News
Delta Mining
and Exploration Issues Corporate Update
MISSOULA, MT -- (MARKET WIRE) --
04/24/08 -- Delta Mining and Exploration (PINKSHEETS: DMXC) is
pleased to provide the following company update.
Due to unforeseen delays, the
kimberlite and mantle xenolith samples collected from the 30 tonne
bulk sampling program have not been analyzed as quickly as the
company had anticipated. Currently, all samples are in the
Saskatchewan, Canada, safely stored in the laboratory's secure
storage facilities. As soon as the remaining issues are resolved and
the analysis completed, Delta Mining will provide a summary report
to the public.
Also, Delta has engaged
PinkSheets.com, and is working to comply with Pink Sheets'
requirements necessary to change the current designation. Due to the
bulk email dissemination last year that was neither sent nor
authorized by the company, Pink Sheets penalized Delta Mining with a
negative designation. After consulting with Pink Sheets, the company
retained a law firm and an accounting firm in order to complete all
documentation required by Pink Sheets. Once the process is complete
Pink Sheets will upgrade the designation whilst Delta will be able
to provide greater corporate transparency.
Management also believes that this is
an important step towards reversing the trend of the current stock
price. Unfortunately, the current designation continues to have a
negative impact on the company and undermines its credibility.
Therefore Delta has been working diligently over the past two months
toward upgrading the designation in order to provide corporate
transparency as well as restoring public confidence. The company is
hoping that within a few weeks the required documents will be
submitted and the designation will be updated.
About Delta Mining and Exploration
Corp.: http://www.deltamine.com:
Delta is a mineral exploration company with an extensive portfolio
of diamond properties in central Montana, USA. Delta controls some
7,554 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.
Contact:
Brett Rodli
Chief Executive Officer
406-214-4579
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