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                                                                    EXHIBIT 99.1



                 NEVADA MANHATTAN MINING ANNOUNCES REVENUES FROM
                                TIMBER PRODUCTION


        CALABASAS, Calif--Aug. 12, 1997--Nevada Manhattan Mining Inc.
(OTC/BB:NVMH), a diversified, global natural resource company, Tuesday released
its first revenue figures from its 80 percent-owned subsidiary, Equatorial
Resources.

        The company's Brazilian timber operations produced $287,178 in revenues
for the period ended May 31, 1997. Operations in Brazil commenced in January
1997.

        The company reported a net loss of $3,536,009 for the year ended May 31,
1997, primarily due to the ongoing current expansion which included additional
capital infusion in the Brazilian timber operations. The above figures were
disclosed in connection with the company's recently completed audited financial
statements for the year ended May 31, 1997, filed with the U.S. Securities and
Exchange Commission.

        Christopher Michaels, NVMH's CEO, stated: "We are pleased with the early
results and revenue production of our Brazilian subsidiary and anticipate
significantly higher revenues in ensuing quarters. Producing revenues within the
first six months of operation in Brazil validates our commitment to the project
and the ongoing expansion."

        In addition to its hardwood timber operations, Nevada Manhattan Mining
also has gold and coal mining concessions in Asia, as well as a producing gold
mine in Nevada. For more information on Nevada Manhattan Mining, contact
Christopher Michaels, CEO, or Jeffrey Kramer, COO, at 818/591-4400 or fax
818/591-4411 or Jack Wynn, Jack Wynn & Co. Inc. 202/547-6245 or fax
202/547-6260.