Medusa Mining Limited (ASX and AIM - MML; TSX - MLL), through its Philippines operating company Philsaga Mining Corporation, advises that regional and detailed mapping which commenced in October 2010 has highlighted excellent potential for additional discoveries of breccia-hosted, epithermal veins and quartz stockwork gold mineralisation within a large intrusive-breccia complex mapped over an area measuring approximately 7 kilometres in length and 3 kilometres in width along a well defined northeasterly trending structural and alteration corridor. 

Drilling is continuing with six drilling rigs at the Bananghilig Deposit with the Company aiming to provide a drilling update during the September 2011 quarter.

Geoff Davis, Managing Director of Medusa, commented: “This on-going mapping has significantly enhanced the regional potential of the Tambis District. The outlining of a large intrusive-breccia complex with extensive alteration zones and containing the known diatreme breccia-hosted Bananghilig Deposit, milled breccia hosted mineralisation at Canugas as well as numerous mineralised epithermal veins and quartz stockworks, and the outcropping Sawahon Creek porphyry copper prospect and other copper prospects, all auger well for defining new deposits. We see strong similarities with the Wafi Golpu Project in PNG with respect to the regional setting, rock types, mineralisation styles and potential. A comparative interpreted cross-section to the Figure 4 contained in this report is shown on page 10 of the presentation of the Harmony- Morobe Mining Joint Venture Analyst Tour dated March 2011. In addition there are many similarities to the richly mineralised Baguio District north of Manila which has produced approximately 28 million ounces of gold and 2.8 million tonnes of copper.”

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