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Delta Mining and Exploration Corporate Update

LEWISBURG, KY -- (MARKET WIRE) -- 07/01/10 -- On June 17, 2010 the Securities and Exchange Commission ("SEC") suspended trading for 10 business days in Delta Mining and Exploration (PINKSHEETS: DMXC) stock and ordered an administrative proceeding pursuant to Section 12(j) of the Securities and Exchange Act of 1934.

According to the SEC, a company by the name of American Golf Management has been delinquent with periodic filings since February 8, 2000. The SEC argues that Delta bears responsibility for continued filings even though American Golf Management legally dissolved in 2001.

Delta strongly disagrees with the claims the SEC has made and filed an answer on June 29, 2010 defending its position that it acted in full compliance and in good faith with the SEC since it went public in 2004, including but not limited to the numerous filings the company has made with the SEC as a non-reporting entity, and offered full transparency to its investors by filing quarterly financial reports on OTC Markets (www.Pinksheets.com).

However, even as the 10 day suspension ends, the company will not be able to trade on the Pink Sheets until a resolution is reached. An administrative hearing is scheduled for July 14th, 2010 in Washington DC.

In the meantime, work continues on the Delcer Buttes property in Elko Country, Nevada. The induced polarization survey should be completed soon and mapping and sampling will start immediately thereafter.

Delta Mining & Exploration, www.deltamine.com, is an emerging exploration company locating mineral and precious metal deposits in the mining rich regions of North America. The Company currently owns mineral rights to land in central Montana as well as the rights to 31 claims on 680 acres in Elko County, Nevada.

(SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS -- The statements which are not historical facts contained in this news release are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, exploration activities, the impact of competitiveness, the effect of economic conditions and other

 
 

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Certain statements contained herein constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.

 

    
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