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RESPONSE TO SHAREHOLDERS
Q&A WEBSITE
August 3, 2007
Further to our commitment to answer shareholders questions,
we continue this week with answering the most commonly asked
questions, in no particular order.
Q) If we are sitting here a year after HOCH gave us a standard
offer why didn't we just go with them in the first place?
AND why haven't we just asked someone to drill and prove
up the property and sell it?
A) The offer presented by HOCH contained several options
that could have left pieces of the properties at future jeopardy.
In simple terms, HOCH could have “cherry picked”.
This was not acceptable
At the AGM on May 17, 2004, the various options were discussed
and the shareholders voted to Joint Venture and/or sell the
property rather than expand our reserves by further diamond
drilling. The Directors are following the dictates expressed
by shareholders.
Q) Would you identify the other owners of Medinah Chile
S.A. and their percentage ownership? I also own shares of
Cerro Dorado and Medinah Gold. What percentage of the property
Lipangue does MDMN own? Is it 100%, 10%, etc.?
A) The Chilean company Medinah Chile, S.A. owns 100% of the
claims, with the exception of two claims that Medinah owns
a 10% free-carried interest. Medinah Minerals, Inc. USA owns
50% of the shares of Medinah Chile, S.A.
Q) Copper Partners Investment Co. heard of them? I think
they are on the mountain right now just a guess. Anyway are
we getting any head way? YOU asked us to send questions and
you would answer them every week you missed last week guess
you were busy. ANYWAY how are we doing I hear things are
really heating up there on that mountain?
A) I am not aware of “Copper Partners” but do
know that there have been several uninvited property visitors
in the last month, primarily by helicopter rather than by
road. Anyone using our private road must have permission
to go past our locked gates and therefore, we have a record
of these visits.
Q) If there a stop on mdmn/cdch why is ameritrade still
tradeing these stock?
A) The “Stop” as shown on the Pink Sheet quotation
system refers to “caution” as, although the Company
has provided current 15-C211’s to the brokerage community,
it does not provide audited financial statements. A number
of companies in similar circumstances as Medinah are working
in consort with the Pink Sheets to comply with their amended
alternatives, which are available for the companies, but
very expensive.
The “Stop” does not refer
to a halt in trading by Ameritrade or any other brokerage
firm.
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