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                                  EXHIBIT 99.1


               Nevada Manhattan Mining Inc. Announces 100 Percent
              Increase in Revenue From Brazilian Timber Operations

CALABASAS,  Calif.--(BUSINESS WIRE)--July 22, 1998--Nevada Manhattan Mining Inc.
(OTC BB:NVMH - news) Wednesday announced that monthly revenue from its Brazilian
subsidiary has increased by more than 100 percent over last year.

Monthly production is targeted to exceed $200,000,  more than double last year's
highest  output.   Additional  increases  are  anticipated  to  be  realized  in
subsequent months.

According to Christopher D. Michaels, CEO of Nevada Manhattan, "We have achieved
our initial target under the company's business plan and look forward to further
revenue  growth and a  profitable  second  fiscal  quarter  and year."  Michaels
commented  further,  "Our current results confirm that the changes in management
in the company's  Brazilian  subsidiary,  as well as the input from Metsa Timber
relating to this restructuring, was productive and valuable."

Nevada Manhattan Mining is a diversified,  environmentally  responsible,  global
natural-resource  company.  Its mission is to continue building an international
natural-resource  company by acquiring,  developing  and operating rich resource
assets,  converting  them to significant  cash-flow  generators,  thus enhancing
shareholder  value.  The  company  may  develop  these  assets  on its own or in
conjunction with selected strategic partners.

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 Website at www.nevadamanhattan.com.

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 and Form 10-QSB on file with the SEC.