Medinah Minerals (MDMN)

[Hurricane_Rick]

Auryn has updated its "About Us" page...

http://aurynmining.com/about-us/


ABOUT US

AURYN Mining Chile SpA (AURYN) is a privately owned company presently exploring the promising Altos de Lipangue historical mining district located approximately 30 kilometers northwest of Santiago, Chile.

AURYN now owns and controls over 10,500 hectares of mining claims at the Altos de Lipangue Area.

aurynmining.com/acquisition-of-altos-de-lipangue-mining-claims/

AURYN shareholders are the following:

MASGLAS, 65%
Medinah Minerals Inc., 25%
Cerro Dorado Inc., 5%
Private individuals, 5%

MASGLAS, www.masglas.com our parent company, directly owns over 20% of common stock of Medinah Minerals Inc. (MDMN OTCBB-Pink) aurynmining.com/auryn-mining-chile-spa-auryn-or-the-company-or-amc/

AURYN, has an interest equal to or greater than 85% in the following mining companies: NOUCO Mining Chile and Minera Mantos Azules Chile. These companies hold mining claims within the Altos de Lipangue mining district. Each one of these companies hold exploitation permits.

The property has excellent infrastructure including an upgraded access road connected to the Panamericana Norte highway.

Presently the focus will be on exploiting the recently discovered Caren-Merlin high-grade gold veins and the historical Fortuna de Lampa mine site.

We expect to start mine site preparation at the Caren-Merlin area on the second week of June, and we estimate about two months for this process to be completed.

Production will start immediately after the mine is prepared to be mined according to the existing regulations. We are confident in reaching a total production of 5,000 troy ounces of gold by the end of 2016.

The expected production for 2017 is conservatively set to be over 25,000 troy ounces of gold. After the first full producing quarter at the maximum allowed capability we will be able to forecast a more precise production estimate for 2017.

AURYN is also preparing the required mining application in order to obtain the required permitting for an open pit at the Fortuna de Lampa historical mine site.

After permitting is obtained, the mine preparation will follow, and production is expected to start during 2017. Actual production from this site has not been taken into account for our preliminary 2017 production estimate. We will update as soon as we have this data available.

AURYN forecasts a positive cash flow from these activities which will be reinvested in exploration on the Altos de Lipangue targets that have been defined by our geology experts. Drilling will be scheduled on the remaining four identified high grade gold veins at the Caren-Merlin site.

Regarding the Pegaso Nero (Copper-Moly area), AURYN is looking forward to reaching an agreement with the surface rights owners in the near future so that we can prepare the area for a campaign of Induced Polarization. This will help us clearly define the drilling targets.

Financing for operations will continue to be secured by MASGLAS until AURYN becomes cash flow positive. The terms of the financing are extremely favorable for AURYN. Any required cash is interest free until July 2017. After that interest will be LIBOR plus 4%, and debt repayment will occur with a portion of the revenue generated by the early production. Capitalization and conservative money management is a key pillar of the AURYN business plan.