A REVIEW OF THE RESULTS OF INDUCED POLARIZATION SURVEYS
ON THE LIPANGUE BRECCIA PROPERTY METROPOLITAN REGION CHILE
FOR MEDINAH MINERALS, INC.

BY

PETER E. WALCOTT & ASSOCIATES LIMITED
VANCOUVER, B.C. CANADA

See attached. This report is not found on Medinah's website.


"CONCLUSION AND RECOMMENDATIONS

On reviewing this data it is readily apparent that the survey coverage was too limited to
properly cover the large indicated mineral system. The indicated anomalous conditions
on most lines were not fully delineated.

The 200-metre dipole was too large to refine drill targets in this environment with the
undersampling resulting in the amalgamation of anomalous zones. In hindsight a stepup
to a 150-metre dipole would have been better in the writer’s opinion.

Nonetheless the surveys and subsequent inversion modelling appeared to successfully
locate the breccia pipe and its alteration halo on L 800E and 900E respectively, although
the surveys suggested the mineralization to be more widespread than reported in the
drill holes.

The pipe and accompanying sulphide mineralization appear to extend to the west as
indicated by the similarity of response on L’s 700E and 850S, underneath the overlying
andesites.

The writer does not believe magnetite in the andesites, as noted in outcroppings, to be
the sole causative source of the above-mentioned anomalous response or for that
matter that of L0. If such were the case he would expect to see a stronger response on
the shallower separations. As mentioned previously the strong anomaly at the northern
end of L1100E is probably related to sulphide mineralization in the underlying
granodiorites, evidence of which is suggested by the quartz vein system – Veta
Espanola.

As a result the writer recommends that during the next phase of drilling, in addition to
further delineating the pipe as outlined by previous drilling, that the following also be
investigated.

1. the possible extension of the pipe to be west at 850S on L700E.
2. the strong phase response on L0 at 300S.
3. the strong phase response on L1100E at 300S.

He also suggests that physical property measurements be made on samples of the core
and on hand samples in an effort to gain more understanding of the phase and magnetic
response of the rocks."