LAKE ELSINORE, Calif.--(BUSINESS WIRE)--May 14, 1999--Medinah Mining, Inc.
(formerly Medinah Energy, Inc.) now appears on the OTC Bulletin Board as
Medinah Mining, Inc. (MDHM), CUSIP number 5848944109. No consolidation of
the share capital has occurred, or is contemplated.
Medinah Gold, Inc., a Nevada Corporation, has purchased all the properties
and rights thereto from Medinah Mining, Inc., save and except the Alto de
Lipangue and Las Dos Marias holdings that are the subject of ongoing
exploration and development in Chile and retained by Medinah Mining, Inc.
The consideration for the sale of these properties to Medinah Gold, Inc. is
11,694,033 common shares, which have been declared, effective May 7, 1999,
as a dividend to all equity holders of Medinah Mining, Inc., on a ratio of
one share of Medinah Gold, Inc. for each 10 common shares owned of Medinah
Mining, Inc., and one share of Medinah Gold, Inc. for each four preferred
shares of Medinah Mining, Inc. The result of this dividend gives 100%
ownership of Medinah Gold, Inc. to the current shareholders of Medinah
Mining, Inc. in the same ratio as their present equity.
The law firm of Michael Morrison in Reno, Nevada has been engaged to file
documents with the Securities Exchange Commission to register Medinah Gold,
Inc. Shares received as dividends will be restricted under State and
Federal securities laws.
Dividend record date was May 7, 1999 and the dividend shares of Medinah
Gold, Inc. will be distributed by the Transfer Agent in due course.
Shareholders of Medinah Mining, Inc. may replace their old certificates
(Medinah Energy, Inc.) by remitting them directly to the transfer agent:
American Registrar & Transfer Company
705 - No. 10 Exchange Place
P.O. Box 1798
Salt Lake City, UT 84110
On behalf of the Board of Directors
Per: Larry Regis, President
For further information, contact RGM Communications Inc. at 1-800-547-9375
or access the web site at medinahenergy.com
CONTACT: RGM Communications Inc.
800/547-9375
medinahenergy.com
15:22 EDT MAY 14, 1999
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