MDN Inc.

MDN Inc.

June 12, 2012 08:13 ET

MDN Starts Drilling its Nikonga Gold Discovery

MONTREAL, QUEBEC--(Marketwire - June 12, 2012) - MDN Inc. ("MDN") (TSX:MDN) is pleased to report that today marked the start of a drilling program at its wholly-owned Nikonga property in Tanzania. The goal of the program is to test the strike and depth extensions of the gold-bearing intersections returned earlier in the year by holes NKD-02 and NKRC-14. The following results were reported in news releases dated March 1 and 27, 2012:

  • NKD-02: intersected 4.39 g/t Au over 26.0 metres, including intervals of 12.3 g/t Au over 4.2 metres and 10.9 g/t Au over 4.9 metres.
  • NKRC-14: intersected 14.5 g/t Au over 2.0 metres

The current diamond drilling program consists of 8 to 10 holes for a total of 1,300 metres. The results of drilling done earlier this year revealed two subparallel structures with high-grade gold, associated with a gold soil anomaly nearly two kilometres long. The drill results showed three styles of mineralization:

  • Quartz veinlets a clayey sediment,
  • Massive quartz-tourmaline veins, and
  • Quartz tourmaline veinlets in a quartz-feldspar porphyry intrusive.

"The presence of several styles of mineralization, the high grades, the consistency of the assays and the setting are all indications of a potentially significant gold-bearing system. Furthermore, the geological setting has similar features to the great mines of the Timmins camp, like Hollinger and Dome," said Marc Boisvert, MDN's Vice President of Exploration.

Ikungu: strategic partner

In parallel with this drilling program on Nikonga, mapping and soil sampling have been underway since April on new ground acquired by MDN to the east of the Ikungu property. The Ikungu mineralized zone has been outlined over a strike length of more than two kilometres and to a depth of 300 metres, making it without doubt one of the largest mineralized zones in Tanzania at an advanced stage of drilling. MDN is currently seeking a strategic partner to accelerate the Ikungu project's development.

The technical and scientific information in this press release has been reviewed by Marc Boisvert, engineering geologist and MDN's Vice President, Exploration, who is a qualified person as defined by National Instrument 43-101.

About MDN

MDN Inc. (TSX:MDN) is a mining exploration and development company with properties in Quebec and Tanzania. In Tanzania, MDN has a 30% participating interest in the Tulawaka gold mine, which produced over 84,000 ounces of gold in 2011, as well as two promising gold projects, Ikungu and Nikonga. In Quebec, MDN owns a 72.5% interest in Crevier Minerals Inc., which owns an NI 43-101 niobium-tantalum resource that is presently at the feasibility study stage.

Forward-Looking Statements Other than statements of historical fact, all statements in this release that address events or developments that the Company expects to occur are forward-looking statements. Although the Company believes that 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 the 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 as such, the forward-looking statements 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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