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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: findstock who wrote (18946)	9/16/1999 8:22:00 AM
From: Mike Gold	Read Replies (2) \| Respond to of 25548

Findstock, don't complain-it could be a lot worse-take a look at this PR for a junior mining company in Chile now trading at 2 cents: Tuesday September 7, 2:04 pm Eastern Time Company Press Release Fremont Gold Corporation Announces Letters of Intent Terminated & Corporate Update BELLINGHAM, Wash.--(BUSINESS WIRE)--Sept. 7, 1999--On May 19, 1999, Fremont Gold Corporation (OTC BB:FGLD - news; ``Fremont' or the ``Company') announced the signing of Letters of Intent with Caledonian Pacific Minerals N.L. (``Caledonian') on the Cenizas, Milagro and Resguardo properties held by Fremont and located in northern Chile. These agreements gave Caledonian the right to earn various interests in the properties by making property payments and completing exploration work. Caledonian has notified Fremont that, due to changing priorities, it will not be proceeding with these agreements and therefore Fremont and Caledonian have agreed to terminate the three Letters of Intent. Fremont is in discussion with other potential joint venture partners who would be willing to commence work on the properties in the near future. Due to the continuing poor market conditions for junior gold exploration companies and the resulting difficulties in raising money, the board of directors of Fremont have approved a plan to negotiate conversion of the majority of the Company's debt into Fremont stock by issuing up to 25 million shares. Currently, the Company has debts of approximately US$770,000. This amount is comprised of unpaid salaries to current and former employees, trade debt, interest debt and loans made to the Company. As a result of Fremont's reduced operations and financial condition the Company has not been able to comply with regulatory obligations to file its Form 10KSB for 1997 or 1998. Fremont is a junior exploration company specializing in the acquisition and exploration of mineral properties in Latin America.