GEMM Declares Yield of 383 Diamonds During Mining Field Pit Test.

RENO, Nev.--(BUSINESS WIRE)--July 1, 1998--Juina Mining Corp. (OTC BB:GEMM) Wednesday announced that a second test pit, located on the southern portion of its property located in Juina, Mato Grosso, Brazil, has yielded 383 diamonds with an aggregate weight of 166.72 carats.

Noel Frenzel, president of GEMM, stated: "This test pit was opened in the vicinity where four Kimberlite-like anomalies were recently discovered, as reported in our news release dated June 10, 1998. Another adjacent test pit is being prepared this week, and results are expected within 10 days."

He continued, "The realized yield so far is consistent with our expectation of the potential resource and projected value of this property."

In geological terminology, a diamond measuring in excess of one millimeter is a "macro diamond." The stones that were reported from GEMM's second test pit are all macro diamonds. Ninety-four diamonds, with an aggregate weight of 112.4 carats, varied in size from .50 to 5.23 caratseach. The largest gem-quality stone recovered weighed 3.93 carats.

Additional technical information regarding the yield reported herein, the recent geophysical magnetic survey, specific weights and measurements of the stones recovered, area delineated to date and mining-specific technical data, is available by contacting the company.

Juina Mining is a diamond resource and exploration company committed to the recovery of diamonds within the Juina, Mato Grosso region of Brazil. The company can be found on the Internet at www.gemdiamond.com.

Except for the historical information contained herein with regard to the volume of diamonds produced thus far from the company's exclusive mining and mineral concession, the matters discussed in this news release contain forward-looking statements as defined in Section 27(A) of the Securities Act of 1933 and Section 21(E) of the Securities Exchange Act of 1934, as amended. Such forward-looking statements and information involve risks and uncertainties, including but not limited to, primary customer order rates, cancellations, dependence on certain customers of the company's specialized business products, and late delivery of vendor supplies, equipment or services that may cause production delays. Other uncertainties related to the company's business and securities which are traded over the counter, are outlined in the information and materials available upon request, by contacting Kit Bromley & Co. Inc., or the company.

    CONTACT:  Kit Bromley & Co. Inc.
               Investor Relations Division, 310/689-1026