Medinah Minerals (MDMN)

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Medinah Minerals Inc. Sells Nuoco Interest to AURYN Mining Chile SpA

February 16, 2016

Medinah Minerals, Inc. (Medinah) (OTCMarkets: MDMN) is pleased to report the sale of its 15% interest in Compañía Nuoco Mining Chile S.C.M., to AURYN Mining Chile SpA (AURYN) for 645,000 shares of AURYN. This brings Medinah’s total interest in AURYN to 27,469,000 shares or 27.5% interest.

Kevin Tupper, Medinah’s President & CEO, reports, “This is an important step in cleaning up Medinah’s balance sheet. Medinah was not in a financial position to contribute its 15% share of the NUOCO expenses and had no way to maintain its interest. Selling our interest to AURYN provides us with an increased percentage in the overall project and also enables AURYN to directly own 100% of the Altos de Lipangue Mining District claims. Furthermore, in light of AURYN’s recent announcement regarding the public listing of their securities, this puts Medinah in a stronger financial position.”

Submitted on behalf of the Board of Directors


http://medinah-minerals.com/medinah-minerals-inc-sells-nuoco-interest-to-auryn-mining-chile-spa/