Beta Minerals Inc.: Easter Gold Geochemical Survey Completed/New Staking and Geochemical Survey in Nye County, Nevada.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 4, 2004

Beta Minerals Inc. (TSX Venture: BMI) is pleased to announce results of their recently completed geochemical survey on their Easter Mine claims in Lincoln Co., southeastern Nevada (see news release of August 18, 2003). The survey, returning values as high as 2.141 grams / tonne Au, has extended the zone of anomalous gold geochemistry along an additional 2,200 feet strike length which measures several hundred feet in width, and remains untested by drilling. The survey has now confirmed an approximate strike length of 6,500 feet of which only 1,200 hundred feet has been the principal focus of drill testing conducted by other companies.

In addition to extending the Easter vein system, three additional gold and trace element anomalies were located on the claims in proximity to the Easter vein. The first of these occurs in the hanging wall of the Easter vein on what has been termed the Shaft vein and forms a 1,000 foot long zone between 100 and 300 feet in width. The second anomaly also forms an approximately 1,000 foot zone, 200 to 600 feet in width along the Taylor Mine Spring drainage to the west of the Easter vein. The third anomaly is found in the West Shaft vein area north of the Easter vein system and measures 100 to 200 feet in width along an 800 foot strike length.

The geochemical program represents the first stage of Beta's exploration on the Easter vein system leading to a program of diamond drill testing in April. Previous drilling by other companies has returned drill intercepts of up to 0.194 oz. Au / ton over 90 feet (including 0.549 oz. Au / ton over 15 feet) and 0.084 oz. / ton over 110 feet (including 0.534 oz. Au / ton over 5 feet). Drilling has also shown the system is open at a vertical depth of 1,740 feet, several hundred feet below an indicated boiling zone at a depth of 500 to 800 feet and suggests the possibility of a bonanza system underlying the larger heap leachable / bulk tonnage deposit now being outlined.

Further to Beta's strategy of focusing on large tonnage / disseminated gold and bonanza type deposits in Nevada, Beta has also staked 32 mining claims in Nye County in the Black Hawk mining district 100 miles southeast of Tonopah. These claims cover the former Black Hawk and Fallini Mines noted for historic production of mercury, and in the course of prospecting of the area, sampling of the jasperoids in Cambrian limestone cut by the mercury bearing veins has returned values of up to 3.40 grams per tonne Au. A geochemical survey has just been completed on the claims and results will be made available on completion of assaying.

While Beta continues exploration of their holdings, the Company is aggressively acquiring other gold properties through negotiation and through claim staking. To this end the company has also acquired a very large data base reflecting nearly 100 years of work conducted in the southwestern United States and Mexico (see news release of January 26, 2004).

The foregoing technical information for the Easter Property is reported under a quality assurance program supervised by David Trueman, Ph.D., P.Geo., President and a director of Beta. Dr. Trueman, who is a qualified person under NI 43-101, has verified and approved the contents of this news release.

Beta Minerals is also pleased to announce the appointment of David R. Hembree to the position of Vice-President of Exploration. Mr. Hembree is a professional geologist who has accumulated some 27 years of experience in exploration and mineral production, much of it in Nevada, and through whose experience Beta has undertaken its Nevada initiative. Beta welcomes Mr. Hembree to its strong management team of mineral exploration, production and finance.

ON BEHALF OF THE BOARD OF DIRECTORS OF BETA MINERALS INC.

David Trueman, President

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.