News
CEO for Delta Mining
and Exploration Addresses the Current State of the Company
NEW YORK, May 30 /PRNewswire-FirstCall/
-- This is a statement from Mr. Brett Rodli, CEO of Delta Mining and
Exploration (OTC: DMXC):
Management for Delta
is excited about the prospects of the company given the positive
results from the last round of exploration and the plans for the
properties in the coming months. A proposal has been prepared by
Apex Geoscience that not only provides the necessary costs to
complete the bulk sampling of the Homestead property but also lays
out the specific details of how this will be accomplished.
Although Delta
controls a number of properties, the most recent stage of
exploration identified the Homestead property as the target with the
greatest potential for success. As Delta is still in the exploration
stage we have chosen to first explore this target and then pursue
the others at a later date. Also, we are in the final stages of
negotiations that will allow Delta to move forward unencumbered with
respect to future exploration.
We chose Apex
Geoscience because they are the leaders in their field; they are one
of the top diamond surveying companies in North America with
expertise and credibility that will allow us to better position
ourselves for further development of our properties. We are very
pleased with their performance and will continue to utilize them for
future exploration.
The reverse-split of
our stock which occurred on May 4, 2007, was completed to better
position the company for future fund raising activities and
potential merger and/or joint venture opportunities. The perception
of being a sub-penny stock with an excessive number of shares on
issue needed to be addressed. It is the opinion of the entire
management team and the independent consultants working with Delta
that the new structure is infinitely more attractive to the
investment community.
With activity
expected to increase on the properties, Delta has decided to move
its office to Missoula, Montana. The new location will be a short
drive to the properties, and a few hours drive to Edmonton, Alberta
where the offices of Apex Geoscience are located. Many inquiries
have come from Canada, and an office in Missoula allows us to react
quickly to these potential opportunities.
Finally, the majority
of the management team has been with the company since its inception
and is excited about the future. We hope that the current
negotiations for additional funding and/or a joint venture partner
will allow Delta to move forward with exploration while providing
maximum value to its shareholders.
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. Delta controls some 7500 acres
throughout Montana located within the Wyoming Craton where much of
North America's diamonds have been found.
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
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