And, what about this one, do you think this is false also ? ****************** Monday May 11, 1:51 pm Eastern Time
Company Press Release
Gold Production in Chile
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--May 11, 1998--Medinah Energy
Inc. (MDIN) announces completion of the first stage of private financing
with the receipt of US $500,000 from a London Institutional Investor.
Funds are earmarked for the set up and completion of a mill on Medinah's
Santiago, Chile, gold placer properties. In addition it will finance the
completion of the Catan tunnel, allowing shipment of gold ore from
Medinah's properties for processing at the ENAMI refineries. Both
projects are being completed concurrently with gold production projected
to begin in three weeks. This process has been expedited through the
efforts of Vice President of Mining, Paul Jones, P. Geologist and his
staff. The two projects will initiate substantial cash flow to Medinah
Energy Inc.
Medinah has also completed the renegotiations of all properties in the
Andacollo district, successfully converting them from option contracts
to purchase contracts. The properties contained in these agreements are
as follows: Cobre Morado, one to ten, Mina Verde, Berta one to five,
Ultima one to three, Mac Pato, La Colorada one to five, Alianza, Lanzazo
one to four, Nicolas one to twenty seven, Corazon de Jesus one to two,
Espacio one to four, Capacho one to five, Toro, Mercedes one to three,
Mercedes Siete, Volcan one to sixteen, Maria Luz, Beagle, Gabriella,
Nueva, Eduardo Uno one to twenty, Eduardo Dos one to twenty, Eduardo
Tres one to twenty, Juvenal Uno one to twenty, Juvenal Dos one to
twenty, Juvenal Tres one to fourteen, Turista one to one hundred. In
addition to these properties Medinah has registered numerous additional
claim blocks over these areas to create more contiguous land groupings.
Corporate officials in Chile report that since completion of our
property acquisitions, requests for information by several major mining
interests have been received and are being honored.
Note: This news release may contain ''forward looking statements''
within the meaning of the United States Securities Exchange Act of 1934
as amended. All statements of historical fact, including 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
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.
For further information, please call investor relations: 1 888 572 0170
On behalf of the Board of Directors Per: Larry Regis, President
------------------------------------------------------------------------
Contact:
Medinah Energy, Lake Elsinore
Investor Relations: 1-888-572-0170
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