April 08, 2015 at 15:00
AURYN Mining Chile SpA reports that the offer made by AURYN Holdings Corporation, our parent company, to purchase 350 million shares of common stock of Medinah Minerals Inc. in a private transaction as announced on February 4, 2015 has been rejected by the owners of the share certificates.
The failure of the proposed share purchase will have no impact on AURYN´s business plan of aggressively exploring the Altos de Lipangue properties to unlock their mineral wealth. The Company is using a multidisciplinary approach including prospecting, geological mapping, geochemistry and geophysics to identify new targets while continuing the planned drill programs on the Gordon Breccia, the Dos Marias skarn and the high grade gold veins at the Fortuna Mine. The program is designed to be completed within the time frame of the option agreements with Medinah Minerals Chile on the Altos de Lipangue concessions, with NUOCO on the Mambo-Colombo-Dos Marias concessions and with Cerro Dorado Chile on the Fortuna mine concessions.
The taxes for the financial year 2015 were paid on March 31 by AURYN Mining Chile SpA, for all of the mining claims (7,803 hectares) held under the three option agreements.