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CMKM Diamonds, Inc. Announces Dividend to Shareholders of Record Date and Option Agreement


DENVER--(BUSINESS WIRE)--07/18/2004--CMKM Diamonds, Inc. (Pink Sheets:CMKX) is pleased to have reached a purchase agreement with U.S. Canadian Minerals, Inc. (OTC BB:UCAD) to which U.S. Canadian Minerals Inc. will be purchasing 5% of all mineral claims held by CMKM Diamonds, Inc. in exchange for 7.5 million shares of UCAD. CMKM Diamonds, Inc. will later issue these shares to all shareholders of record on August 20, 2004.

In addition, UCAD has a 1 year option agreement to purchase an additional 10% interest of all mineral claims held by CMKM Diamonds, Inc. for a total of $15 million U.S. dollars payable to CMKM Diamonds, Inc. Mr. Rendall Williams, CEO for UCAD, stated: "Having the opportunity to have worked with the management of CMKM Diamonds, Inc. on the Carolyn Pipe and on the Goldak Airborne surveys, we are looking to move aggressively forward in building shareholder value for both companies."

Urban Casavant, CEO CMKM Diamonds, Inc., stated: "We are looking to move forward as a team in order to create a winning formula for success of bothe companies as well as their shareholders!" More details will be released in future news releases.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.

CONTACT:CMKM Diamonds, Inc. Melvin O'Neil, 306-752-3755 or 877-752-3755 fax: [phone] [e-mail]

SOURCE: CMKM Diamonds, Inc.

07/18/2004 04:47 EASTERN