Shareholder Update – January 20, 2012
Jan 20, 2012
OTC Disclosure News Service
Las Vegas, NV –
January 20, 2012
Dear Medinah Shareholders:
Señor Juan José Quijano Fernandez, representing the “Lipangue Holders,” has notified Medinah Minerals, Inc. (USA) that a Purchase Agreement has been received and accepted for the Altos de Lipangue group of claims located near Santiago, Chile.
As previously reported, several offers of possible purchase and/or joint venture of the Altos de Lipangue claims were being analyzed and reviewed. All of the offers reflected the end price, terms and conditions requested by the “Lipangue Holders”. Each party recognized the value of the Altos de Lipangue properties and the sizeable potential that exists in terms of ore deposits. This is potentially a major size project that could not be examined without serious commitments of time and resources. Of the three offers that were still being considered by Medinah Minerals (Chile) S.A.; two were in the form of a Memorandums of Understanding, and the other, a formally documented Offer of Purchase.
Señor Quijano has actively negotiated each of the monetary terms, time frames and contract conditions with the Principals’ attorneys and Company representatives. Señor Quijano, representing the “Lipangue Holders,” has made a final decision, accepting and executing a Purchase Contract of the Altos de Lipangue group of claims. The “Lipangue Holders” consist primarily of the Quijano family and Medinah Minerals (Chile) S.A., of which Medinah Minerals, Inc. (USA) holds a 50% interest. The purchaser group is working together with Señor Quijano for presentation of final documents to the office of the Notario and other required Government agencies.
Medinah Minerals, Inc. (USA) Management will convey to shareholders the specific terms and conditions of the Purchase Agreement upon release from the Non-Disclosure Agreements.
On behalf of the Board of Directors
Señor Juan José Quijano Fernández
President/CEO/Chairman of the Board
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.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.