SHAREHOLDER UPDATE
February 21, 2007
Dear Shareholders:
During the past 2 years or so, Management of Medinah Minerals,
Inc. has been working closely with several key mining companies
who have demonstrated a serious interest in participating
with the Company to develop its early discoveries at the
Alto de Lipangue property just north of Santiago, Chile.
Company President, Sr. Juan José Quijano Fernández
has met with many groups during this time period and has
shared the geological, geophysical and diamond drilling information
that the Company assembled during its previous exploration
and development of the property. Management has always
believed that the Alto de Lipangue has the potential to be
an enormous discovery of great significance to the Company,
its Shareholders and Chile. Extra diligence, therefore,
was taken to ensure that potential partners share the same
view.
During the most recent 12 months, the current potential
Joint Venture Partners have worked closely with Medinah and
Company personnel developing areas of interest that prior
work highlighted. Exploring new zones to test the boundaries
of the Lipangue deposit, building roads for access to newly
discovered mineralized zones, conducting all manner of geological
and geophysical programs, have uncovered a vastly expanded
area for the projects' potential. Adding many more
claim groups to cover and protect these extensive new areas
of interest was required. By utilizing the latest scientific
technologies to enhance, amalgamate and relate all data,
both new and old, an extraordinary picture of the Alto de
Lipangue has emerged.
The following claims and claim groups have been added to
the original Alto de Lipangue holdings: Mambo 1, Mambo II,
Mambo III, Mambo IV, Grande Martin 1-60, Grande Martin 61-120,
Pomm 1-60, Puma 61-120, Paloma 1-60, Rosario 1-60, Rosario
61-120. With the addition of these new claims, Medinah’s
holdings, related to property size, has been increased by
approximately five times over the original mapped area, and
the expansion is continuing.
Extensive road building, surface exploration, IP surveys,
aerial electro magnetic surveys, trenching and geological/geochemical
sampling have uncovered vast areas of mineralization previously
undiscovered, but related to the Lipangue breccia and the
suspected causative porphyry intrusive.
All of this information adds credence to the typical porphyry
model scenario outlined to Shareholders at the September
2006 Annual General Meeting.
In addition, indications were growing of the probability
of a secondary porphyry to the immediate south of the Alto
de Lipangue mesa. Assay work, although backlogged due
to various constraints at the Chilean labs, has confirmed
both the relationship and potential of a secondary intrusive
discovery.
With all of this groundwork in place for reference, an in-depth
satellite survey, using the latest high-tech equipment, was
undertaken. Management is now in receipt of a complete
and detailed report of its findings. This report summarizes
all of the work done to date and concludes the following:
(a) Spanish version and; (b) translated website English version
below:
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“CONCLUSIONES"
1- En este sector de
estudio se nan emplazado; un yacimiento que puede ser
clasificado como del tipo PORFIDO DE COBRE-ORO (en la
zona de la planicie de los Altos de Lipangue) y, además,
un PORFIDO DE MOLIBDENO-COBRE en el area inmediatamente
contigua ubicada al sur de la anterior.
4- El volumen de Recursos
Minerales identificados a la fecha, alcanza
ya a varios cientos de millones de toneladas,
principalmente asignados a los pórfidos y
skarn sumados en conjunto.
7- Todo lo antedicho muestra
claramente que estamos aqui frente a un antiguo y famoso
Distrito Minero que hoy presenta un potencial de Recursos,
con el que puede sin duda clasificarse como de Clase
Mundial.”
CONCLUSIONS
1- "In this sector
of study they are located; a deposit that can be classified
like of type PORPHYRY OF COPPER-GOLD (in the zone of
the plain of the Alto de Lipangue) and, in addition,
a PORPHYRY OF MOLYBDENUM-COPPER in the contiguous area
immediately located to the south of the previous one."
4- "The volume of
identified mineral resources to date, reaches already
to several hundreds of millions of tons, mainly assigned
to the added porphyries and skarn together."
7- "All the aforesaid
samples clearly show that we are, as opposed to an
old and famous mining district here, that today presents/displays
a potential of resources, with which can without a
doubt be classified World Class."
Clemente Sepulveda Perez
Analista en Sonsores Remotos
Febrero 200
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All work on the Medinah properties has been done under the
direct supervision and approval of Sr. Juan José Quijano
Fernández in the most professional manner by the qualified
geological staff of the potential Joint Venture Partners
and Medinah Minerals, Inc. The main purpose of the
work, aside from defining the resource, is to provide all
parties with the knowledge of the potential size and value
of the deposit in order to finalize a Joint Venture Agreement.
Les Price, CEO
Medinah Minerals, Inc.
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