SOURCE: Delta Mining and Exploration

May 01, 2008 09:00 ET

Delta Mining Acquires Mineral Rights to Homestead Target

MISSOULA, MT--(Marketwire - May 1, 2008) - Delta Mining and Exploration Corp. (PINKSHEETS: DMXC) is pleased to announce the purchase of 100% mineral rights to one parcel of the Homestead target, and 50% to two parcels also comprising the Homestead target.

The Mineral Rights (Mineral Deed) grants a 2% net returns royalty to the Grantor for 100% mineral rights, and 1% net returns royalty to be paid to Grantor for the 50% mineral rights. Mineral Rights include all precious metals, mineral aggregates and metals containing diamonds, gold, silver; along with other precious metals, gems and gemstones, and any useful rare earth minerals, excluding oil and gas, and sand and gravel.

Delta also has an agreement in place for the right to purchase the remaining mineral rights of the two parcels mentioned above.

Mr. Brett Rodli, President and Chief Executive Officer of Delta Mining stated that the "purchase of the mineral rights gives Delta Mining an ownership interest in the property and a tangible asset that will further secure the Homestead property and its future development."

About Delta Mining and Exploration Corp.: 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 Information

  • Contact:
    Brett Rodli
    Chief Executive Officer