SOURCE: Delta Mining and Exploration

April 24, 2008 09:00 ET

Delta Mining and Exploration Issues Corporate Update

MISSOULA, MT--(Marketwire - April 24, 2008) - 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, 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.: 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
    Email Contact