Medinah Minerals (MDMN) - 2017 Q1General Discussion

Quite frankly, since this is taking so long, I’m starting to wonder if something might be wrong. I keep reading from guys I perceive to be in the know that we must keep in mind that maybe things didn’t turn out as well as we thought, which concerns me.

Medinah Reaches Settlement Agreement with Shareholder

January 30, 2017

Medinah Minerals, Inc. (OTCMARKETS: MDMN) is pleased to announce that its aggressive investigation and legal action against Les Price, Pamela Fitzpatrick, MMC Mines Inc, GXK Ventures Inc, et al. has resulted in a settlement agreement with one of the purchasers of shares in the “scheme” referenced in the lawsuit.

This agreement has resulted in the return of the following amounts of stock to Medinah:
•127,000 preferred shares, convertible to 127,000,000 shares of common stock, and
•57,000,000 common shares.

In addition, the agreement calls for the return of an additional 10,000,000 shares of commons stock once Medinah reaches a share price of $0.025 per share.

With the return of stock, the parties involved in the agreement hold each other harmless for all actions related to the purchase and cancellation of these shares. In addition, the purchaser has agreed to fully cooperate with the company’s investigation by providing background information and turning over all documents and correspondence related to their purchases of Medinah stock.

Submitted by the Board of Directors

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The first crack.

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I wonder who returned them?

Altos de Lipangue Project Update
January 30, 2017 @ 9:00 am
AURYN is pleased to provide the following update regarding its mining operations on the Altos de Lipangue project.

Highlights

Visual Aids
AURYN receives liquidation from first test shipment
AURYN opens up a 42m section of high grade vein in the Larissa Tunnel
Representatives from Freeport-McMoRan visit the ADL
Dr. Raymond Jannas to assist Maurizio Cordova and AURYN as a geological consultant
District-wide Analysis Planned for February
The full update is available on our website.
ADL Project Update - January 2017 | AURYN Mining Corporation.

Copyright © 2017 AURYN Mining Chile SpA, All rights reserved.
You are receiving this email because you opted in to receiving updates and communications from AURYN Mining Chile via our website.

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ADL Project Update – January 2017
January 30, 2017 @ 9:00 am
AURYN is pleased to provide the following update regarding its mining operations on the Altos de Lipangue project.
Highlights
Visual Aids
AURYN receives liquidation from first test shipment
AURYN opens up a 42m section of high grade vein in the Larissa Tunnel
Representatives from Freeport-McMoRan visit the ADL
Dr. Raymond Jannas to assist Maurizio Cordova and AURYN as a geological consultant
District-wide Analysis Planned for February
Visual Aids
The maps below provide a visual overview of the Larissa Tunnel. The first one gives the perspective of looking down on the mountain from the sky. The second one provides a lateral view. The blue area is Level 2. This is a previously mined area that is still being investigated and mapped. The red area is the Larissa Tunnel or Level 3.
The entrance to the Larissa tunnel is on the north side. To intersect the vein we expanded the Larissa Tunnel approximately 90 meters toward the southeast. The vein was intersected in the vicinity of topographical point LC-3.
ADL - Larissa Above
ADL - Larissa Side
AURYN receives liquidation from first test shipment
On January 13, 2017, AURYN received a liquidation from ENAMI for its first test shipment. ENAMI received the shipment of approximately 12.4 tons of ore on December 26, 2016. The ore returned grades of 11.5 gpt of gold, 31 gpt of silver, and 1.62% copper.
Four additional truckloads containing 63.6 tons of ore from the same section of the vein were sent to ENAMI for processing. The last one was sent on January 9th, 2017 closing out that order. We expect the results will be similar to the first shipment.
These initial shipments of ore were extracted from a 28 meter section of the vein between LC-3 going south toward LC-6. Although the results are slightly below the modeled grade of 15 gpt gold equivalent, they are economical and very encouraging given our stage in the project development.
AURYN opens a 42m section of high grade vein in the Larissa Tunnel
Vein - Intersection 2Ore was extracted from the Larissa Tunnel until the LC-6 vicinity. At that point the vein disappeared and reappeared approximately 4m later. It’s reappearance visually appeared to indicate an increased level of mineralization.
We have spent the last two weeks expanding the tunnel toward the southwest keeping the vein on the west side of the tunnel. We have left the vein mostly unexposed so that we can define the boundaries of this section of the vein without having to extract, sort, and stockpile the mineralized sections of ore. Every several meters we have been taking samples and verifying that the vein is still on the west side of the tunnel. Sample results indicate the grades are higher than the test production runs which were sent to ENAMI.
We expect that this intersection extends vertically at least 30 meters in each direction with similar grades and width. Our speculation is that this vein is not the same vein that we uncovered in September on level 2. The vein on level 2 returned bonanza grades which we reported on at the informational meeting. However, further exploration and analysis is necessary to make a conclusive determination.
Representatives from Freeport-McMoRan visit the ADL
At our informational meeting we indicated that we entered a Confidentiality Agreement with Freeport-McMoRan. In the middle of January representatives from Freeport-McMoRan spent several days on the property to begin their evaluation of the project. This involved touring all known targets for the entire project and taking samples. Freeport-McMoRan will evaluate their findings over the coming weeks.
Although we are encouraged by Freeport-McMoran’s interest in evaluating the project, shareholders should not assume this will lead to a joint-venture agreement. There is still much work to be done, and other companies have also expressed interest in visiting the project as AURYN continues its exploration efforts.
Dr. Raymond Jannas to assist Maurizio Cordova and AURYN as a geological consultant
Maurizio Cordova, Executive Chairman of AURYN Mining Chile, SpA, has engaged Dr. Raymond Jannas to serve as a geological consultant for the next six months. This will include a significant amount of work evaluating all the targets on the ADL Project including, the Pegaso Nero, the Las Dos Marias, and the Fortuna targets.
Dr. Raymond Jannas is Independent Director at Regulus Resources, Inc., Independent Director at Revelo Resources Corp., and President at Gexsa Ltda. He is on the Board of Directors at Regulus Resources, Inc. and Revelo Resources Corp.
Dr. Jannas was previously employed as Vice President-Exploration & Geology by Hochschild Mining Plc, Chief Executive Officer by Minera Fuego Ltda., and a Manager-South America Exploration by Gold Fields Ltd. He also served on the board at Iron Creek Capital Corp. and Southern Legacy Minerals, Inc.
Dr. Jannas received his undergraduate degree from the University of Chile and a doctorate degree from Harvard University.
District-wide Analysis Planned for February
Dr. Jannas will work with other mining engineers, geologists, and consultants during the month of February to help AURYN determine the best strategy for expanding and developing the project. This involves
uncovering the full length of the 42m intersection of the main vein and taking 20 samples for a detailed analysis,
continuing the mapping and evaluation of levels 1 and 2 in an effort to further understand the vein’s behavior and the topography, and
beginning exploration and analysis on the Fortuna and the Las Dos Marias targets.
This effort will help us refine our business plan as we consider the development of the entire project, including the possibility of bringing on additional partners for the porphyry targets.
The information in this notification contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
The Company’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances.
Investing in specific mining companies is filled with company risk and geological risk. If you cannot tolerate these kinds of risks, please consider another investment.

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Another great update! Thank you Auryn and Medinah!

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So that is about 12% of the 1,5 B illegally issued, Now if they can do that about 9 more times we are set!.Then if you add in what Chapin and Vittal returned (not a part of the Illegally issued shares) we get about 300 M shares returned so far or about 20%. I would say a nice start!

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184,000,000 shares @ today’s price is about 1.2 million…

Way to go Kevin!! Keep up the good work!

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Very pleased with this morning’s update! Also pleased that Auryn seems to be still following a monthly update schedule so we can feel relatively comfortable when to expect the next one.

I am glad that Auryn confirmed that the World’s largest public copper Company is interested in the Alto!

Finally, those bonanza grade veins are now so close to being exploited that one can almost taste success! :slight_smile:

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I guess people missed this …

“Representatives from Freeport-McMoRan visit the ADL
Dr. Raymond Jannas to assist Maurizio Cordova and AURYN as a geological consultant
District-wide Analysis Planned for February”

and then they tell us this so we won’t run with excitement but we all know that we will have a future partner only a matter of time.
“Although we are encouraged by Freeport-McMoran’s interest in evaluating the project, shareholders should not assume this will lead to a joint-venture agreement”

First, a good job thank you to Kevin. Thank you for your efforts to stay on top of this mess and your continued efforts to get MDMN back to its proper value. We would be in significantly worse shape without your work.

I would like to highlight a portion of MDMN’s recent announcement.

IMO, this portion of the announcement provides the best news we have had so far of a quick resolution of the improper share issuance scheme. I have stated in the past, MDMN and its attorneys need to hit everyone involved hard and then go to the persons/entities involved with Les Price and the real crooks and offer them a deal. The deal would be a little pain now and cooperate with us to go after the real crooks, or a lot of pain later by being lumped in with the real crooks. This announcement means MDMN has gotten the first taker of this strategy. The importance of getting the first party to settlement cannot be overstated.

MDMN will now have quick access to the direct communications coming from the real crooks. They will have quick access to the actual methods used by the real crooks to complete the scheme. And, they will have a party who has an incentive to cooperate with MDMN in the interpretation of the communication and methods used. Since they can now follow a money trail, they should be able to quickly determine where the real crooks transferred the ill gotten gains through subpoena. Once they have determined the trail, they will now be able to target directly, through Temporary Restraining Order or Preliminary Injunction and freeze the real crooks assets as they can show where the money went; and, potentially, freezing brokerage accounts into which the improperly issued shares were delivered.

Further, once they get access to the real crooks account records, they can then trace back other transactions and identify the other John & Jane Does who worked with the real crooks. Once they identify these other John & Jane Does (or even the ones they have already identified who have not responded back yet), MDMN now can go to these parties and state, guess what, Company XYZ has settled and they are agreeing to cooperate fully and disclose everything they know. Its time for you guys to begin working with us. We now have access to the crooks records and you are in them. Its time for you to sit down with us and lets us know how you were involved in this transaction. If you were taken advantage of by the real crooks, we can work with you like we did with XYZ. If you choose not to work with us, then we will continue to move forward against you as a willing participant in the scheme. Your time is running out, we will soon be actively moving to enforce and protect MDMN’s rights. You are either working with us or you are against us.

MDMN now has leverage against these other parties as the other parties do not know the extent of MDMN’s knowledge. The other parties do know MDMN will work with a third party because the third party did get some benefit from the settlement with XYZ. If they do not sit down to settle now, they could really be hurt later. IMO, having this first settlement will result in a decent number of other settlements happening relatively shortly and a big claw back of shares. I feel very happy about this announcement and what it holds for the future of resolving the litigation in a timely manner for the benefit of MDMN.

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Great post jak167!

Nows the time to start buying back the shares they sold while the price is still cheap and return them back to Medinah.

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Everyone involved is a “real crook”. Those closer to the center of the issue are just bigger crooks.

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Unfortunately, IMO not necessarily. IMO, you have two types of third parties involved. One, a third party who was just greedy and made “deal of a lifetime” transaction, assuming the details wouldn’t come to life. Second, a third party who had direct knowledge of the scheme and willingly participated in it (most likely insiders with Les Price).

RE the first type, I posted previously a third party should have realized they were getting a “deal of a lifetime” and therefore should have realized the party(ies) from whom they were purchasing shares were doing something improper or illegal; however, even with this knowledge, it does not mean the third party had the intent to defraud MDMN and participate in the scheme. They were just being greedy. MDMN would have to prove they had directly knowledge of the scheme and they were a willing participant to secure liability against the third party to MDMN. I have no doubt MDMN can reach this level of proof against some third parties, but most likely not all. If MDMN can not reach this level of proof, then the would most likely have to fall back upon the fact the third party could not prove they were a bona fide purchaser for value due to their knowledge it was a “deal of a lifetime”. This position would result in the third party having to forfeit the stock and gains they received through the transaction and would allow the third party to make a claim against the real crooks for redress; but MDMN would not necessarily secure punitive damages against this type of third party.

The second type as knowledgeable and willing participants, I would definitely lump into the real crooks category. So I wouldn’t call them all crooks. Crooks on the second type; however, I would call both types unethical, greedy, scumbags and I hope MDMN can squeeze them for all they’re worth, making them hurt. MDMN is targeting the first type to try to get the settlements. And, IMO, even though the first types should be held liable as crooks, I think MDMN trying to flip these first types to our side will benefit MDMN RE the litigation and getting shares clawed back in a timely manner without years and years of litigation and related expenses.

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In the end, it’s not going to be worth flipping lower-level defendants if we later find out the higher-level defendants don’t have sufficient assets from which we can execute or they have their assets in places where we can’t get them (e.g. offshore - c.f. the Anderson case, and others - yes, plenty of people would do a year in prison if the money is right). It seems to me that since we are spending money on attorneys we might want to have a HIGH LEVEL of confidence on this issue. I don’t know these people. Does anybody else know whether these folks have money/assets and where such money/assets are located?

I have no idea where Les has hidden his money. But many years ago, Les told me it was easy and would show me how to set up off-shore accounts. That was during the wild west days of the canadian market. I just listened to his bravado at the time. I think one place to “look” (since he was so taken by Ulander), would be the Cayman Islands.

Another gem: “beginning exploration and analysis on the Fortuna and the Las Dos Marias targets” …to finally begin in February.

The new consultant… Dr. Raymond Jannas certainly knows his stuff and is the author of a number of publications.

https://www.researchgate.net/profile/Raymond_Jannas/publications

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By returning them, they confess, so they are guilty.

Great news this morning, things are going very well in Medinah land.