Director Shareholding

24 September 2008 MEDUSA MINING LIMITED (AIM: MML) DIRECTOR'S SHAREHOLDING/EXERCISE OF OPTIONS Application has been made for the admission to trading on AIM of 500,000 ordinary shares of no par value of the Company with admission expected to take place on 29 September 2008. The shares have been issued following the exercise today of options by Kevin Tomlinson, Non-executive Chairman at A$0.90 per share. Following the exercise of these options Mr Tomlinson has an interest in 782,950 shares of the company which is equal to 0.54% of the issued share capital of the Company. Following the issue of these shares, Medusa will have a total of 145,807,548 ordinary shares with voting rights in issue. For further information, please contact: Medusa Mining Limited +61 8 9367 0601 Geoffrey Davis, Managing Director Roy Daniel, Finance Director Fairfax I.S. PLC +44 (0)20 7598 5368 Nominated Adviser/Joint Broker Ewan Leggat Mirabaud Securities Limited +44 (0)20 7321 2508 Joint Broker Peter Krens Lothbury Financial +44 (0)20 7011 9411 Michael Padley/Louise Davis ---END OF MESSAGE---