News
EXPLORATION
AND MINING TAKES OFF IN NORTH AMERICA
Lewisburg, KY.--
July 29, 2004— Delta Mining and Exploration Corp. (Pink Sheets: DMXC),
continues to be encouraged by the growth in exploration and mining
activity in North America and the resultant support for these ventures
from within the financial community.
Diamond exploration
in North America has experienced a resurgence recently and
extraordinary returns on investment have been achieved over the past
few years by junior Canadian companies such as Dia-Met Minerals (Ekati
Mine with BHP), Aber Resources (Diavik Mine with Rio Tinto) and
Winspear Resources (Snap Lake Mine with De Beers). These companies
started out as small exploration companies and are now considered
industry leaders.
Delta is one of the
few US-based diamond exploration companies and offers a unique
opportunity to repeat this type of success with its existing large
portfolio of quality diamond properties and the exploration potential
of the under-explored and highly prospective regions of Montana and
Bolivia. This potential was recognized by Platinum Equity Funding,
Inc with their recent commitment to invest at least $500,000 for
continued exploration.
According to the
World Diamond Council, “Rough diamond mining companies produce
annually some 114 million carats of rough, worth some $6.8 – $7
billion, providing meaningful livelihood to some two million people
working in the various stages of mining, processing, distributing and
retailing, enabling the annual sale of some 67 million pieces of
diamond jewelry worldwide. With new mines coming on stream, others
being expanded and some being closed, it is expected that by the year
2005 world production may increase to over 120 million carats worth
some $8.9 – $9.2 billion.”
About Delta
Mining and Exploration, Corp:
http://www.deltamine.com:
Delta is a mineral exploration company with an extensive portfolio of
diamond properties in Montana, USA and in Bolivia, South America.
Delta controls some 7500 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 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: 917-731-0215
Email:
alivak@deltamine.com
Website:
http://www.deltamine.com
SOURCE: Delta
Mining and Exploration Corp. |
