Medinah Minerals Announces a Signed Offer Agreement on the Altos de Lipangue Project
26 4월 2014 - 1:35AM
Business Wire
Medinah Minerals (Pink Sheets: MDMN) today
issued the following shareholder update concerning mining
developments at the Altos de Lipangue mining project.
Progress Update on the Altos de Lipangue
ProjectApril 25, 2014
We are pleased to announce that we have received a firm written
offer from a group of well-known and highly qualified Peruvian
mining experts to immediately commence development of the entire
Altos de Lipangue properties. Medinah has until June 9, 2014 to
accept or reject the terms of this agreement.
Additionally, there has been accelerated interest in the Altos
de Lipangue project with major and mid-tier mining companies
actively expanding their knowledge of the property, predominantly
in light of recent discoveries at the LDM/NUOCO mining projects.
These companies have requested and received signed confidentiality
documents and agreements that are on file. Therefore, Medinah
Mining Chile has allowed each of their crews access into the field
and visitation to the location of the stored core samples.
Medinah Mining Chile’s Board of Directors, after previous failed
attempts, came to the conclusion last July 2013, to hire a
professional team of consultants in order to review issues and
assist in presenting an industry-standard mining option Joint
Venture Agreement (JVA), or any other acceptable form of
association.
After full diagnostic review, the consultants determined that
the main concern to address in order to secure an industry standard
mining option was that Medinah Minerals, Inc. must take immediate
steps to consolidate all of its mining claims under one entity.
Over several months, all necessary acquisitions, full title
reviews, cessation of encumbrance endeavors and notarizations, the
tasks were completed and negotiations began with various mining
conglomerates. A company agent was enlisted to be the main
representative negotiator for the Altos de Lipangue (ADL)
project.
Management was later advised, by the representative agent, that
several complex legal issues were impeding potential transactions
and also needed to be resolved. These matters were handled and
formally notarized for presentation and ultimate approval by the
Chilean Ministry of Mines in December 2013. In January 2014,
Medinah Mining Chile was noticed that it had clear ownership of the
entire Altos de Lipangue group of properties. Medinah Minerals,
Inc. then legally acquired 100% ownership of all of the shares of
Medinah Mining Chile.
Over several months, various mining companies have sent
representatives consisting of geologists, mining engineers and
management teams to view the ADL. Documents and historical issues
were provided, as requested, to each of these entities. Further
verifications of core samples have been undertaken by several
potential partners. Each of the groups also visited the
privately-held LDM and NUOCO properties.
Medinah Mining Chile will thoroughly investigate every offer
presented by the team of consultants in order to capitalize on
increasing the value of the Altos plateau properties. These offers
are being reviewed by Management and the Directors of Medinah
Mining Chile, and Medinah Minerals, Inc.
Juan José Quijano FernándezChairman/President – Medinah
Minerals, Inc.
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.
South American Mining MediaRoberto de Silva,
702-727-8235Roberto@southamericanminingmedia.comhttp://www.medinah-minerals.com
Medinah Mining (CE) (USOTC:MDMN)
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