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LEWISBURG, Ky., Jul 29, 2004 /PRNewswire-FirstCall via COMTEX/ -- Delta Mining and Exploration Corp. (Pink Sheets: DMXP), continues to be encouraged by the growth in exploration and mining activity in North America and the resultant support for these ventures from within the financial community.

Diamond exploration in North America has experienced a resurgence recently and extraordinary returns on investment have been achieved over the past few years by junior Canadian companies such as Dia-Met Minerals (Ekati Mine with BHP), Aber Resources (Diavik Mine with Rio Tinto) and Winspear Resources (Snap Lake Mine with De Beers). These companies started out as small exploration companies and are now considered industry leaders.

Delta is one of the few US-based diamond exploration companies and offers a unique opportunity to repeat this type of success with its existing large portfolio of quality diamond properties and the exploration potential of the under-explored and highly prospective regions of Montana and Bolivia. This potential was recognized by Platinum Equity Funding, Inc with their recent commitment to invest at least $500,000 for continued exploration.

According to the World Diamond Council, "Rough diamond mining companies produce annually some 114 million carats of rough, worth some $6.8-$7 billion, providing meaningful livelihood to some two million people working in the various stages of mining, processing, distributing and retailing, enabling the annual sale of some 67 million pieces of diamond jewelry worldwide. With new mines coming on stream, others being expanded and some being closed, it is expected that by the year 2005 world production may increase to over 120 million carats worth some $8.9-$9.2 billion."

About Delta Mining and Exploration, Corp: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in Montana, USA and in Bolivia, South America. Delta controls some 7500 acres throughout Montana located within the Wyoming Craton where much of North America's diamonds have been found. Another 10,000 acres of prospective diamond properties are controlled in Bolivia, South America.

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.