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

To: EtTuBrute who wrote (1849)	4/7/1998 2:15:00 PM
From: Handshake™	Read Replies (1) \| Respond to of 25548

Damn you're good...It happens everytime I'm a bull Hey whats our shares outstanding count? Also notice the commentary on the Chilean gov. _________________________________________________________________ Sara Hallitex Corp. Subsidiary Janus Enermining Acquires Mining Properties in Chile MARINA DEL REY, Calif.--(BUSINESS WIRE)--April 7, 1998--Garrett K. Krause, president and chief executive officer of Sara Hallitex Corp. (Nasdaq/BB:SHAL - news), announced that its wholly owned subsidiary, Janus Enermining Inc., has signed a mining acquisition agreement with Blue Ocean Mining Corp. for a series of mining and mineral concessions located in Chile. Janus Enermining is an international energy, mining and resource company that has been in business since 1994, pursuing energy, mining and mineral ventures throughout the world. The properties consist of nine total concessions in the Maricunga Gold Belt, Chile. The concessions consist of the Piedra Amarilla 41, Carolinas 1-20, Carolinas 21-40 and six additional surrounding concessions. The agreement calls for Janus to acquire a 48 percent interest in these mining concessions, including the development and management rights for the properties. Several areas adjoining the newly acquired concessions have been claimed by mining concerns Anglo American and Codelco. The properties are located approximately 60 km SE from Placer Dome's La Coipa Mine (producing 175,000 oz/au per year) on the gold-rich Maricunga Gold Belt, which stretches along the Andes Mountains on the northern part of Chile bordering Argentina. Independent engineering reports currently exist on the properties, and as of this date Janus Enermining has hired an American engineering firm to perform additional testing for mineralization on the properties. Current reports discovered large reserve potential for titanium, gold and sulfur on the properties. Chile is the single most active mining country in the world. A stable, democratically elected Chilean government actively encourages foreign investments and protects the interests of foreign mining companies. Mining ventures, which attracted more than 70 percent ($1.76 billion) of the nation's total foreign investment in 1994, are controlled through the highly supportive Ministry of Mines, which is composed of four regulatory agencies and three state-owned mining companies. Chilean mining legislation and foreign-investment structure are being recognized and adopted as the economic model for much of Latin America. Krause commented: ''I have completed over six months of active research on these properties and analyzed over 2,000 pages of reports previously completed on the Carolinas and Piedra Amarilla properties in the last 10 years. ''If the reserve valuation previously reported by Ralph M. Parsons Co. is verified by our engineers, then this tremendous asset can be considered a world-class mineral discovery and will immediately bring a substantial added value to the stock of Janus Enermining Inc. and its stockholders, including its majority stockholder, Sara Hallitex Corp.'' With the acquisition of these concessions and the ongoing plan to acquire other concessions in this mineral-rich part of the world, Janus Enermining will immediately have a strong presence in the Chilean mining industry. Janus is currently negotiating to acquire additional concessions in Chile and other diversified resource properties around the world in its effort to become an international diversified energy, mining and resource corporation. Janus Enermining is scheduled to be the first company spun out under the Sara-IPO-Dividend (SIPOD) program to the Sara Hallitex shareholders of record as of April 10, 1998. Further details on this dividend can be found in the Sara Hallitex news release dated March 31, 1998. Sara Hallitex is a public venture-capital firm dedicated to the philosophy of acquiring and investing in companies and projects that when fully developed will spin out under the SIPOD program as Nasdaq publicly traded companies, providing major long-term dividends and portfolio profit enhancements for its shareholders. For more information on Sara Hallitex, watch for the grand opening of the Sara Hallitex World Wide Web site, to be launched on April 19 at www.sarahallitex.com; or find articles, news releases and current information at www.stockpicks.com.