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Tuesday, May 09, 2006 11:11:27 PM
Dear Mr. Harris / Concerned Investor,
MGM Mineral Resources would like to advise you that there has been no material change or event that would aversely affect the recent slide in the share price from our end. The Company is currently fulfilling its objectives and business plan; in fact, is proceeding further ahead of schedule.
The Company has acquired La Esperanza Mine, appointed a world renowned Lead Geologist to our team, which has produced immediate results. Our shareholders will see how instrumental our new Lead Geologist has been to the Company throughout subsequent Press Releases. This will all prove very beneficial for our shareholders and for the future growth of MGM Mineral Resources.
We appreciate the recent comments from shareholders who have questioned the recent share price decline and appreciate the fact that you have managed to weather the storm to this point. There are many external factors that can contribute to such radical changes in the markets. Please be advised that there is no correlation between the recent share price activity and the continued development of our business and marketing plan. Regardless, our company will continue to keep our shareholders informed of our growth and development.
Please keep posted for upcoming news and details in the near future.
Management
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