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Unfortunately, last year was a difficult one for Delta Mining as it suffered some setbacks on the Homestead property and Phase 3 exploration; as a result, the Board of Directors and Management have decided to take a different course of action.
For the time being, Delta will no longer concentrate on exploring the properties it possesses in Montana and will move away from diamond exploration. Instead, the company is aggressively pursuing other potential land and mineral deals that involve precious metals such as gold, copper and silver.
For the past few months, the management team has been in discussion with joint venture groups looking to secure property rights. The properties that interest Delta are in the areas along the Midwest and Northwest regions of the country where mining activity is still healthy and the potential for joint venture work looks promising.
The company has been approached with proposals for joint venture possibilities and is working out the details as of this announcement. Delta believes that there is an enormous benefit of having a partner working with the company as they may assist in raising capital, help the company secure land, and/or provide the necessary equipment needed for exploration work.
Management believes that this is an exciting time and a tremendous opportunity for the company to make such a bold move. Precious metals are an extremely hot commodity, especially in these uncertain economic times, and the company wants to position itself to be able to take advantage of this opportunity.
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
SOURCE: Delta Mining and Exploration
http://www2.marketwire.com/mw/emailprcntct?id=F851ECD52C748DAA
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