This is a little old but interesting.
SHAREHOLDER UPDATE
December 20, 2007
Dear Shareholders:
The Management of Medinah Minerals, Inc. reports that Company CEO, Les Price, recently traveled during the first week of December to handle business matters relative to Medinah holdings in Chile. Les Price, along with Company Legal Counsel, entertained an intensive series of meetings and negotiations that were set up by Company President, Juan José Quijano Fernández. Also in attendance were various Geologists, Mining Engineers, Lawyers and various Company representatives of each of the organizations contemplating the finalization of a Joint Venture Agreement with Medinah Minerals, Inc. A series of negotiations were undertaken to complete the necessary legal authority for the Officers of Medinah Minerals (Chile) to memorialize a Joint Venture Agreement with a designated party.
On December 5, 2007, the Board of Directors passed the following Resolution: Resolved: The Board of Directors of Medinah Minerals, Inc. concurs with the finalization of a Joint Venture Agreement as to the Alto de Lipangue and associated properties with the designated groups and authorizes President Juan Jose Quijano Fernandez, on behalf of Medinah Minerals, Inc., to formalize the Agreement.
During this negotiation period, Company Management progressed through a list of terms and conditions requisite to finalizing a Joint Venture/Purchase Agreement with major partners on the Company’s Alto de Lipangue project. Several issues required Company Management’s input to bring the contracts to a final stage. Mandates were placed that Medinah Minerals (Chile) acquire outstanding claims, not currently held but associated with the Alto de Lipange holdings, and clear all final encumbrances. Each of these matters was completed to the satisfaction of the Joint Venture partners. Management is still bound by Non-Disclosure Agreements that are in place applicable to these negotiations and therefore Management cannot divulge any new information. However, we are now at the stage where unless something unforeseen occurs among the parties, there will be no further changes made and no untoward time delays in completing an Agreement and releasing the details publicly.
Rest assured that the instant that a Joint Venture Agreement is signed, the information will be disseminated immediately to shareholders.
NEW PROPERTIES
A. Alto de Lipangue. Over the course of the last several months Medinah Minerals (Chile) had been in negotiations relative to the acquisition of three remaining claim groups that would complete the entire Alto de Lipangue project. These properties are located South of the holdings known as the “Gordon” claims and extend to the outer boundaries of our Copper/Moly properties that are now easily accessible via the “new” South road. Company Management is pleased to report that these claims are now the property of Medinah Minerals (Chile). With these latest acquisitions, Medinah Minerals (Chile) has a contiguous “Mensura” land claim position from North to South and East to West. An updated property claim map is being prepared for publication on the Company’s website.
B. Madre de Dios, Chiloe and Ipun Islands.
On October 31, 2007, Global Gold Corporation
www.globalgoldcorp.com consummated an Agreement with members of the Juan José Quijano Fernández family whereby they will earn a 51% production hold relative to the 25,000 hectares of placer properties that have been under development by Juan José Quijano Fernández for several years. Global Gold Corporation is “now” actively working on these properties and anticipates having their first plant in operation within 6 months (see recent picture of Juan José Quijano on the Madre de Dios property, and an example of coarse gold samples recovered during various testing stages). Company Management is excited to announce that an Agreement has been completed with Juan José Quijano Fernández whereby Medinah Mining, Inc., has acquired a 5% ownership interest in the entire Madre de Dios project, as well as Chiloe and Ipun Islands projects. Global Gold Corporation estimates the combined Madre De Dios, Chiloe, and Ipun Islands projects value, at completion, to have an estimated worth of +60,000,000 (sixty million) Euros.
ADDITIONAL BUSINESS
A. On December 5, 2007, the Board of Directors passed the following Resolution: Resolved: The Board of Directors of Medinah Minerals, Inc., authorized the issuance of 50,000,000 “lettered” shares of Medinah Minerals, Inc. for the acquisition of the three remaining claims to complete the contiguous Alto de Lipangue holdings, the acquisition of a 5% ownership in the Global Gold Corporation/Madre De Dios, Chiloe, and Ipun Islands projects, and to eliminate the accumulation of $400,000 in outstanding tax liabilities, land taxes, legal filings, legal expenses, and legal actions in order to finalize the Joint Venture Agreement.
The Holiday Season is once again upon us. We, at Medinah Minerals, Inc., wish each of our loyal shareholders and their loved ones all the beauty that is the Holiday Season. We look forward to meeting you again at the AGM in February 2008 (exact date will be announced in January 2008).
L.P. (Les) Price
CEO