Medusa Mining Limited: Director's Shareholding

TORONTO, ONTARIO -- (Marketwire - Nov. 14, 2011) - Medusa Mining Limited ("Medusa" or the "Company") (ASX: MML) (LSE: MML), was informed today that Geoffrey Davis, Chairman, had sold 1,000,000 ordinary shares of no par value in the Company at an average price of A$6.72 on 10 November 2011.

The proceeds from the sale will be used for the payment of personal income tax and to provide funds for charitable undertakings and medical research.

Following the sale of Medusa shares as described above, Mr Davis' total beneficial ownership in the Company is 4,052,750 ordinary shares of no par value, representing approximately 2.15% of the issued share capital of the Company.

In accordance with ASX Listing Rule 3.19A.2, please find attached completed Appendix 3Y (Change of Director's Interest Notice) for Geoffrey Davis.
Appendix 3Y
Change of Director's Interest Notice
Rule 3.19A.2
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/9/2001.
Name of entity Medusa Mining Limited
ABN 60 099 377 849

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
Name of Director Geoffrey John Davis
Date of last notice 4 June 2010

Part 1 – Change of Director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust.

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
Direct or indirect interest Direct
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant interest. -


Date of change 10 November 2011
No. of securities held prior to change 5,052,750
Class ordinary shares
Number acquired -
Number disposed 1,000,000
Value/Consideration
Note: If consideration is non-cash, provide details and
estimated valuation A$6,701,520

No. of securities held after change 4,052,750
Nature of change
Example: on-market trade, off-market trade, exercise of
options, issue of securities under dividend reinvestment plan, participation in buy-back On market trade

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
Detail of contract -
Nature of interest -
Name of registered holder -
(if issued securities)
Date of change -
No. and class of securities to which interest -
related prior to change
Note: Details are only required for a contract in relation to
which the interest has changed
Interest acquired -
Interest disposed -
Value/Consideration -
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change -

Part 3 – +Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? No
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?
+ See chapter 19 for defined terms.
11/3/2002

ABN: 60 099 377 849


Contact Information

Australia
Medusa Mining Limited
Peter Hepburn-Brown, Managing Director
+61 8 9367 0601
admin@medusamining.com.au
www.medusamining.com.au

United Kingdom
Fairfax I.S. PLC
Financial Adviser and Broker
Ewan Leggat/Laura Littley
+44 (0)20 7598 5368