Updated Investor Presentation

 
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] <mailto:[e-mail]> 
       Internet:  www.medusamining.com.au <http://www.medusamining.com.au/> 
 
 
                                                                    ANNOUNCEMENT 
 
                                                                    1 March 2010 
 
INVESTOR PRESENTATION 
 
Medusa  Mining Limited(ASX  & AIM:  MML; TSX:  MLL) ("Medusa" or the "Company"), 
announces  the update of its Investor  presentation at BMO Capital Markets 2010 
Global  Metals  and  Mining  Conference,  Miami  USA (28 February - 3 March) ASX 
Australian  Small to  Mid Cap  Conference, New  York USA  (03 March - 04 March). 
 Please see the link at the end of this announcement. 
 
Please  find  below  Competent  Persons'  Consents  in  relation to resource and 
reserve information which appears therein. 
 
Competent Persons' Consents 
Information   in   this  report  relating  toExploration  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"  and is a "Qualified  Person" as defined in 
"National  Instrument  43-101" of  the  Canadian  Securities Administrators.  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. 
 
Information  in this report relating toMineral  Resources has been estimated and 
compiled  by Mark Zammit of Cube Consulting Pty Ltd of Perth, Western Australia. 
Mr  Zammit is a member of The  Australasian Institute of Mining & Metallurgy and 
has  sufficient experience that  is relevant to  the style of mineralisation and 
type  of deposit 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"  and  is  a  "Qualified  Person"  as  defined  in "National Instrument 
43-101" of  the Canadian  Securities Administrators.  Mr Zammit  consents to the 
inclusion  in the report of the matters based on his information in the form and 
context in which it appears. 
 
Refer    to    the    Technical   Report   which   was   filed   onwww.sedar.com 
<http://www.sedar.com/>  in  November  2009 for  further  discussion of the Co-O 
Deposit's   geology,   structural  controls,  drilling,  sampling  and  assaying 
information,  and any  known material  environmental, permitting,  legal, title, 
taxation, socio-political, marketing or other relevant issue. 
 
ABOUT MEDUSA MINING LIMITED 
Medusa Mining Limited("Medusa" or the "Company"), a public company listed on the 
ASX,  AIM and the TSX, is an  Australian based gold producer, focussed solely on 
the Philippines. 
 
With  current mineral resources comprising  Indicated 580,000 ounces of gold and 
Inferred  1,310,000 ounces of gold,  Medusa's corporate strategy  is to become a 
mid tier 300,000 to 400,000 ounce per year, low cost gold producer. 
 
The   Company   is  currently expanding  its high  grade  Co-O  Mine  operations 
(Indicated  Resources 580,000 ounces of gold inclusive  of a Probable Reserve of 
500,000 ounces  of  gold,  and  Inferred  Resources  660,000 ounces  of gold) to 
increase  its forecast  production to  100,000 ounces per  year in  2010, and is 
conducting   near  mine  exploration to  assess  the  possibilities  of  further 
expansion  to 200,000 ounces per year.  Current cash  costs at the Co-O Mine are 
approximately US$190 per ounce. 
 
A  pipe-line of deposits  is now being  established with the Bananghilig Deposit 
(Inferred  Resource  of  650,000 ounces  of  gold)  recently  added and which is 
expected to expand, potentially in conjunction with nearby discoveries. 
 
Further  potential upside exists in the discovery of substantial copper deposits 
within the tenement holding of > 800km2. 
 
For further information please contact: 
 
  Australia 
 
  Medusa Mining Limited                      [phone] 
 
  Geoffrey Davis, Managing Director 
 
  Roy Daniel, Finance Director 
 
  United Kingdom 
 
  Fairfax I.S. PLC                           [phone] 
 
  Nominated Adviser and Broker 
 
  Ewan Leggat/Laura Littley 
 
  Lothbury Financial                         [phone] 
 
  Michael Padley/Libby Moss 
 
  Canada 
 
  Nicholas Sayce, Investor Relations         [phone] 
 
 
 
DISCLAIMER 
This  announcement  may  contain  certain  forward-looking statements. The words 
'anticipate',  'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 
'intend',   'should',   'could',  'may',  'target',  'plan'  and  other  similar 
expressions are intended to identify forward-looking statements. Indications of, 
and guidance on, future earnings and financial position and performance are also 
forward-looking statements. 
 
Such  forward-looking statements  are not  guarantees of  future performance and 
involve  known and unknown risks, uncertainties and other factors, many of which 
are  beyond  the  control  of  Medusa,  and  its officers, employees, agents and 
associates,  that  may  cause  actual  results  to  differ materially from those 
expressed or implied in such statements. 
 
Actual   results,  performance  or  outcomes  may  differ  materially  from  any 
projections  and forward-looking statements  and the assumptions  on which those 
assumptions are based. 
 
You  should not place  undue reliance on  forward-looking statements and neither 
Medusa  nor  any  of  its  directors,  employees,  servants or agents assume any 
obligation to update such information. 
 
 
[HUG#1389268] 
 
 
 
 
 
    Updated Investor Presentation: http://hugin.info/138050/R/1389268/347458.pdf