SHAREHOLDER UPDATE
July 21,2011
DearShareholders:
The old "PinkSheets" Company has changed their name to OTC Markets. Medinah Minerals, Inc. (MDMN) quotes are on OTC Markets' website located at www.otcmarkets.com. Medinah Minerals, Inc. quotes are also available from a multitude of other sites or from your own broker. Medinah Minerals, Inc. (USA) is a free-trading stock and shareholders may buy, sell, or hold their shares at their own discretion. The Company does not promote or utilize any service to feature the stock. For the information of our shareholders, we have posted the OTC Markets report for the week ending July 15, 2011. This report shows Medinah’s weekly and quarterly data as well as a current list of active Market Makers.
The POLO claims are located approximately 900 kilometers south of Santiago, Chile. Medinah Minerals, Inc. (USA) owns a 15%carried interest in the project, but is not an active participant in the ongoing negotiations involving the parties; Señor Juan José Quijano Fernández and International Copper Company Chile (ILCC). The ILCC lawyers are now documenting a contract pursuant to the terms as posted on the Medinah Minerals, Inc. website dated April 15, 2011. On September 17, 2009, we posted one of the official Chilean Mining "Certificado's" showing Medinah Minerals,Inc. (USA)’s ownership interest in the POLO claims.
Documentation and verification of claims, etc., have been presented to interested parties to try and bring forward "Letters of Intent" on the Poniente, Oriente, andSur properties that are in proximity to the Alto de Lipangue location. These proposed LOI’s, if completed, willconsist of small cash down payments and semi-annual payments over a 3-year term, with the end price to be determined at the conclusion of an intensive exploration program. Medinah Minerals,(Chile) S.A. retains the predominant ownership interest in each of these property holdings. Medinah Minerals,Inc. (USA) will receive an, as yet, unspecified carried percentage interest in each of these holdings, when completed.
The Joint Venture Agreement, which Medinah Minerals (Chile) S.A. agreed to extend, has frustrated all our loyal shareholders who are anxiously awaiting the Joint Venture completion news. The release of the initial funds has been in limbo for months as the JVA partners and their legal representatives continue to strive for final funding completion. They state that the magnitude and complexities of the Agreement has necessitated short-term review, augmentation, and documentation. The JVA partners indicate that all matters are in order and funding resolution will be forthcoming soon. Medinah Minerals, Inc. (USA) is in “no jeopardy” of being negotiated out of the Joint Venture Agreement. The final changes and provisions of the Joint Venture Agreement include a large initial investment by the JVA partners to earn a minority position in the identified Alto de Lipangue claims. From the initial funding, a substantial amount will be dedicated to an aggressive exploration and development program that is intended to lead to full production. The balance of the JVA funding is allocated for the combined shareholders of Medinah Minerals (Chile) S.A and Medinah Minerals Inc. (USA). Different from most Joint Venture Agreements the Medinah Minerals (Chile) S.A. Joint Venture, in which Medinah Minerals,Inc. (USA) retains a 50% ownership holding, will retain a superior equity position as well as directional exploration and developmental control of the entire project.
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 o 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.
Medinah Minerals, Inc. (USA) wishes to advise that this is our official Web Site. Medinah Minerals,Inc. (USA) is not responsible for the PUBLICATION of any Company information presented on any other site.