[0] North Lily Mining Company Announces Progress.

Business Editors

DENVER--(BUSINESS WIRE)--Feb. 13, 2001

North Lily Mining Company (OTCBB:NLMC) announced today that it is progressing along parallel paths of business development as follows:

      1.  The Company is now listed and traded on the electronic OTC
        Bulletin Board.

      2.  As part of an aggressive brick and mortar strategy to
        diversify Loanmining into a multi-service financial group, the
        Company has begun acquiring commercial installment contracts
        and accounts receivable with a 10% net profit to be generated
        over the 5 year life of the installment contracts. The Company
        intends and has negotiated for acquisition of at least four
        million dollars of such contracts during the remainder of the
        first quarter 2001, which would add substantially to the
        Company's current assets and revenues. This is expected to
        provide additional working capital for the Company.

      3.  The Company's acquisitions of commercial installment contracts
        above should also enhance Loanmining's acquisition of "credit
        warehousing facilities" necessary for expansion of its
        residential mortgage business, both on a brick and mortar and
        future internet basis, thereby providing new avenues for
        Loanmining to access new commercial customers.

      4.  In order to better inform the investment community and the
        public as to the new developments at the Company, the Company
        has engaged the services of public and investments relations
        specialists, including publishing and internet communications.
        This involves substantial cost to the Company, at least part
        of which consists of the issuance of company stock to be
        registered with the SEC in order to preserve working capital.
        The Company has also entered into significant consulting
        agreements in connection with new business development,
        including debt structuring, evolution of credit card marketing
        fulfillment and distribution services, and increase of the
        Company's commercial paper and financing activities; the
        Company has issued and agreed to issue shares registered
        pursuant to its S-8 registration as compensation for these
        services, and will also issue shares for past compensation
        pursuant to agreements with employees.

      5.  The Company had also advanced its due diligence in preparation
        for an anticipated merger/acquisition transaction (previously
        announced) with Captain's Management Corporation, Inc.
        (including its anticipated public interactive dynamic display
        network installations systems).

      6.  In addition, the Company recently closed on financing part of
        its Utah rural properties, and is negotiating with a financial
        services company over an option to market a section of these
        properties.

Forward-Looking Statements: This release contains certain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements. There can for instance be no assurances about the timing and development of emerging technologies, the timely availability of adequate financing, the achievement of anticipated acquisitions or mergers, the extent of resultant stock dilution, and the timing of completion of related registration with the SEC. Although the Company believes that the forward-looking statements contained herein are reasonable based on conditions, and the estimates and opinions of management and consultants on the date of the statements, it can give no assurance that the expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the possibility conditions, or management estimates or opinions of forward-looking statements change without updates necessarily being published.