MDN Inc.
TSX : MDN

MDN Inc.

November 02, 2009 10:14 ET

MDN Inc.: Preliminary Results on Tulawaka's Underground Drilling

Drill hole TUGD65 averages 7.37 g/t Au over 10.1 m

MONTREAL, QUEBEC--(Marketwire - Nov. 2, 2009) - MDN Inc. ("MDN") (TSX:MDN) is pleased to provide an update on an underground drilling program at the Tulawaka gold mine in Tanzania. These preliminary results are encouraging and MDN believes they warrant the continuation of further underground drilling.

In February 2009, underground drill stations were positioned in the western part of the mine in order to initiate an exploration program consisting of 33 holes for a total of 2,179 meters. MDN expects that the updated 2010 mining plan and budget should be approved in the coming weeks.

The drilling program was completed before the end of the first semester of 2009. Because of the very positive results, it has been first extended until September 30, and extended once more for a period of three to four months for the same reasons.

"Based on these preliminary drill results, MDN believes that the life of mine of Tulawaka will be extended", said Paul-A. Girard, President and CEO of MDN.

The table below details the underground drill results done during the first semester of 2009, although the program is continuing and the results will be part of the mineral reserves calculation at year-end. The right-hand side column shows the distance along the drill holes. The collars of the drill holes were located at vertical depths between 137 to 177 m.



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Holes Gold (g/t) Width (m) From (m)
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TUGD33 5.99 2.00 92.00
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1.81 3.00 121.00
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TUGD34 17.10 1.00 16.85
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TUGD35 2.71 1.40 11.50
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TUGD36 41.30 1.00 12.50
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TUGD37 5.90 1.00 7.50
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TUGD39 28.30 0.50 34.30
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TUGD41 1.16 3.00 42.00
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2.68 4.00 80.00
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2.94 2.00 100.00
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3.93 2.00 105.00
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TUGD42 30.27 2.00 34.60
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3.25 1.00 60.60
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TUGD43 2.91 2.00 37.50
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1.41 2.00 65.50
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TUGD44 5.83 1.00 69.10
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TUGD45 2.51 2.00 112.80
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TUGD46 3.03 0.50 57.60
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4.43 1.25 64.85
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TUGD47 1.51 1.00 49.50
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3.18 0.80 52.50
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TUGD49 6.43 5.00 25.55
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TUGD50 15.57 5.50 22.20
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16.70 0.60 28.20
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TUGD51 5.77 3.60 26.50
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TUGD55 21.43 2.00 6.20
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4.66 0.75 21.00
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TUGD56 9.45 3.20 54.50
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16.65 4.00 59.00
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TUGD61 16.71 2.90 21.00
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TUGD64 4.15 1.50 16.60
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TUGD65 7.37 10.10 13.20
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TUGD66 26.85 2.50 14.00
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8.63 4.80 20.90
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The underground production at the Tulawaka gold mine is currently located in the central part at level 1,065m, whereas the underground drilling program is undertaken in the western part, at levels 950m and 1,050m (please refer to the longitudinal diagram available at the following address: http://media3.marketwire.com/docs/TulENG1104.pdf).

All technical information in this release has been reviewed by Marc Boisvert, Engineer and Vice President Exploration of MDN, serving as a qualified person in compliance with National Instrument 43-101.

The Tulawaka project is a joint-venture between MDN (30%) and Pangea Goldfields Inc. (70%), a wholly owned indirect subsidiary of Barrick Gold Corporation and project operator through its Tanzanian subsidiary Pangea Minerals Ltd. The drilling results disclosed on the Tulawaka Gold Mine are based on information provided by the operator.

About MDN

MDN is a mining exploration and development company having adequate financial resources to develop its very promising projects in Quebec and in Tanzania and to search for new business opportunities that can raise shareholder value. In addition to its 30% participation in the Tulawaka gold mine, MDN is the operator and owner of a majority interest in 35 mineral licenses totalling 621 square kilometres around the Tulawaka gold mine in Tanzania, and owns a 28.75% interest in a property with a NI 43-101 niobium and tantalum resource located in the Lac St-Jean area of Quebec.

Forward looking statements

All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements are discussed in greater detail in the Company's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the factors mentioned in the Annual Information Form as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

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