SHAREHOLDER UPDATE

February 1, 2007

Dear Shareholders:

Over the course of the last few months, detailed satellite imagery photos have been undertaken over each of the Alto de Lipangue, Las Dos Marias and Cerro Dorado properties and interpreted by several professionals.  The most modern equipment available was utilized in the satellite testing including “Quick Bird” survey.  The descriptive interpretation Nasa System results indicate the presence of a porphyry mineral deposit asset on each of the Medinah and Cerro Dorado properties.  These very exciting satellite results have been shared with each of the potential joint venture partners presently in discussions with Medinah Minerals.  During the recent weekend, several potential joint venture company representatives, along with Company President, Juan José Quijano Fernández, again revisited the Medinah and Cerro Dorado properties to examine various formulations and mineralization outcroppings detailed in the satellite report.  Medinah Minerals, Inc., intends to post the satellite imagery results on the Company website for the shareholders to review.

Various interested parties also revisited the core samples from Drill holes 1-23.  The results of these drill core holdings and findings are chronicled in the A.C.A. Howe reports listed on the Medinah Minerals Company website.  Several of the interested joint venture mining concerns has stated that they have now completed their detailed examination(s) and analysis of the core samplings.

Meetings are scheduled throughout the week with several of the potential joint venture partners.

Further updates will be forthcoming prior to February 9, 2007.

Les Price
CEO