Shareholder Update
Progress Update on the LDM/NUOCO Mining Projects
April 20, 2014
Management of Medinah Minerals, Inc., is pleased to provide the following update received from the LDM/NUOCO managers from Santiago, Chile. The progress of the mining work at the LDM/NUOCO projects has opened up new discoveries which may have significant impact on our understanding of the potential scope of mineralization over the entire Altos de Lipangue claims area.
During the LDM tunnel and exploration work undertaken by the private partners, a significant discovery of copper was made. This copper formation appears to be extensive and competent and is currently being mined for production by the NUOCO crews. The first rounds that blasted into the formation indicated a consistent and strongly mineralized structure. This appears to be porphyritic in origin, associated with the Altos de Lipangue breccia pipes, except that this is not a breccia, but rather a strong and consistent copper rich zone associated with a porphyry intrusive containing malachite, chalcocite, bornite and chalcopyrite. Indications are that the porphyry ore body, with all probability, is very much at a mine-able depth, which should present very large tonnage for capture.
The LDM project designed to intercept the high grade gold zone has succeeded with the addition of another surprising and potentially game changing discovery. The gold that has been encountered appears to be associated with yet another porphyry intrusive separate from the known copper rich porphyry in the Altos de Lipangue breccia area. This contact has revealed a gold rich porphyry/brecciated zone mixed with quartz. We have received initial assays from the 66.5 meter shaft level, approximately 3.5 meters above the high-grade target zone, which contained 6.6 grams of gold per tonne. A second assay taken at the 67 meter level revealed 9.8 grams of gold per tonne. This confirms the assays, at a similar depth, that coincides with the assays received from the DDH-002 drill core samples. We now expect that assays from the downward target zone will confirm assays from the 70 meter section of the drill core.
Medinah Mining Chile and Medinah Minerals, Inc., have agreed to undertake the expense and evaluation of a Professional Geological Assessment related to both of these discoveries. The LDM/NUOCO partners have accomplished excellent discovery work. Now, it is very essential that Medinah Mining Chile clearly determines the implications of these discoveries to better understand the economic scope of the Altos de Lipangue properties.
Medinah Minerals, Inc.’s management team has previously disclosed much of the above mentioned information on Medinah’s website. However, after further discussions regarding the potential implications of this new information, and having reached a plan to request a Professional Geological Assessment, Medinah’s management team has determined this additional information and findings to be potentially material to prospective financial well being and potential profitability of the company.
Accordingly, we share this exciting information with our shareholders.
Juan José Quijano Fernández
President, Chairman
Medinah Minerals, Inc.
