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RESPONSE TO SHAREHOLDERS
Q&A WEBSITE
August 10, 2007
We continue this week with answering the most commonly asked
questions, in no particular order.
Q) “The major mining companies
that have been on the mountain doing exploration of their
own have undoubtedly accumulated lots of data. Is this
information being made available to Juan/Medinah?”
A) All of the data collected, except that which is generated
by the majors for their internal evaluation and negotiations,
is made available both to Medinah and, as well, forms part
of the public records in the various mining offices in Chile.
Q) “Would it be reasonable to think that an interested
party would want to begin development in the Chilean spring
(next month?)”?
A) We would anticipate an active development program commencing
immediately upon completion of a Joint Venture Agreement.
Q) “These questions were submitted
in July but not yet answered. 7/6/07 What is the salary
package including options and other incentives does Les
Price have with Medinah? 7/6/07 How many shares do the
officers and other related parties own of Medinah?”
A) Les Price, in his capacity as CEO, has an industry standard
Employment Contract since 1999, with an entitlement to monthly
compensation of $5,000 plus a $300 per month car allowance.
There are no stock options included in the Employment Contract.
The shareholdings of the Officers and
related parties are at their discretion for disclosure
and the question could be posed to them as individuals.
The Company’s policy
is, and has always been, to not disclose individual shareholders’ positions
to third parties. At the last AGM, it was disclosed that
Juan José Quijano and his family hold, by far, the
largest share block.
Q) “Good morning Les. Just a
couple of quick questions. Has JJ finished his meetings
with the various groups to the point of expecting offers
in writing very soon? Will you be going to Chile this week
or possibly next week? I guess that your answer to the
last question really tells me where we are at.”
A) Juan José is continuing an active schedule of meetings
and negotiations with several groups of potential Joint Venture
participants. I remain on standby to travel to Chile on a
moment’s notice if I can be of assistance in completing
a Joint Venture Agreement.
Q) “Abel Alberto is a geologist
who apparantly has been doing work for Medinah. Exactly
what is his role with Medinah? What are his qualifications
or can you provide shareholders with his resume?”
A) From time to time, during the past several years, Medinah
has availed itself of the professional services of Abel Alberto,
an independent consulting geologist from Santiago, Chile.
Abel Alberto is a Graduate of Geology, Universidad de Buenos
Aires (UBA) Argentina.
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