MOYDOW MINES INTERNATIONAL INC.

Moydow Mines International Inc. is issuing a press release regarding recent market speculation at the request of market regulation services on behalf of the Toronto Stock Exchange and in compliance with the AIM Rules. As previously reported, the company has received unsolicited offers for its 2% net smelter return royalty on the Ntotoroso gold property in Ghana and has appointed Sierra Partners LLC of Denver as financial advisor to consider strategic options to maximize shareholder value and it has held preliminary discussions with third parties expressing an interest in a potential transaction with the Corporation. The company further brings to the attention of the market certain information made public by Newmont Mining Corporation. Newmont has made public the fact that it is evaluating the potential of an underground mining operation at its Ahafo Mine in Ghana, a portion of which concerns land over which the company holds a 2% net smelter return royalty.