Medinah Minerals (MDMN)

[jetpilot1101]

With all due respect, that is a very poor excuse and quite frankly, you as a shareholder deserve much more from your management team.

Industry Guide 7 does not define resources but it does define reserves.

http://web.cim.org/standards/documents/Block474_Doc32.pdf

NI 43-101 defers to CIM

http://www.osc.gov.on.ca/documents/en/Securities-Category4/rule_20051007_43-101_sd-mineral-projects.pdf

http://web.cim.org/UserFiles/File/CIM_DEFINITON_STANDARDS_Nov_2010.pdf

CIM defines a reserve as:

A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined.

A reserve requires at least a preliminary feasibility study. MDMN has never done anything remotely close to a feasibility study. Clearly they do not have any "reserves" according to the legal definition.

So lets assume they were "naive" and meant infered mineral resource which is about as low as you can go.

This term is defined as:

An Inferred Mineral Resource? is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

I don't even think they meet this criteria given that their techniques are poorly explained, the data is not presented in any sort of scientific or logical way and from what I can gather from "official" company correspondence, there is no documented chain of custody.

It is troublesome that they specifically used "reserve" twice in their latest PR even though JJ, Les and the rest of the crew are touted as highly knowlegable of the mining industry. They have been kicking rocks around for 24 years and they don't know basic terms that legally, are incredibly important. It took me roughly an hour to find all the definitions/pubs I needed on the internet and place a call to a geologist to explain the parts I didn't understand. That was two years ago. Find another excuse/explanation, naivete won't cut it with me and it shouldn't cut it with you.