Medinah Minerals (MDMN)

[RD759]

The Perez report is not enough to identify drill targets. Satellite imagery is simply that, an image, without any attendant geochemical data. It can highlight geological structure and alteration haloes, which can be of value in looking for areas of interest, but these sites then need to be investigated directly by physical means to ascertain any metal tenor.

The Perez report is a product of its time and such a report, containing such forward looking statements as 'world class deposit' could not be written today; not without the verified and audited data to back that statement up.

The preferential terms I was referring to reflect the fact that aside from the claims MDMN is bringing a minimal amount of quality data to the table, so a JV partner will be able to use its data acquisition capabilities (surveys, drilling, etc) to maximum effect in negotiating the most favourable terms should anything be found, and to walk away with no liabilities should things not come up to their expectations; indeed they may even retain the data in any eventuality and keep it in-house unless MDMN pays for it.