Current MEDINAH MINERALS INC. Update Some relevant to CDCH... some not.
JUAN JOSÉ QUIJANO FERNÁNDEZ
ABOGADO
Shareholder Update – February 24, 2010
Dear Shareholders:
I, Juan José Quijano Fernández, President, wish to inform you of ongoing activities in Chile.
A. Status of negotiations on Joint Venture Agreement on Alto de Lipangue
Each of the following major international companies have been actively involved in complete due diligence, negotiations, and the presentation of proposals for the last several months.
1. South America. One major interest party has visit the Lipangue property numerous times and is working on a proposal for us. I plan to further meet with him this week to learn more about this proposal for Lipangue. I know this party very well and we have done many things together in the past times.
2. South America – USA. Through the lawyer company we are talking with a very important investment group. The geology visit Lipangue and we are waiting the last trip to the claims recommended to receive the option offer. One of the lawyer is going to Texas in the week because there takes the decision. The other partner is now in Chile talking with us to wait this group.
3. South America – USA. Through the same lawyer company arrive to Chile the geologist consultant. He is working in the positive report for the company that he represent. They visit Lipangue Wednesday and friday (include visit to the course drilling).
4. USA Geologist. One of the most important in South America. He visit Lipangue first week of February 2010 and do a revision of the course (drilling). He confirm that we have a porphyry and he will return in March to complit the geological work in claims and do a proposal.
5. European/Canadian. They are in Europe at the moment and returning to Chile March 10. They visit Lipangue several times with important gold experts.
6. Chile National. Negotiations for last two months working on a three-year option.
7. Several of the companies are partners working together.
B. Las dos Marias Project
We do a lot of visit and technical work. The last decision is not to do a vertical tunnel of 70 meters over the high grade (drill No 2 between 68 to 70 metters) or to came per horizontal tunnel from the north big creek located 350 metters to the north. We will begin a tunnel with a 25% inclination that will permit to cross the drill No 1 (sector o value) and to go to the drill No 2 at 70 metters deep (sector of value). This inclinate tunnel will have around 140 metters and permit to begin gold production in late April 2010. The bulldozer Cat will be working in three days more.
C. Pumillahue – Madre de Dios Project
The Company will complit the last metters of the exploration and vertical tunnel in sector C 3. This third tunnel is located at two kilometer to the east of the first one. In this form the company will proof the long of the paleo channel in this zone and the gold reserve. Will be finish in April, 2010 and the company will be able to star in production.
D. POLO Gold – Copper – Molibdem Project
Located in the “Andes Mountain” in the VIII BIO BIO REGIONA, at 550 Km to the south from Santiago. We will continuos the geology in march 2010. We have different tunnel and surface mineral alteration. In march we are expecting the visit of one mining company.
I requested Directors of Medinah Minerals, Inc. and Medinah Minerals, Chile to assist me in Santiago, Chile in the first week of March. I plan for their trip with all available materials to review so to assist with Venture negotiations.
Thank You,
Juan José Quijano Fernández
