COMMENTS FROM THE PRESIDENT
of
Medinah Mining Inc./ Medinah Gold, Inc.
June 4, 1999
I am taking this opportunity to inform all shareholders of Medinah
Mining, Inc. of the details of recent
developments regarding the creation of Medinah Gold, Inc. and the
implications thereof.
Medinah Mining, Inc. has been streamlined in order to benefit to the
fullest, all of its shareholders on an equal
basis. Medinah Mining, Inc. sold to Medinah Gold, Inc. at historical
costs, all of its assets except for Alto de
Lipangue and Las Dos Marias, the two new Chilean discovery properties.
The primary purpose is to avoid the
possibility that, in the event of a takeover of Medinah Mining, these
assets would be absorbed along with
Lipangue and Dos Marias without giving an additional benefit to the
shareholders.
Medinah Gold, Inc has issued 11,694,033 restricted shares to Medinah
Mining, Inc. for the properties. These
shares have been distributed pro rata as a dividend to Medinah Mining,
Inc. equity holders.
Medinah Gold, Inc. is now owned entirely by the shareholders of Medinah
Mining, Inc. and will be operated by a
Board of Directors appointed by its shareholders. Dividend shares have
been sent to all registered
shareholders of Medinah Mining, Inc. and all other individuals who, via
their brokerage houses, qualify for the
dividend May 7, 1999. There are expected to be some delays, originating
from the share depositories, in
sorting out who are the qualified brokerage house recipients of the
dividend. Early indications suggest that
more dividend shares are being requested than are legally available.
The Annual General Meeting (AGM) of Medinah Gold, Inc. will be called
and current Management will accept
nominations for a new Board of Directors. In the interim, the Directors
of Medinah Gold, Inc. are Larry Regis,
President; Les Price, Vice President; and Gary Goodin, Treasurer,
Advance notice will be given to all
registered shareholders. Our attorney, Michael Morrison, is proceeding
to file the required documents to
register Medinah Gold, Inc. as a public company.
It is intended that Medinah Gold, Inc. not only be owned by the
shareholders but also be directed and run by
them. Nominations for the positions of Directors, Secretary-Treasurer,
Vice President, and President, must be
for only those individuals who qualify to hold office. For example, in
the United States, individuals who have
criminal records, are convicted of securities fraud, or any other legal
restriction that applies, may not hold such
an office.
There has been some difficulty in understanding these corporate
developments and I hope this letter explains to
your satisfaction both the details of the dividend and the benefit that
we have delivered to you, our shareholders.
The Board of Directors is proud to be able to present to you this new
company that has been developed from
common effort. All of you have been a part of bringing into existence a
new and important discovery in Chile
and at the same time, bringing forth a new company with a wealth of
potential in the assets that it holds. What a
good start to another exciting series of projects!
I would like to remind all of you that, should you have any questions
about Medinah Mining’s
projects in Chile, Medinah Gold and the dividend or if you just want to
talk to us on any corporate
subject, our doors are always open and you are welcome. Our Website has
all of the projects,
including independent confirmations of the new discoveries. Mr. Russell
Godwin will post shortly the
new Gordon House report on Phase 1 Drill Program at Alto de Lipangue
– it’s great
reading. Earl Hope, Russell Godwin and myself, Larry Regis, are
available to take your calls.
Obviously, I may not be able to talk to all of you, but Earl and Russell
are well informed and available
every day.
Remember that at the AGM of Medinah Energy, Inc. in Reno, many of you
thought our projects might be "too
good to be true"? Remember that, to a person, you were all provided with
documentary evidence, contracts,
reports, financial statements and professional opinions from qualified
engineers and geologists? Remember
how skepticism became excitement about the real possibilities of our
properties? Remember how we looked
forward with great anticipation to the work programs? Remember? Well
friends, through our drilling program,
you and I have seen a possibility become a reality. Now, just like at
the AGM, all of the documentary evidence is
at your fingertips.
Check out our Website at medinahmining.com
It is my sincere recommendation that you register your shares with the
transfer agent. For those who hold their
shares in "street form" at a brokerage firm, your accounts may be
designated as having the Medinah Gold
Shares contained therein even though the certificate has not landed at
that firm. Please insist upon delivery of
your physical Medinah Gold Certificates.
On behalf of the Board of Directors, Medinah Mining, Inc., Medinah Gold,
Inc.
Larry Regis, President |
