News

Delta Mining and Exploration Receives Funding for Continued Exploration

LEWISBURG, Ky., July 16 /PRNewswire-FirstCall/ -- Delta Mining and Exploration Corp. (OTC Bulletin Board: DMXC) is pleased to announce that it has agreed to terms with a private funding company and is scheduled to receive up to nine hundred thousand (US$900,000) dollars in cash. These funds will be fully utilized for the third phase of exploration.

Management is very excited about this development since it will be able to continue on to the Phase 3 while retaining full control over the company. Delta had been actively seeking a joint venture partner to share the costs of the project but was able to secure enough funding to continue on their own.

A work program is currently being negotiated with Apex GeoScience who performed the first two stage of exploration for Delta and determined that a bulk sample was necessary. Based on the Phase 2 reports, Apex has recommended a program of sampling for macro-diamonds utilizing large samples (30 tons) on the Homestead, Three Buttes, Teigen Butte and Rattlesnake Butte targets.

About Delta Mining and Exploration, Corp: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in the state of Montana. Delta controls some 7,500 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.