Here's the one about the title, April 14th 1999 that is,
News Release
Medinah Completes acquisition of Alto de Lipangue and Las dos Marias Properties in Chile
Lake Elsinore, California, April 14, 1999
Purchase of the Alto de Lipangue and the Las Dos Marias properties, upon which the current diamond drilling program is being conducted, was concluded between Medinah Energy, Inc. and Se¤or Juan Jose Quijano. Medinah entered into an option agreement with Se¤or Quijano for the purchase of the properties in 1998. The completion of the purchase inscribes Medinah Energy, Inc. on the titles of the properties in Chile as the registered owner and concludes that part of the contract Title was registered to Medinah Energy, Inc. for payment in full for US$10,000,000 in previously issued Medinah shares, thus eliminating further share dilution.
The claim titles include the Gordon 1-60, Gordon 61-120, Amparo 1-40, Alta Mira 1-30, Mercedes 1-33, Juan Jose 1-25, Los Amigos 1-10, Concordia 1-20, Las Dos Marias 1-30, Lo Amarillo 1-72,and the Millalelfun 1-55 claims. The delivery of the claim titles gives Medinah control over the 5,000 hectare (+12,000 acres) block. Located on the property is the recent Alto de Lipangue discovery diamond drill holes that intersected widths approaching 500 feet of ore grade gold/copper mineralization.
Properties remaining under the option agreement include the Isle de Ipun, Caleu, Puangue and Carin placers and several other future potential acquisitions. Se¤or Quijano retains a 20% interest in any net profit received by Medinah from the claims. There is no net smelter royalty. |
