Tuesday March 24, 4:12 pm Eastern Time
Company Press Release
Medinah Energy Expects that Full Scale Production is Imminent
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--March 24, 1998--Medinah Energy
Inc. announces that work is proceeding well on the Santiago gold
property. The property is reported to contain in excess of one hundred
million cubic meters of gold bearing material grading from 1 to 2.5
grams of gold per cubic meter (overall 1.5 grams average).
Mr. Paul Jones, Director and Vice President of Mining Operations, and
his crew have been on the property since March 16th, 1998, and report
that they have completed the equipment installation and will begin
production bulk sampling on the Santiago property on March 25th, 1998.
Results from this operation will be available approximately one week
from now and, upon review of these results, the company is confident
that full scale production will begin.
Mr. Jones also visited an adjoining property that is available to
Medinah for option purchase. This property was mined by early Spaniards
and is reported to carry high grade alluvial deposits. During this brief
review, Mr. Jones took several panning samples and reported that flakes
of gold were recovered from each of the pan samples. A more thorough
review of this property will take place after production is established
on the Santiago property.
The principal objective of Medinah Energy Inc. is to acquire and develop
known highly prospective mineral bodies and bring them to production.
Medinah Energy Inc. holds its principal claims and interests, directly
or through subsidiaries in Chile in the Andacollo gold mining district
and the Region de Valparaiso.
For further information, please call investor relations: Ralph Ulm or Al
Ginn at 1 (888) 572-0170
On behalf of the Board of Directors
Per: Larry Regis, President
Note: this news release may contain certain ''forward-looking
statements'' within the meaning of the United States Securities Act of
1934, as amended. All statements, other than statements of historical
fact, included 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.
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Contact:
Medinah Energy, Lake Elsinore
Ralph Ulm or Al Ginn, 888/572-0170
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More Quotes and News:Medinah Energy Inc (OTC BB:MDIN - news)Related News
Categories: mining/metals
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