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

To: Handshake™ who wrote (1906)	4/9/1998 8:59:00 AM
From: KMT	Read Replies (2) \| Respond to of 25548

Handshake: It's not even 9:00 and they've adjusted the bid/ask from yesterday's close. Me thinks we're going to open up. Currently .47 x .50 KMT

To: Handshake™ who wrote (1906)	4/9/1998 9:37:00 AM
From: Handshake™	Read Replies (2) \| Respond to of 25548

Company Press Release Medinah Energy Inc. Completes 24 Million Dollar U.S. Acquisition of 1788 Mineral Claims Near Santiago, Chile Production Decision Pending On Two Placer Gold Properties LAKE ELSINORE, Calif.--(BUSINESS WIRE)--April 9, 1998--Medinah Energy Inc. entered into a contract to purchase for USD $24,000,000, 1325 gold placer properties and 463 hard rock gold properties in the Curacave, Communa de Lampa, Quintana, Communa de Cisnes, and Communa de Til Til gold mining areas of Chile. These areas are near Santiago with the exception of Communa de Cisnes which is in south central Chile. Medinah Energy Inc. owns 80% of the properties and the vendor retains 20%. Two of these properties contain the Puange and the Carin placer grounds. Paul Jones, V.P. of Mining Development and Director, has been on these properties during the past 3 weeks. Paul has completed a test program to confirm information given to Medinah by the property owner. Reports show that the Carin and Puange properties, combined, contain up to 170 million cubic meters of gold bearing material containing about 1.5 grams of gold per cubic meter. Testing done by INTEC, a professional testing facility in Chile, shows that a sample of 750 kilograms run through a sluice system recovered 0.6 grams of gold per cubic meter, or about 40% recovery. Extraction of a 950 kilogram sample using a centrifugal concentrator recovered 1.5 grams of gold per cubic meter or about 75% recovery. These samples were representative of a much larger sample of bulk material taken from the Carin property where a pit was dug 24 feet deep and 40 feet wide. In a sampling program by Paul Jones, several large pits were dug to bedrock and material run through a simple test sluice. The purpose of this testing was to verify the presence and frequency of gold occurrence. Gold was recovered from each of the pits with the main showings near bedrock. Paul reports that grades were similar to those results reported in the INTEC testing. Grades were 0.75 grams per cubic meter in the test sluice which represented less than 50% recovery. Paul Jones has recommended a budget be approved by management for the production of placer gold from the Puange and Carin properties. In addition to the placer grounds, 463 high grade hard rock properties form part of the purchase agreement. The Caleu 1-20 property contains several high grade veins including the Catan which grades about 40 grams of gold per ton over 2 meters. This vein has been followed on surface for 2.8 kilometers and has been trenched and sampled along the strike length to verify grades. A tunnel has been driven into the mountainside at a depth of 1900 meters below the apparent surface of the vein and it is anticipated that, because of the competent structure, the vein will continue to much greater depth. Beside the Catan vein an area of gouge material 1 meter wide has given assays of 1-1.5 grams of gold per ton and beside this, another vein, 1.5 meters wide assays 30 grams of gold per ton. These veins run perpendicular to 3 observed horizontal manto structures 3 to 5 meters thick. These mantos are bedded materials through which fractures have occurred and Veins such as the Catan have filled. The mantos themselves assay 20 grams of gold per ton. Finally, the company will set aside a percentage of revenues from the production of gold on the placer properties with the intent of purchasing back Medinah shares. For further information please contact Investor Relations: 1-888-572-0170 On behalf of the Board of Directors Per: Larry Regis, President Note: This news release may contain certain ''forward looking statements'' within the meaning of the United States Securities Exchange Act of 1934 as amended. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Energy Inc. are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the Heading ''risk factors'' and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities