N.Y. 212-344-2828                                               FAX 212-344-4537

                                WCM CAPITAL, INC.
                           76 Beaver Street - Ste. 500


     FOR IMMEDIATE RELEASE

     New York, New York/Idaho  Springs,  Colorado - June 21, 1999 - WCM CAPITAL,
INC.  (NASDAQ  symbol  WCMC).  WCMC  announced  today that it has entered into a
letter of intent to  purchase  substantially  all of the assets of U.S.  Mining,
Inc. in exchange  for  approximately  69% of the Company.  U.S.  Mining is a New
Jersey Company owned and controlled by Mr. William  Martucci,  a director of the
Company, which holds contracts to acquire certain mineral rights relating to the
Franklin  Mining  properties.  The  letter of intent  further  contemplates  the
forgiveness of approximately $1,500,000 in debt currently owed by the Company to
U.S.  Mining,  which U.S.  Mining has  advanced  to the  Company to finance  its
operations to date. The asset purchase by the Company is conditional upon, among
other things,  the execution of  definitive  documents,  and the approval by the
Company's shareholders.

     The Company also announced the  resignation of Mr. Ronald Ginsberg from the
Board of Directors of the Company, which became effective May 27, 1999.

CONTACT:       Robert Waligunda, Pres.     (212) - 344-2828

Statements  in  this  press  release,   other  than   statements  of  historical
information,  are  forward-looking  statements within the meaning of the Private
Securities   Litigation  Reform  Act  of  1995.  Investors  are  cautioned  that
forward-looking  statements are inherently  uncertain.  Actual  performance  and
results may differ  materially  from that  projected or suggested due to certain
risks and uncertainties  including,  without  limitation,  risks associated with
mining and milling operations,  the availability of debt and equity capital on a
reasonable terms and the effects of government regulations and operations risks.
Additional  information  concerning  certain risks and uncertainties  that could
cause actual,  results to differ  materially from that projected or suggested is
contained in the Company's  filings with the Securities and Exchange  Commission
(SEC) over the past 12 months, copies of which are available from the SEC or may
be obtained  upon  request  from the  Company.  The  forward-looking  statements
contained  herein  represent  the  Company's  judgement  as of the  date of this
release,  and the Company  cautions  readers not to place undue reliance on such
statements.