Delta Exploration Inc.
TSX VENTURE : DEV

Delta Exploration Inc.

April 02, 2007 12:29 ET

Delta Announces Non-Brokered Private Placement

KAMLOOPS, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Delta Exploration Inc. (the "Company") (TSX VENTURE:DEV) has arranged a non-brokered private placement of up to 1,500,000 units (the "Units") at a price of $1.65 per Unit for aggregate proceeds of up to $2,475,000. Each Unit consists of one common share of the Company and one non-transferable share purchase warrant, each warrant entitling the purchaser to purchase an additional common share at a price of $2.00 per share until the second anniversary of the completion of the offering. Finder's fees and warrants on a portion of the private placement in amounts yet to be determined may be paid to persons who introduce the Company to investors.

Shares acquired by the placees, and shares which may be acquired upon the exercise of the share purchase warrants, will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation. The proceeds of the private placement will be used to advance the Company's exploration activities and for general working capital.

On behalf of the Board of Directors

Delta Exploration Inc.

James T. Gillis, President & CEO

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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