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

Shareholder Update – May 15, 2012

May 15, 2012

OTC Disclosure News Service

Las Vegas, NV –

SHAREHOLDER UPDATE

May 15, 2012

 

Dear Shareholders:

Management of Medinah Minerals, Inc. reports that an update from Compañia Minera LDM Chile has been received and reported as follows.

During mining operations at the Las dos Marias project designed to drift an adit (tunnel) into the mountain to intersect and mine the two high-grade gold drill intersections previously reported, a highly mineralized 2-meter wide zone was encountered at the entrance point for the new adit.  The Company Geologist first assumed that because this structure was contained in a shear zone on strike with the target vein, it may indeed be the target vein.  Further exploration and development work on this mineralized zone has now identified it as a new and separate structure and ore body.

The mining crew was instructed to continue developing the new tunnel southward towards the high-grade gold drill targets while the Geologist designed a program for the excavator operator to investigate this new shear zone discovery.  The excavator began to construct an open-pit area immediately northward from the adit entrance. The operator began following the zone north away from the tunnel entrance and as he continued out and down into the formation, the structure began to widen and extend to depth.  At the time of writing, the excavator operator has created an open-pit mine 40 meters long averaging 6 meters deep and the ore material has been stockpiled for shipment to the refinery.  The Company Geologist reports that this ore body has now been identified as a well mineralized skarn that is open to the north and south and at depth.  The skarn deposit appears to be widening at depth.  Work on this open pit has temporarily been halted until the stockpiled ore can be shipped off the property.  Stockpiling additional ore at this time may impede the tunnel crew who require a clear dumping and ore storage area in order to carry on tunneling in the shear zone to the target vein.  Samples have been taken from the shear zone (skarn) area and of all open pit mine stockpiles. These samples represent grade controls and estimate expected returns from the refining of the ore.  Assays of all ore material are still pending due to the backlogs at the labs.  The Company Geologist reports that from visual observations, all of the stockpiled material will likely exceed the minimum grade of 5 grams per tonne gold and/or gold equivalent required by the Enami refinery.

The Company Geologist has additionally been conducting a detailed exploration along the strike length of this skarn zone, referencing his findings with the information determined from the drill holes DD99-01 and DD99-02 tracking and the strike length of the skarn/shear zone.  At a point 510 meters south of DD99-01, he made a new and significant discovery.  The Company Geologist has uncovered a new mineralized breccia zone.  We do not know the extent of this mineralized breccia but it falls within the assumptions and observations of Robert Cinits, A.C.A. Howe International Limited in their conclusions based on observations and expectations that surface expressions of several additional breccias exist in the Altos de Lipangue area.  The Company Geologist is now investigating to determine the extent of this new discovery and to establish a preliminary assumption of grade and metals content.  This new mineralized breccia is contained within the Las dos Marias claim block.  The Company Geologist has instructed the machine operator to move the excavator to this new area to begin trenching and sampling the breccia zone.  This program will assist in determining the extent of the mineralized zone and will produce a preliminary assessment of the mineralogy and provide assay materials to investigate metals content.

In summary, the mining crews are now well along the way to DD99-01 and DD 99-02 and expect to intercept the first high-grade gold vein shortly.  They will then follow the vein system and mine out any and all gold bearing material.  A new ore deposit has been discovered in an identified skarn formation which closely follows the strike of the shear zone where the high-grade gold target is being pursued.  An open-pit mining operation has now begun on this skarn zone and an area 40 meters long by 6 meters deep has been opened up, mined and ore stockpiled for shipping to the refinery. 


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=47590

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