delta-mining-and-exploration-companiesDelta Mining and Exploration Corp. is pleased to announce that it has signed a binding agreement with Amigo Inc. and Mr. Garry Carlson for the acquisition of a 100% interest in the Delcer Buttes gold-copper property in Elko County, Nevada.

Basic Terms of the Agreement

Delta will own a 100% undivided interest by issuing seven million common shares of Delta to Amigo that are restricted from trading until July 1, 2010, paying $10,000 in cash (to cover previously-paid Property maintenance fees for the past two years) and expending a minimum of $20,000 per year as a work commitment on the Property.

In addition, a 2% Net Smelter Return royalty is payable to Amigo from any commercial production from the Property. Delta retains the right to buy-back, at any time, half of the NSR royalty (1%) for $3 million.

Title to the 31 unpatented hard-rock mining claims (totaling 680 acres) comprising the Property will be transferred to Delta and Delta must maintain the Property in good standing in accordance with the State of Nevada and Federal Mining laws, which includes paying for all governmental maintenance payments.

Delta will be the project operator and has agreed to utilize the services of Amigo on a consulting basis for certain exploration services (including geophysical surveys) on the Property for a maximum of two years.

Details of the work program will be announced in the near future pending finalization of the initial field work program by Delta and Amigo.

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