News

LEWISBURG, Ky., Jan 20, 2005 /PRNewswire-FirstCall via COMTEX/ -- Delta Mining and Exploration Corp. (OTC: DMXC) is pleased to announce that the Board of Directors have been reappointed for another full year. Dr. Barry Rayment will stay on as an Executive Director and Chief Executive Officer.

Keeping the Board intact provides Delta with much needed stability at this important juncture of the company's growth. All the Board Members along with Dr. Rayment are extremely excited by Delta's prospects and are all looking forward to a successful year.

Furthermore, Delta is working diligently in securing a financing agreement; it is expected these efforts will be brought to a successful conclusion shortly. Proposals and negotiations previously disclosed by the company have not come to fruition causing the delay. Most recently, the company has been in discussions with an investment group since the beginning of December. The parameters of a deal are in place, and will hopefully be completed in the near future.

Arrangements have been made with a highly experienced diamond exploration consulting group to begin work on the Homestead and surrounding properties as soon as funds are secured. The company is still on schedule to do further exploratory work this winter.

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 8000 acres throughout Montana located within the Wyoming Craton where much of North America's diamonds have been found. A further 10,000 acres of prospective diamond properties are controlled in Bolivia, South America.

NOTE: Safe Harbor for Forward-Looking Statements.

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.

SOURCE Delta Mining and Exploration Corp.