|    171.40|      1.70|    10.34| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 120 |  614127|  912738|     |         |    246.90|      1.30|    16.54| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 121 |  613935|  913001|  -73|      193|     76.00|      0.20|     4.43| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |     95.65|      0.75|    13.53| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    161.80|      1.50|     3.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 124 |  613386|  912864|  -79|      180|    136.50|      1.60|    16.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    198.75|      0.25|     9.87| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    294.80|      0.20|     3.09| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 125 |  613766|  912844|  -77|      180|     69.35|      0.20|     6.61| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    169.70|      0.20|     3.72| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    232.95|      0.30|     6.60| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    267.60|      1.20|     7.95| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    452.95|      1.15|   167.63| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 126 |  614116|  912750|  -72|      159|    253.60|      1.50|   140.52| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    348.95|      0.70|     3.02| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 129 |  614091|  912783|  -63|      205|    238.55|      0.25|     3.44| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 131 |  613720|  912874|  -72|      180|    239.10|      2.35|     6.23| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    287.80|      0.70|     5.12| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    336.65|      0.35|     4.23| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    341.70|      1.75|    11.35| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    346.10|      1.50|     7.72| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    355.80|      0.65|     3.07| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    445.60|      4.50|     7.50| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 132 |  613403|  912867|  -52|      150|    116.05|      0.30|    55.97| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    188.50|      0.20|    26.87| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    206.10|      0.95|    52.18| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    208.30|      2.50|     9.55| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 133 |  613532|  912849|  -77|      196|     68.35|      1.00|    40.94| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    132.55|      0.35|    51.29| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    223.20|      0.20|     8.17| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    232.95|      2.45|     4.37| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    274.70|      0.50|    11.02| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    290.10|      1.60|     5.38| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    294.85|      1.25|     3.92| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    299.45|      0.20|    11.96| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    301.00|      0.25|     6.59| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    306.10|      0.25|     4.60| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    347.05|      0.20|    17.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    440.10|      0.20|     5.41| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 135 |  613904|  912923|  -68|      203|    124.45|      3.55|     4.36| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    377.10|      1.45|     3.92| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    386.85|      0.20|     8.67| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    418.75|      0.25|    89.12| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    466.70|      0.80|    13.03| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 137 |  613710|  912859|  -81|      180|     64.15|      0.45|     3.19| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    181.70|      0.20|    12.58| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    204.80|      0.25|    81.48| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    384.00|      0.65|     4.04| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    521.10|      1.00|     8.74| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    533.70|      5.45|     4.65| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 138 |  613513|  912859|  -84|      178|     59.75|      0.40|     4.44| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |     73.95|      0.35|     3.47| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |     80.10|      0.25|    23.50| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |     90.65|      0.20|    30.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    163.35|      1.05|    26.93| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    205.35|      0.45|    16.19| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    216.20|      0.30|     7.72| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    256.10|      2.00|     4.58| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    259.75|      0.20|     8.57| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    322.50|      0.30|     4.03| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 140 |  613400|  912866|  -60|      187|    114.60|      0.20|    52.90| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    121.20|      0.20|    24.51| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    122.80|      0.25|    27.94| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    203.85|      2.00|     7.00| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 141 |  613709|  912874|  -74|      221|    188.50|      0.30|     7.83| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    244.40|      0.55|    16.33| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    264.20|      0.50|    10.93| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    275.95|      0.40|     3.37| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    286.80|      0.60|    12.83| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    298.80|      0.20|    19.40| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    500.50|      1.00|    19.13| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 148 |  613400|  912867|  -75|      187|     69.65|      0.30|     8.17| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    120.10|      0.45|    14.70| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    132.45|      0.25|    37.30| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    192.05|      0.20|    11.87| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |   234..90|      1.65|    32.73| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 152 |  613422|  912801|  -69|      190|    123.90|      1.25|     9.28| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    131.00|      0.80|    40.22| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 154 |  613875|  912807|  -55|      190|    124.80|      0.70|    17.63| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 155 |  614281|  912742|  -57|      206|    445.60|      1.00|     3.15| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 157 |  613286|  912952|  -73|      197|    168.90|      0.40|     3.56| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 158 |  613587|  912873|  -84|      180|     99.60|      2.50|     8.18| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    127.50|      0.40|    14.83| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    209.00|      1.15|    31.63| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    238.75|      3.05|    18.76| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    285.20|      1.80|    12.31| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    288.10|      1.00|     3.51| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 159 |  613788|  913252|  -45|      190|    190.55|      0.45|     3.57| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    197.65|      0.70|     4.47| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|       |        |        |     |         |    370.55|      0.55|     3.43| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 160 |  613932|  912868|  -48|      165|    308.80|      0.70|     3.33| 
|-------+--------+--------+-----+---------+----------+----------+---------| 
|MD 162 |  613641|  913127|  -55|      191|    156.90|      1.00|     3.23| 
+-------------------------------------------------------------------------+ 
 
Notes: 
(i)         All above assays accepted for incorporation into a 
resource estimation; 
(ii)        Grid coordinates based on the Philippine Reference System 
92; 
 
 
 
On-going drill programme 
From early July, drilling with eight surface rigs will continue  with 
three focussing on the main mine area, three on eastern extensions of 
the vein  system, and  two will  start drilling  other untested  vein 
systems adjacent to the mine area. 
 
 
Geoff Davis, Managing Director of Medusa, commented: 
 
"These results continue to confirm the world class nature of the Co-O 
Deposit.  At this stage they do not show any sign of weakening along 
strike to the east.   We will continue to aggressively explore along 
strike to increase the opportunities for expanding the mine 
infrastructure. In addition, we are now moving towards exploring 
other vein systems in the immediate vicinity of the Co-O Mine which, 
if successful, will also contribute to the possibility of 
diversifying our sources of ore". 
 
 
Information in this report relating  to Exploration 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".  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. 
 
=--END OF MESSAGE--- 
 
 
http://hugin.info/138050/R/1323888/310751.pdf 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.