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                                  EXHIBIT 99.1


                NEVADA MANHATTAN MINING ANNOUNCES SECOND QUARTER
                        REVENUES AND SHAREHOLDER DIVIDEND


Calabasas, Calif. December 9, 1997 - Nevada Manhattan Mining, Inc. (OTC/BB:NVMH)
today announced that estimated revenues for the Company's second fiscal quarter
ending November 30, 1997 increased by approximately 50% over the previous
quarter. The Company anticipates reporting approximately $225,000 in revenues
for the period.

Nevada Manhattan also announced that all shareholders of record as of December
31, 1997 will receive one share of Convertible Preferred Stock, $1.00 par value,
for every 100 shares of common stock owned. The Preferred Stock will be
convertible to one share of common stock for the period of one year, carry a
dividend equal to 8% of par value payable in cash or stock at the Company's
election, and will also contain warrants attached to purchase two additional
shares at $3.00 per share for a period of two years. Preferred Shares will be
callable by the Company at $3.50 per share.

Nevada Manhattan Mining owns the right to harvest virgin timber properties on up
to 1.875 million accessible acres in the eastern Amazon region. Christopher D.
Michaels, CEO, stated that the significant increase in Company revenues is
directly a result of consistent orders for the Company's tropical hardwood. "The
recently completed expansion of our sawmill facility near the city of Belem,
Brazil has significantly increased the facility's capacity for the production of
export-quality tropical hardwood," said Michaels. "Nevada's mill facility is now
one of the largest of its kind in the region. The Company is also developing a
sustainable forestry model with the assistance of Eco-Rating International, a
Zurich-based environmental services company, which has provided an overview and
evaluation of Nevada's timber operations in Brazil We have begun to institute
training and harvesting methods outlined in the Eco-Rating report. Our goal is
to balance our business expansion with the overall need to protect the
environment in that part of the world."

Michaels stated that Nevada Manhattan Mining has received purchase orders for
sawn tropical timber from several buyers including Nordisk Timber Ltd., Sabra
International, Robco Madeiras Ltd. and Nevesexport.

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.