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                                  EXHIBIT 99.1


                 NEVADA MANHATTAN MINING, INC. COMMENCES TIMBER
                             OPERATIONS IN TOME-ACU


CALABASAS, Calif.--(BUSINESS WIRE)--Feb. 27, 1998--Nevada Manhattan Mining, Inc.
(OTC BB: NVMH - news) announced today that based on recommendations from outside
consultants  related to timber  production  and  environmental  management,  the
Company  began  transporting  an initial  1,000  cubic  meters of the  Company's
inventory  of raw  materials  to  Tome-Acu,  in the Amazon Basin within the same
region as current operations.

Timber  production in this location  should  commence as early as March 2, 1998.
These new timber milling  operations  commenced in  anticipation  of acquiring a
leasehold  interest  in an  operating  sawmill  located  in this  area in  which
hardwood is readily  available for harvesting for approximately the next fifteen
years.  "By doing this,  the Company  will be able to  substantially  reduce its
transportation  expenses  associated  with the  production  of timber  products,
thereby creating additional  efficiencies," stated Christopher Michaels,  CEO of
Nevada Manhattan.

On a separate note,  Nevada  Manhattan  confirmed that the Company's  employment
agreement with Ignatius (Eddy) Theodorou has been terminated.  Mr. Theodorou was
employed at the Company's  Equatorial  Resources  subsidiary in Brazil.  Sawmill
operations  for the Company are now being managed by Mr.  Geraldo  Guidolini who
has over 20 years of hands-on  experience in operating  hardwood sawmills in the
Amazon Basin.

Nevada Manhattan Mining is a diversified,  global natural resource  company.  In
addition to its substantial timber operations in Brazil, it also has significant
gold and coal  concessions  in  Indonesia as well as gold mining  operations  in
Nevada.  For more  information  on Nevada  Manhattan  Mining,  contact Yvonne S.
Cambere    at    818/591-4400,    or   fax    818/591-4411    or    e-mail    at
administration@nevadamanhattan.com or visit Nevada Manhattan Mining's website at
www.nevadamanhattan.com.