Medinah Minerals (Chile) S.A. reported that on July 10 and 11, 2012, the terms of the Purchase Agreement were concluded between Medinah Minerals (Chile) S.A. and Amarant Mining Ltd. Amarant Mining Ltd. and their associates subsequently announced that they have purchased an 85% interest in the Altos de Lipangue project from Medinah Minerals (Chile) S.A and associates, for a final sale price of
USD $180,000,000.

There are several closing conditions to be completed, including the requirement that Amarant Mining Ltd. provide a security deposit of $54,000,000 against the contract. This deposit was agreed to be in the form of shares owned by Amarant Mining Ltd. in their associated mining company, Alluvia Mining Limited. A total of 90,000,000 shares of Alluvia Mining Limited have now been remitted to the Vendors. Medinah Minerals (Chile) S.A. has exercised its option to sell 10% ($5,400,000) of its holdings of these shares back to Amarant Mining Ltd. and its associates.

Amarant Mining Ltd. is proceeding on schedule with the remainder of the terms and conditions of the agreement. Amarant Mining Ltd. anticipates an early startup to drilling on the Altos di Lipangue property as the funding is now committed.

Señor Juan José Quijano Fernández

President/CEO

Note: This News Release may contain certain “forward-looking statements” within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Minerals, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed under the heading “Risk Factors” and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.