Exercise of Options and Issue of Equity

 
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:  618-9367 0602 
    Email:  [e-mail] 
   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. 
 
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 
 
Lothbury Financial                      [phone] 
Michael Padley / Libby Moss 
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.