Medusa Mining Limited: Co-O Mine Mineral Reserve Estimate

Medusa Mining Limited (TSX:MLL,ASX:MML), through its Philippines operating company Philsaga Mining Corporation, announces a newly completed JORC and NI 43-101 compliant Ore Reserve estimation for the Co-O Mine.

The press release is quoted as saying:

The Probable Reserve, as at 21 June 2010, now stands at 505,000 ounces contained in 1,465,000 tonnes at 10.7 g/t gold. Conversion of resources this year has maintained the Probable Reserve contained ounces at a slightly higher level compared to that announced in July 2009 of 500,000 ounces at 14.9 g/t gold in 1,041,000 tonnes. The current Probable Reserve will allow an approximate 5 year mine life at a production rate of 100,000 ounces per year.

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