Dayton Sets Record Straight.Implies MDIN Have No Contest..As Suspected.
Sorry MDIN shareholders.You have been mislead me thinks.Hope everything else turns out better for you though.You seem like a nice bunch of folks.
Thank You Dayton for setting the record straight.Now let's get some good numbers out there soon.Please.Taurus----running with the bulls while having to avoid the bullchit.Yeee Haww!! Andolie Andolie Levre Levre........
FOR: DAYTON MINING CORPORATION
TSE, AMEX SYMBOL: DAY
JULY 13, 1998
Dayton Confirms it Holds Mineral Title and Surface Rights
to All Land Which Cover its Published Reserves, Resources
and Mine Plan at Andacollo
VANCOUVER, BRITISH COLUMBIA--Dayton Mining Corporation would like
to address certain issues regarding title to property in and
around its Andacollo Mine in Chile. These issues were raised in a
press release dated June 17, 1998 by Medinah Energy Inc.
Dayton confirms that it holds mineral title and surface rights to
all land which cover its published reserves, resources and mine
plan. For more detailed information see below.
Dayton's Efforts to Annul Mr. Tornero's Overstaked Mining Claims
in the Churrumata area
- Dayton holds title to mining claims Churrumata, Andacollo and
Rosario which were originally staked in the early 1900's and cover
a part of the Churrumata area. Churrumata is one of eight
deposits on the Andacollo property.
- Dayton's three claims were overstaked by Julio Alberto Tornero
Olivos ("Tornero") (the "Tornero Claims").
- In 1995 the Court of Appeals of La Serena ruled that the
Tornero Claims should be annulled and removed from the register.
- Prior to the 1995 court decision, Tornero transferred the
claims to his mother. As a result, the Mine Registrar was unable
to carry out the Court order to remove the claims from the
register.
- Dayton has therefore had to re-file its lawsuit against
Tornero's mother. Dayton obtained an injunction against any
further transfer of the title or sale of the Tornero Claims by
Tornero's mother pending the outcome of the new lawsuit.
- Based upon the original ruling of the Court of Appeals of La
Serena, Dayton believes it will be successful in its re-filed
lawsuit against Tornero's mother.
- Medinah Energy has stated that Dayton has lost two cases before
the courts in this matter. In fact, Dayton was successful in all
three cases cited by Medinah Energy involving the three claims
(File No.'s 1,813; 1,814; and 1,815). Dayton has merely been
frustrated in having the order of the court enforced for the
reasons cited above.
- Dayton confirms that it holds title and surface rights to all
land which cover its published reserves, resources and mine plan.
- Dayton holds the mineral rights in an area of Churrumata where
Tornero's mother and wife owned certain surface rights.
- In 1995 Minera Dayton applied to the Chilean courts for a
mining easement to enable the development of the property covered
by these surface rights. This is a common procedure in Chile and
is frequently granted by the courts to enable holders of mineral
rights to undertake their exploration or exploitation activities.
- In 1996 the First Instance Court of Andacollo awarded this
mining easement to Minera Dayton. Minera Dayton was required to
pay 50 million pesos (US$125,000) to Tornero's mother for this
mining easement, which amount has been paid.
- With Chilean police present to carry out the ruling of the
court, Minera Dayton took material possession of the property on
January 23, 1998 and removed the vacant building on site.
- A criminal complaint was filed against Minera Dayton by
Tornero's mother in the Court of Andacollo for the removal of the
building. The Court investigated the matter and all facts
pertaining to the issue and concluded that the complaint had no
merit and denied the request to bring criminal charges against
Minera Dayton. Tornero's mother has appealed this decision.
- Medinah Energy announced that the "Chilean courts have stated
that Dayton exceeded [its] access right granted them when they
demolished all of the buildings, plant and equipment". In fact
the courts have never made any such pronouncement and, as
described above, the Court of Andacollo has refused Tornero's
mother's request that criminal charges be brought against Minera
Dayton.
- Medinah Energy stated in its press release that the tearing
down of the building has "prompted the filing of . . . civil
compensation suits by Medinah Energy Inc. against Dayton". No
civil compensation suit has been filed to date against Dayton by
Medinah Energy Inc.
- None of the litigation being brought against Dayton with
respect to this matter affects Dayton's mineral rights or its
court granted easement rights to this property.
Dayton Mining Corporation holds a 100 percent interest in the
Andacollo Gold Mine located in central Chile. The company trades
on both the American Stock Exchange (AMEX) and Toronto Stock
Exchange (TSE) under the trading symbol DAY. |
