Medinah Minerals (MDMN)

[hrdl]

New update on AURYN site. It sure looks like they intend to exercise the option.

http://aurynmining.com/media/

Auryn Mining Chile (private)
Has consolidated ownership over the Altos De Lipangue project in the Metropolitan Region with three acquisitions. The company has acquired 85% of the outstanding shares of NUOCO (LDM), effectively exercising the corresponding mining operation agreement, and 100% of the Fortuna and Lonco Millareupu mining properties that cover the Fortuna de Lampa mine. Auryn also acquired Minera Mantos Azules Chile, which holds permits to produce up to 5,000tpm from high-grade veins from the Caren mine on the site. Executive Chairman Maurizio Cordova revealed that a team of mining engineers is travelling to Santiago in February to begin preparation and design work for starting production. Recent gravimetric fire assay results confirmed results of up to 124g/t Au on samples from the Merlin I vein in the Caren mine sector. "These important results in precious and base metals encourage the company to advance in the early production evaluation opportunity," Auryn said. Following these recent acquisitions, Auryn has one pending option agreement with Medinah Mining Chile. "Adding over 3,000 hectares of ownership to the AURYN Mining Chile SpA portfolio is an exciting step forward for AMC...” We expect it to be cash flow positive that will supplement AMCs exploration efforts and ultimate exercise of the JV Mining Option Agreement with MMC," said Cordova.