SHAREHOLDER UPDATE
December 23, 2011
Dear Shareholders:
Management of Medinah Minerals (Chile) S.A. are pleased to report that all preparatory details of the Compañia Minera LDM Chile Mining operation at Las dos Marias have been satisfied. Señor Quijano has travelled several times to the property with the Mining Contractor to meet with land owners and now has a usage Agreement with them for the surface rights adjacent to the property. This property will be utilized for the storage of waste rock and tailings and holding area for ore which will then be transported to the processing refinery. The Mining contractor will now commence mining operations and begin to drive the tunnel into the high-grade gold zone previously intersected in drilling programs at the Las dos Marias site on the Lipangue plateau. Previous drilling intersected sections of the high-grade zone that returned spectacular assays exceeding 100 grams of gold per tonne.
Management of Medinah Minerals (Chile) S.A. is now considering three offers of either purchase and/or joint venture as to the Altos de Lipangue property. One offer is in the stage of a formal contract which, if accepted, can be immediately legalized with the Notario. Details, where permissible, relative to these offers will be released to all shareholders in real time or perhaps news of the acceptance of one of these offers when we are all returned from our Christmas holidays.
Management has notified the parties of the prior failed agreement of our intention to sue for damages and breach of contract. Management has also issued a demand for the release of our Trust funds and the payment of penalties in excess of $1 million (one million dollars). Names of these parties will be released only in filed court documents as Medinah Minerals (Chile) S.A. remains under the certain terms of the Non-Disclosure Agreement.
Management also reports that the Company is proceeding with legal actions against Godwin et al in our countersuit that has been ignored for too long by the defendants. Further to that, law enforcement personnel are currently pursuing an expanding investigation into the criminal activities of associates of Mr. Bogdan Borkowski. All known associates are being sought out and certain parties who have had a history of interfering with Medinah Management's personnel and the Company’s right to pursue its business interests in a free and unfettered manner have, or soon will be reported to those same authorities.
Management wishes all of our Shareholders a safe and Happy Holiday.
Señor Juan José Quijano Fernández
President/CEO
Act in Spite of Fear and Uncertainty
Ex B.....
