Friday December 11, 3:17 pm Eastern Time
Company Press Release
Diamond Drilling to Commence
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Dec. 11, 1998--Medinah Energy,
Inc. reports the following updates on the Company's gold and copper
projects in Santiago, Chile.
Sedna Drilling to implement drilling program at Alto de Lipangue and Las
Dos Marias
Management has agreed to engage the services of Sedna Drilling to
implement the recommendations of Gordon House, P.Geo., for the Alto de
Lipangue and Las Dos Marias properties near Santiago, Chile. The diamond
drill targets, identified by an IP survey, are a copper gold porphyry
deposit, a large shear zone containing significant gold values, a manta
deposit and an intrusive that may be a second porphyry. The first drill
program is 2,700 meters of core on the Alto de Lipangue porphyry and the
second entails 1,900 meters on Las Dos Marias. A large number of
high-grade gold veins and abundant disseminated copper sulfides and
massive sulfides led to the discovery of the associated intrusive
deposits, mantos and shear zones.
Bema Gold to review project in January
Bema Gold has expressed an interest in the Company's Santiago properties
and has informed management that Bema will send a geologist to view the
property in January, 1999.
Tunnel into first gold vein completed
Workers have completed a 70-meter tunnel into the Catan Vein. This vein
is one of an abundance of gold bearing quartz veins found throughout
Medinah's Santiago properties. The Catan vein has been traced on surface
for almost two kilometers in length and from one to five meters in
width. The tunnel intersected the vein 1,000 feet below the surface
outcroppings on the mountain. Assays from the Catan vein range from
trace to 70 grams of gold per tonne. At the point where the tunnel
intersected the vein, a channel sample across 1.2 meters of vein assayed
greater than 10.7 grams of gold per tonne.
Professional mining group completes study of Medinah's placer gold
project
A consortium of placer mining professionals based in Russia has
completed an independent appraisal of Medinah's Carin and Puangue placer
grounds. They have determined that commercial gold values exist. Mr.
Paul Jones, Mining Engineer for Medinah, determined commercial values
during a separate test of this area in the spring of 1998. Medinah owns
in excess of 12 kilometers of placer leases on these two rivers. Medinah
has been asked to joint venture, sell or partner these placer grounds.
Professor Juan Jose Quijano, is representing Medinah in the process of
brokering an agreement with the consortium.
Shareholders are requested to register their stock with:
American Registrar & Transfer Company
705 - No. 10 Exchange Place
P.O. Box 1798
Salt Lake City, UT 84110
U.S.A.
Ph: (801) 363-9065
Fax: (801) 363-9066
Seasons greetings and best wishes from the staff and management of
Medinah Energy, Inc.
On behalf of the Board of Directors
Per: Larry Regis, President
For further information, contact Ralph or Alan at Investor Relations at
1-888-572-0170 or http:/www.medinahenergy.com
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 anticipated 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.
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Contact:
Medinah Energy, Inc.
Investor Relations
Ralph or Alan, 888/572-0170
http:/www.medinahenergy.com
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