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DELTA MINING AND EXPLORATION, CORP. LOOKS TO CONTINUE DIAMOND EXPLORATION IN SOUTH AMERICA

Lewisburg, KY.  -- July 27, 2004— Delta Mining and Exploration, Corp. (Delta) (Pink Sheets: DMXC) is looking to capitalize on the exciting climate for exploration in South America where the Company holds approximately 10,000 acres of exploration ground.  Initial exploration of the Independencia property in Bolivia has identified three known occurrences of alluvial diamonds (diamonds that have been eroded from one place and deposited in another) in the region where Delta controls their properties. 

The Independencia region has been subject to surges of alkaline magmatism in the form of syenites, alkaline gabbros, basalts, carbonatites, swarms of mafic to ultramafic lamprophyric dykes and breccias together with some petrographically identified kimberlites; all of which are precursors to successful diamond exploration.  It is these findings on the Independencia property together with the existence of alluvial diamonds that validate continued and more extensive exploration. 

The other target property is a little more speculative, but may represent a second “diamond line” similar to the Brazilian “AZ 125 lineament” that runs from Minas Gerais to Rondonia.  That “diamond line” contains most of that country’s diamonds, and it is the underpinning geology that makes Delta management excited to continue further exploration.  In addition to ground geophysics, some pyrope garnets, a major diamond indicator mineral, have been discovered.  Aeromagnetic surveys flown have produced clusters of bullseye dipole anomalies that may be indicative of kimberlites or lamprolites.  Recent computer modeling of airborne and ground magnetics data has revealed pipe-shaped sources providing specific exploration targets.

Delta Mining and Exploration Corp., http://www.deltamine.com: is a mineral exploration company with an extensive portfolio of diamond and gold properties throughout the state of Montana, and in Bolivia, South America.  Delta controls some 7,500 acres throughout Montana located within the Wyoming Craton where much of North America’s diamonds have been found.  Another 10,000 acres of prospective diamond and gold properties are controlled in Bolivia, South America. 

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act").  In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act.  Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements.  Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

ON BEHALF OF THE BOARD of Delta Mining and Exploration Corp.

Contact:
Alex Livak:  212-695-6041
Email: info@deltamine.com
Website: http://www.deltamine.com
SOURCE:  Delta Mining and Exploration Corp.