Co-O Vein System Extenstions Continue

    Co-O Vein System Extenstions Continue
             



7 April 2008

                        MEDUSA MINING LIMITED
                             (AIM: MML)

                Co-O VEIN SYSTEM EXTENSIONS CONTINUE

Medusa Mining Limited ("Medusa" or the "Company"), the Australian
based company operating and developing gold mines in the Philippines,
advises that on-going diamond drilling at the Co-O Gold Mine
continues to extend the vein system.  The Company has now drilled
approximately 1,000 metres along strike and approximately 200 metres
across strike.

New significant intersections include:


Hole Number   Intercepts      Grade
                (metres) (g/t gold)
MD 55               3.45      12.48
MD 57               0.45      39.65
MD 61              14.60       5.29
                    1.45      12.64
MD 65               0.65      25.42


West Catto Vein 1 has now been extended along strike to the west for
approximately 300 metres from the Oriental Fault and is still open to
the west.

The drill programme is continuing with four surface rigs and two
underground rigs.

Please see the link at the end of this announcement for Figure 1,
which shows the location of the Co-O Mine, Figure 2, which shows all
the diamond drill holes holes drilled and in progress around the Co-O
Mine since December 2006 and Figure 3, which shows the updated three
dimensional model of the vein system including the newly discovered
Catto West Veins.  Figure 4 shows the Co-O Mine composite level plan
for the 3050 metre level (100 metres below adit level).

Geoff Davis, Managing Director commented:

"The drill programme has further extended the vein system to the
west.  We are confident the ongoing programme will continue to
provide excellent results that vindicate our decision to reduce
short-term production levels whilst we expand the production capacity
of the mine to match the size of what is proving to be a very
extensive mineralised system."


For further information, please contact:


Medusa Mining Limited                   [phone]
Geoffrey Davis, Managing Director
Roy Daniel, Finance Director

Fairfax I.S. PLC                        [phone]
Nominated Adviser / Joint Broker
Ewan Leggat

Mirabaud Securities Limited             [phone]
Joint Broker
Peter Krens

Bankside Consultants                    [phone]
Michael Padley / Louise Davis

Results and Drilling Programme

Since the last drilling update on 24 January 2008 a total of 11 new
surface holes have been completed.  Drilling is continuing with four
surface drilling rigs and two underground rigs.

Table I lists the diamond drilling results greater than 3 g/t gold
from the Co-O Mine for drill holes MD 46 to MD 68 and for underground
drill hole DBH 03.  Previous announcements on the Co-O drilling on 9
July, 15 May and 28 February 2007 contain information regarding
drilling and surveying techniques, comments on vein interpretation
and methodologies and assaying protocols.


Table I. Drill hole results > 3 g/t gold for holes MD 46 to 69.
(Results and completed holes since 24 January 2008 marked with *)


                                                                Grade
                                                              (uncut)
                                Dip Azimuth     From    Width    (g/t
Hole              East   North  (°)     (°) (metres) (metres)   gold)
EAST
MD 46          614,047 912,472  -48      41   489.30     0.85    8.51
                                              501.40     0.40    4.50
                                              542.90     1.40   20.62
MD 48
(Agsao Shaft   614,257 912,704  -60     253   212.45     1.95   22.02
pilot hole)
MD 49          614,129 912,487  -50      40   449.85     2.05    6.61
                                              463.90     1.00    4.24

MD 55*         614,134 912,495  -45      35   361.60     3.45   12.48
                                              421.20     0.70   12.23
                                              486.25     0.70    3.89
MD 64*         614,175 912,505  -45      41   405.80     1.00    3.19
MD 67*         614,173 912,504  -52      43   278.00     0.80    7.20
                                              398.30     1.30    6.55
WEST
MD 47          613,805 912,788  -55      30   153.30     1.80    4.70
MD 51          613,749 912,798  -53      17   130.50     1.30    6.50
                                              155.75     0.25   41.06
MD 52          613,754 912,816  -50      14    75.25     0.55    3.53
                                              157.60     0.30    5.31
                                              170.40     0.30   14.93
MD 54          613,830 912,745  -47      29   174.00     1.80   14.59
MD 56          613,809 912,706  -54      29   390.85     1.00    3.11
MD 57          613,739 912,767  -54      16  152.55*    0.45*  39.64*
                                              191.90     3.45   26.26
MD 58          613,739 912,767  -58      16   176.10     0.40   43.46
                                              207.00     0.70    7.45
                                              280.40     0.90    6.18
MD 61*         613,662 912,804  -47     347   249.10    14.60    5.29
                                              308.20     1.45   12.64
MD 62*         613,723 912,767  -56       2   184.65     2.10    9.07
MD 65*                                        115.60     0.65   25.42
                                              153.05     2.75    8.80
DBH 03         613,918 912,909 -0.2     236    29.05     1.05    6.58
                                               57.30     1.90    9.60
                                               72.20     0.40   17.21


Notes:
(i)(*) denotes new results;
(ii)Independent laboratory McPhar assays are quoted in preference to
Philsaga assays;
(iii)Grid coordinates based on the Philippine Reference System 92;
(iv)Intersection lower cut-off grade is 3 g/t gold in line with
current resource estimation parameters;
(v)Some previously reported intersection widths and grades may have
changed as a result of check assaying by McPhar.

During on-vein development  along the  West Catto Veins  at the  3050
metre level, a  number of splits  in the West  Catto Veins are  being
delineated,  including  the  discovery  of  a  vein  that  shows  dip
variations from sub-vertical to 30º to the north and swings in strike
directions.  This  vein's variable  dip and  strike requires  further
development work to determine its geometry,  as well as for the  main
Catto West veins.  The wide intercept in MD 61 (14.60 metres at  5.29
g/t gold) may  be another  example of yet  to be  understood dip  and
strike variations not previously seen in the mine.

Drilling at the eastern end of the vein system near the Agsao River
shows that faulting intensity appears to increase in this area.
 Drilling is underway on the east side of the Agsao River to assist
with vein interpretation around the Agsao River zone.


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.

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