Medinah
Minerals, Inc. - News Release
MEDINAH
MINING, INC. COMPLETES NAME CHANGE
AND DECLARES DIVIDEND
Lake Elsinore,
CA, May 14, 1999 … Medinah Mining, Inc. (formerly Medinah
Energy, Inc.) now appears on the OTC Bulletin Board as Medinah
Mining, Inc. (MDHM), CUSIP number 584894 10 9. No consolidation
of the share capital has occurred, or is contemplated.
Medinah Gold,
Inc. a Nevada Corporation, has purchased all the properties
and rights thereto from Medinah Mining, Inc. save and except
the Alto de Lipangue and Las Dos Marias holdings that are
the subject of ongoing exploration and development in Chile
and retained by Medinah Mining, Inc.
The consideration
for the sale of these properties to Medinah Gold, Inc. is
11,694,033 common shares, which have be declared, effective
May 7, 1999, as a dividend to all equity holders of Medinah
Mining, Inc. on a ratio a 1 share of Medinah Gold, Inc.
for each 10 common shares owned of Medinah Mining, Inc.
and 1 share of Medinah Gold, Inc. for each 4 preferred shares
of Medinah Mining, Inc. The result of this dividend gives
100% ownership of Medinah Gold, Inc. of the current shareholders
of Medinah Mining, Inc. in the same ratio as their present
equity.
The law firm
of Michael Morrison of Reno, Nevada has been engaged to
file documents with the Securities Exchange Commission to
register Medinah Gold, Inc. Shares received as dividends
will be restricted under State and Federal securities laws.
Dividend record
date was May 7, 1999 and the dividend shares of Medinah
Gold, Inc. will be distributed by the Transfer agent in
due course. Shareholders of Medinah Mining, Inc. may replace
their old certificates (Medinah Energy, Inc.) by remitting
them directly to the transfer agent:
American Registrar
& Transfer Company
#705 – #10 Exchange Place
P.O. Box 1798
Salt Lake City, UT
84110
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30 -
For
further investor information contact Investor Relations
at (604) 903-2981 or visit us online at
www.Medinah-Minerals.com
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 Energy, Inc.
are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate, and actual results and future
results 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.
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