Medinah Minerals, Inc. (MDMN: OTC Link) | Shareholder Update

Shareholder Update – January 30, 2012

Jan 30, 2012

OTC Disclosure News Service

Las Vegas, NV –

SHAREHOLDER UPDATE

January 30, 2012

 

 

Dear Shareholders:

 

Management of Compañia Minera LDM Chile are pleased to announce that a Contract Agreement for the underground mining program at the Las dos Marias property in the Altos de Lipangue group of claims has been signed, along with all auxiliary legalization documents.  The Contract is for the drifting of a tunnel and sinking of a shaft into the high-grade gold zones identified at Las dos Marias in previous drill programs. The tunnel, or drift, is expected to encounter ore-grade material quickly into the penetration of the mountain.  The Drill intersect of the “glory-hole” type ore is a few hundred meters into the mountain on a horizontal plane parallel to the tunneling, and the veining structure of this deposit is expected to be intersected prior to the drill hole location.  Las dos Marias is a skarn-type deposit with stock works of gold, copper and silver, including 500 meters of pre-existing tunnels.  Geophysics and drilling confirm a diverse and rich stratum of gold with values up to 122 grams of gold/tonne, 2.5%/tonne copper and 35 grams/tonne silver.

 

The high-grade ore will be trucked in 10-tonne batches to the bottom of the property for loading and delivery on highway haulers to the Government-operated Enami refinery in Chile.  Enami quickly remits payment of the high-grade ore shipments.  Las dos Marias’ contractor will take batch-control assays regularly to confirm values and act as a control.

Work is scheduled to commence at Las dos Marias this week.

 

 

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.

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.

Article source: http://www.otcmarkets.com/stock/MDMN/news?id=41897

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