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Gold/Mining/Energy : NEVADA MANHATTAN MINING INC. (NVMH) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Fortune who wrote (78)	9/24/1998 9:43:00 PM
From: Mr. Fortune	Read Replies (1) \| Respond to of 92

Here is a pr for today--looks good Thursday September 24, 9:16 am Eastern Time Company Press Release Nevada Manhattan Mining Inc. Announces Execution of a Letter of Understanding Relating to the Acquisition of Revenue-Producing Russian Resource Company CALABASAS, Calif.--(BUSINESS WIRE)--Sept. 24, 1998--Nevada Manhattan Mining Inc. (OTC BB:NVMH - news) Thursday announced that it has executed a Letter of Understanding to acquire 80 percent of ''Chrustalnaia'' of Russia for 8 million shares of Nevada Manhattan's common stock. Chrustalnaia owns and operates five mines with significant reserves as well as 100 percent of ''Stanum'' which is involved in harvesting, cutting and fabricating timber, also with substantial reserves. Chrustalnaia/Stanum had gross revenues of approximately $16.2 million for fiscal 1997 as presented in their Russian-audited balance sheet. A recognized major accounting firm will be retained to perform an audit of the Russian balance sheet and assets, and the final closing will be subject to such confirmation and the preparation of a more definitive agreement prepared in accordance with the laws of the United States and the other appropriate countries which will contain other closing conditions. Chrustalnaia's mining activities include mining, processing ore of colored metals and obtaining concentrates in the fields of gold, silver and tin, and functions under the direction of Dr. Alexander Gonchar, who has agreed to become a director of Nevada Manhattan Mining (see Nevada Manhattan Mining news release dated Sept. 3, 1998). Gonchar is the president of the General Euro-Asian Committee of Coal, Metals and Natural Resources of the Commonwealth of Independent States and will personally supervise and expand Nevada Manhattan's holdings and assets in the countries of the former Soviet Union. In addition, Gonchar is a well-known academician and a respected member of the Academy of Science in Russia as well as other highly respected scientific communities. Nevada Manhattan may sell up to 2 million shares of common stock to Gonchar at terms to be agreed upon. Nevada Manhattan Mining's Chief Operating Officer Jeffrey Kramer commented, ''This action strengthens the company's planned expansion as an international global natural resource company.'' Matters discussed in this release include forward-looking statements that involve risks and uncertainties. Actual results may be materially different. Factors that could cause actual results to differ include risk factors listed in the company's reports to the Securities and Exchange Commission, including Form 10-KSB and Form 10-QSB on file with the SEC. Note to editors: Correction: Re Nevada Manhattan Minings' Sept. 15 news release, the mass separator has the ability to divide a mass of 20,000 AMU (Atomic Molecular Unit) and not from a micron as previously stated. For more information on Nevada Manhattan Mining, contact Yvonne Cambere at 818/591-4400 or e-mail: administration@nevadamanhattan.com or visit the company's Web site at www.nevadamanhattan.com. Contact: Nevada Manhattan Mining, Calabasas Yvonne Cambere, 818/591-4400