Shareholder Update NEWS RELEASE Progress U
Post# of 689
Shareholder Update
NEWS RELEASE
Progress Update on the Altos de Lipangue Project
April 25, 2014
We are pleased to announce that we have received a firm written offer from a group of well-known and highly qualified Peruvian mining experts to immediately commence development of the entire Altos de Lipangue properties. Medinah has until June 9, 2014 to accept or reject the terms of this agreement.
Additionally, there has been accelerated interest in the Altos de Lipangue project with major and mid-tier mining companies actively expanding their knowledge of the property, predominantly in light of recent discoveries at the LDM/NUOCO mining projects. These companies have requested and received signed confidentiality documents and agreements that are on file. Therefore, Medinah Mining Chile has allowed each of their crews access into the field and visitation to the location of the stored core samples.
Medinah Mining Chile’s Board of Directors, after previous failed attempts, came to the conclusion last July 2013, to hire a professional team of consultants in order to review issues and assist in presenting an industry-standard mining option Joint Venture Agreement (JVA), or any other acceptable form of association.
After full diagnostic review, the consultants determined that the main concern to address in order to secure an industry standard mining option was that Medinah Minerals, Inc. must take immediate steps to consolidate all of its mining claims under one entity. Over several months, all necessary acquisitions, full title reviews, cessation of encumbrance endeavors and notarizations, the tasks were completed and negotiations began with various mining conglomerates. A company agent was enlisted to be the main representative negotiator for the Altos de Lipangue (ADL) project.
Management was later advised, by the representative agent, that several complex legal issues were impeding potential transactions and also needed to be resolved. These matters were handled and formally notarized for presentation and ultimate approval by the Chilean Ministry of Mines in December 2013. In January 2014, Medinah Mining Chile was noticed that it had clear ownership of the entire Altos de Lipangue group of properties. Medinah Minerals, Inc. then legally acquired 100% ownership of all of the shares of Medinah Mining Chile.
Over several months, various mining companies have sent representatives consisting of geologists, mining engineers and management teams to view the ADL. Documents and historical issues were provided, as requested, to each of these entities. Further verifications of core samples have been undertaken by several potential partners. Each of the groups also visited the privately-held LDM and NUOCO properties.
Medinah Mining Chile will thoroughly investigate every offer presented by the team of consultants in order to capitalize on increasing the value of the Altos plateau properties. These offers are being reviewed by Management and the Directors of Medinah Mining Chile, and Medinah Minerals, Inc.
Juan José Quijano Fernández
Chairman/President
Medinah Minerals, Inc.