EMED Mining's exploration in Eastern Europe is currently focussed on exploring for gold deposits in Central Slovakia in the Company's 100%-owned Detva and Stiavnica-Hodrusa Licences.

In October 2006, EMED Mining announced the discovery of the Biely Vrch gold deposit within the Detva Licence.

Drilling at Biely Vrch during 2007 and 2008 culminated in an initial JORC-standard Mineral Resource comprised of 17.7 million tonnes at 0.81g/t gold, containing 461,000 ounces in the indicated category and 24.0 million tonnes at 0.77g/t gold, containing 596,000 ounces in the inferred category.

Biely Vrch is being systematically progressed towards development following completion of a Scoping Study which provided strong evidence of the potential value that developing the deposit would create for all stakeholders.

The Biely Vrch deposit has been recognised as a porphyry gold system and this style of deposit typically occurs in clusters. Exploration continues to be progressed on many other porphry gold and copper-gold prospects within the Company's large, 100%-owned licences in Central Slovakia.

Detva Licence Area

The Detva licence area is located about 25 km to the east of the Stiavnica-Hodrusa district. The geology consists of a caldera-graben complex in the centre of a large stratovolcano. Widespread propylitic and localised advanced argillic alteration in the application area indicate substantial hydrothermal activity. This setting is analogous to of the Stiavnica-Hodrusa mineral field and is considered to be a classic geological setting for the formation of large porphyry and epithermal gold orebodies.

By the end of 2008, EMED Mining had completed a diamond drilling programme of 34 holes has been completed on a 100m by 100m grid pattern at the Biely Vrch porphyry gold deposit. Gold mineralisation is contained in a broadly pipe-shaped quartz-veinlet stockwork zone associated with an andesitic porphyry intrusion.

A number of drillholes are mineralised over their entire length from surface. Assay results have so far defined gold mineralisation in a vertical pipe-shaped structure to a depth of 300m below surface.

The Mineral Resource measures approximately 350m north-south and 300m east-west and extends from surface to a depth of 250m. Mineralisation within a vertical pipe-shaped structure continues below this depth. Initial metallurgical testwork of Biely Vrch drill core samples indicates the gold mineralisation is not metallurgically complex and recoveries can be expected to be consistent with analogous porphyry gold projects in other parts of the world.

The key parameters from the Biely Vrch Scoping Study are:

• Open-pit, heap-leach gold project with >10 year life;
• Overall gold recoveries of 81%; and
• ~60,000 ounces p.a. at cash cost = US$500 to US$600/ounce.

Behre Dolbear International reviewed the Biely Vrch Scoping Study in their NI 43-101 Technical Report on the Biely Vrch Gold Deposit (1.2MB pdf) dated 17 November 2010.

Porphyry gold deposits differ to the more common porphyry copper-gold deposits, and typically:

• are low-grade (0.7g/t to 1.8g/t gold), multi-million ounce deposits;
• are large (>100 million tonnes), bulk-mineable deposits;
• are metallurgically simple and gold is recoverable via conventional heap leaching;
• occur in clusters of several similar deposits; and
• contain very minor amounts of copper and molybdenum.

The recognition of Biely Vrch as a porphyry gold deposit has provided valuable insights which assist EMED Mining's plans for exploration of its Slovakian licences.

Stiavnica-Hodrusa Licence Area

The Company's granted licence covers a substantial portion of this world-class mineral district in Slovakia. Underground mines in this district have historically yielded an estimated total of 2.4 million ounces of gold, 120 million ounces of silver, 70,000 tonnes of zinc, 55,000 tonnes of lead and 8,000 tonnes of copper.

This historical production has been sourced from narrow, high-grade epithermal veins. EMED will be the first company to test systematically for large bulk-mineable, near-surface disseminated styles of mineralisation in this prolific district.

EMED Mining has recognised a variety of styles and the potential for porphyry, skarn and stockwork styles of gold mineralisation that have not been investigated by previous explorers. In addition, EMED has recognised areas of potential for high-sulphidation epithermal style of gold mineralisation. This style is commonly only weakly anomalous in gold at surface, but can host extensive high-grade gold deposits at depth.

Several skarn bodies occur in the northwest portion of the licence area. These skarns have been investigated for industrial magnetite, but have not been tested for gold.

Further Information

Details of EMED Mining's projects in Slovakia are available in the Ammended NI 43-101 Technical Report on the Biely Vrch Gold Deposit (1.2MB pdf) dated 17 November 2010.

The drilling rig owned by EMED Mining is now based in Slovakia and further information on the Company's drilling team is available by clicking here.

Information on the company in Slovakian is available at www.emed-slovakia.com.