LAS VEGAS--(BUSINESS WIRE)--Medinah Minerals, Inc. (Pink Sheets: MDMN) today announced that its Chilean subsidiary, Medinah Mining Chile, has accepted a joint venture offer with regard to the Altos de Lipangue group of claims in Chile.
Medinah Minerals, Inc. officials will travel to Peru and Chile on June 23 to meet and perform due diligence as to the joint venture terms and conditions, and to determine timeline exploration development responsibilities of the respective parties. These steps will be undertaken to legalize the contract in compliance with Peruvian and Chilean mining laws.
Medinah Minerals, Inc. board member Jose Roberto de Romana Letts disclosed that he is an affiliate of the joint venture entity in question and recused himself from these negotiations.
A report of the final agreement details will be released subsequent to the visits to Peru and Chile.
Additional company information is available at www.medinah-minerals.com.
On behalf of the Board of Directors,
Juan Jose Quijano Fernandez
Chairman/President - Medinah Minerals, Inc.