April 29, 2011 Medallion Resources Ltd. has elected to proceed with the option to acquire a 100% interest in the Red Wine Property in Labrador, Canada, and has negotiated with the vendor, subject to TSX-V Exchange (the Exchange) approval, an amended option agreement.
October 6, 2010 Medallion Resources announced that rare-earth-element (REE) assays have been returned for the samples collected during the company’s reconnaissance sampling program at its Red Wine heavy REE project in Labrador, Canada. The field crew collected 35 grab samples during a oneweek reconnaissance trip to the property. Nineteen of these samples contain the mineral eudialyte in estimates ranging from minor amounts to as much as 20%.
August 19, 2010 Medallion Resources received data from its recently completed airborne geophysical survey on the company’s heavy rare earth project in the Red Wine district of Labrador, Canada. The new data both expands and supports previous estimates on the area for rare earth mineralization.