U.S. Canadian Minerals, Inc. Announces Letter of Intent for Controlling Interest in Juina Mining Corp.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--March 4, 2004

U.S. Canadian Minerals, Inc. (OTCBB:UCAD) is pleased to announce the signing of a Letter of Intent to acquire controlling interest in Juina Mining Corporation (Pink Sheets:GEMM).

Juina Mining Corporation, a Nevada corporation, has a 49% interest in a joint venture partnership with DIAGEM International Resource Corp. (DGM) in the Brazilian company Juina Mining Mineracao, Ltd. (JMML) JMML holds an 86% working interest in the mining and mineral rights to approximately 1000 hectares (2,471 acres) of diamond bearing land in the District of Juina, Mato Grosso, Brazil -- the "Property 1000." Property 1000 is located in the District of Juina, at the southern region of the Amazon Basin.

Juina is located approximately 550 km (342 miles) north of the city of Cuiaba by air charter, or 724 km (450 miles) by road. With a population of about one million, Cuiaba is a major urban center in southern Mato Grosso, and is serviced with regular flights from Sao Paulo and Brasilia. Rio de Janeiro is about 1800 km (1,119 miles) southeast of Juina. The Property is located within the Aripuana-Juina Kimberlite Province, the largest diamond producing area in Brazil.

Further information on Juina can be found at www.juinamining.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.