03:43 PM EST - MDN Inc. : reported that it has received a request from Metalinvest Capital Corporation ("Metalinvest") for an extension to May 13, for the transfer to MDN's account of the funds required to start the initial exploration program on the Ikungu property in Tanzania. MDN has granted Metalinvest the extension. On February 25, MDN announced the signature of an agreement with Metalinvest providing for MDN to transfer a 55% undivided interest in its interest in the prospecting licences of the Ikungu property to Metalinvest. To maintain its 55% undivided interest in MDN's interest in the Ikungu property, Metalinvest must incur US $14 million in exploration expenditures over a four-year period, including $3 million U.S. by December 31, 2013. Metalinvest may accelerate exploration spending at its discretion. MDN will manage the exploration work. MDN Inc.
shares T.MDN are trading unchanged at $0.05.
