The Board of Directors is pleased to announce the purchase of Medinah Mineral, Inc.’s (“MDMN”) 20% (or 200 shares of a total 1000 shares) of the Chilean Company, “Sociedad Contractual Minera American Medinah Gold” (“AMG”). American Sierra Gold Corporation (“AMNP”) will issue 20 million shares of its common stock to MDMN in exchange for its 20% interest. AMG owns the entire JOTA properties, comprising of 3,150 hectares of placer claims and 3,200 hectares of hard rock claims, for a total acreage of 6,350 hectares. Through its amalgamation with Medinah Gold (who owns 10% of AMG), American Sierra Gold Corporation (“AMNP”) now owns 30% (or 300 shares of a total 1,000 shares) of AMG, and thus 30% of the JOTA properties. With a total of 300 shares, AMNP is now the largest shareholder in AMG.
The JOTA properties have been the subject of a prior comprehensive Chilean Government study that included the drilling of numerous test holes. This study indicated that substantial gold materials exist on the property.
Gary P. Goodin
President/Chief Executive Officer
American Sierra Gold Corporation
Cautionary Statement – Forward-Looking Information
This news release may contain certain “forward-looking statements” within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.