Delta Mining and Exploration Signs Letter of Intent, Begins Technical and Legal Due Diligence

NEW YORK, NY, Aug 17 (MARKET WIRE) --
Delta Mining and Exploration Corp. (PINKSHEETS: DMXC) is pleased to
announce that it has found a potential joint venture partner. The company
has signed a Letter of Intent with the property owner of Delcer Buttes,
in Elk County, Nevada.

The Delcer Buttes property, owned by Mr. Garry Carlson and registered in
the name of Amigo Inc., compromises 33 unpatented mining claims covering
roughly 680 acres of land. Though the land has never been fully explored
there have been recordings of gold and silver deposits that date back to
late 1800s. The area is rich with mining activity as witnessed by the
numerous precious metal finds in the surrounding areas including a mine
just west of the Delcer Buttes which produces close to 3 million ounces of
gold per year.

Pursuant to the Letter of Intent, Amigo Inc. and Mr. Carlson agree to
transfer the Delcer Buttes Claims into the name of Delta Mining and
Exploration. Delta will not pay for the actual land but will pay all
federal, state and local maintenance fees relating to the claims.

The Letter of Intent also stipulates that the Delta will utilize the
services of Gradient Geophysics, a Mr. Carlson-owned company, for
exploration work to be carried out on the Delcer Buttes at a very
reasonable cost, an important factor considering the costs that Delta
incurred hiring outside firms in exploring the Montana properties. Lastly,
Delta will pay Mr. Carlson and Amigo Inc., a two percent Net Smelter
Return royalty from any commercial production that comes out of the
Delcer Buttes.

Delta will have 120 days to complete legal and technical due diligence
which consists of verifying that the land does indeed belong to the owner,
and taking a small sample from the property. If all conditions are
satisfied then the parties will enter into a binding agreement and will
work together in exploring the land.

Delta's Chief Executive Officer Alex Livak states that, "This is exactly
the type of opportunity that Delta was looking for. We are not spending
any capital on the land other then to cover the fees, we have added
someone with over 20 years of geophysics experience in Mr. Garry Carlson,
the property is unexplored but comes from an area where deposits have been
recorded, and lastly, we have an exploration plan and budget in place."

As the due diligence process takes its course the company will continue to
disseminate information on the property, the surrounding areas, and
provide continued updates. It is management's goal to complete the due
diligence as quickly as possible and enter into a binding agreement so
that the exploration program can begin.

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.

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:
Delta Mining and Exploration Corp.
917-331-0076
Email Contact
www.deltamine.com

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