Ann: Annual 2020 Mineral Resources and Reserves Update, page-6

Gold Price as per market index - $1717 (US/Oz) as at 3,20 pm 7/4/2020 ie today. Up 22.90.

Resources reported as at 31 December 2019 were restrained by gold price cut off at $1500 (US / oz) and accessability. Medusa is a narrow vein gold miner.

The following issues are relevant in the context of todays current share price and market valuation of 99.74M (Aus).

Total Shareholders equity as at 31st December 2019 was $147.210M US - the exchange rate at 31 December was $0.7006 giving us a Total Shareholders Equity of $210.12M in Australian dollars (as per statutory accounts).

The exchange rate as of now is $0.6035. Before this quarters results that would place Medusa's market valuation at $243M (Aus).today. Then add this quarters results as we are already past the 31 March.

DYOR