Shareholder Update – March 1, 2010

On behalf of the Board of Directors and each of the Medinah shareholders, our thoughts and prayers are with the Chilean people during this catastrophic time and, in particular, with our Company President/CEO Juan José Quijano Fernández and his family.

We were finally able to speak directly with Señor Quijano Fernandez this morning and are pleased to report that he and his entire family are safe, but very saddened by the death, devastation and suffering of so many in Chile.

Although there is major destruction, in particular to the south of Santiago, the preliminary report as to Medinah’s properties is that they have escaped damage. The men and equipment assigned to the Las Dos Marias project have been deviated to participate in the Chilean rescue and cleanup operations.

A decision regarding our planned trip to Chile will be evaluated based on reality circumstances as determined by our Company President. At this time, we have been advised that several of the parties scheduled for meetings have confirmed that their plans have not changed. If it deemed priority prudent, we will travel, as scheduled, to conduct Company business.

Yours truly,


Gregory A. Chapin