Medinah Mining Inc. (MDHM) Message Board

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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)

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Jan 9 9:30 AM EST

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To: Joe Bilich who wrote (7001)	11/4/1998 9:35:00 PM
From: Handshake™	Read Replies (1) of 25548

Dayton news*** Now I know why we beat them to the punch! Related Quotes DAY DAY.TO 7/16 0.75 +0 +0.12 delayed 20 mins - disclaimer Wednesday November 4, 7:48 pm Eastern Time Company Press Release Dayton Mining: Banking and Legal Update VANCOUVER, BRITISH COLUMBIA--Dayton Mining Corporation (TSE, AMEX: DAY - news news) is pleased to announce that its banking syndicate has agreed to continue to waive existing defaults until November 30, 1998, thus extending the waiver that expired October 19, 1998. During the time of this waiver Dayton will be negotiating a restructuring and extension of the loan repayment terms. The current bank loan outstanding is US$17.9 million of which $12.9 million is cash collateralized. On October 27, 1998, the Second Judicial District Court of the State of Nevada entered its order granting the motion of Dayton Mining Corporation to quash service of process on Dayton Mining Corporation. Dayton's motion asserted that the Second Judicial District Court does not have jurisdiction over Dayton Mining Corporation for the claims asserted by Medinah Energy Inc. against Dayton Mining Corporation. The Court Order stated the ''plaintiff [Medinah] has failed to provide competent evidence of essential facts establishing a prime facie showing of jurisdiction'' and ''[t]herefore, jurisdiction here has no basis in law or fact.'' This decision may be appealed by Medinah to the Nevada Supreme Court. Actions are still underway in Nevada by Medinah Energy Inc. against Dayton Mining (US) Inc. and in British Columbia by Medinah Energy Inc. against Dayton Mining Corporation and Dayton Mining (US) Inc. Dayton Mining Corporation holds a 100 percent interest in the Andacollo Gold Mine located in central Chile, and trades on both the American Stock Exchange (AMEX) and Toronto Stock Exchange (TSE) under the trading symbol DAY.

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