EXHIBIT 99.1

              OBAN MINING, INC. AND IKONA GEAR INTERNATIONAL, INC.
    EXECUTE LETTER OF INTENT TO ENTER INTO VOLUNTARY SHARE EXCHANGE AGREEMENT

VANCOUVER,  BRITISH  COLUMBIA JULY 30, 2003 - Oban Mining, Inc. ("Oban") (OTCBB:
OBAN)  announced  today  that it has executed a letter of intent to enter into a
Definitive  Voluntary  Share Exchange Agreement to effect a business combination
with  Ikona  Gear International, Inc. ("Ikona"). Consummation of the transaction
is  subject  to  necessary  corporate  approvals, satisfactory completion of due
diligence  and  other  conditions  customary  in  transactions  of  this nature.

If  the  proposed  business  combination  is  completed, Ikona shareholders will
acquire  a  controlling interest in Oban and the Oban board of directors will be
reconstituted.   The  parties  hope to complete the transaction by September 30,
2003.

Ikona  is  commercializing  and  further developing its patented gear technology
(the  "Ikona Gearing System"). The Ikona Gearing System utilizes a unique, newly
designed  tooth shape which enables gears to be stronger, smaller, lighter, more
energy efficient (and thus cost effective) and conjugate (i.e. run at a constant
speed),  while  allowing a higher single stage reduction ratio and less backlash
compared  to  any  other  gears  currently  available.

Mr.  Richard  Achron, President of Oban, said, "This transaction will change the
focus  of  Oban  into  a  company  dedicated  primarily  to  developing  Ikona's
technology and related business prospectsWe are excited about the opportunities
this  transaction presents for Oban and we look forward to working on completion
of  the  definitive  agreement  and  finalizing  our  proposed  stock exchange."

Mr.  Laith  Nosh,  President of Ikona, said, "We are extremely pleased that OBAN
and  IKONA  have entered in to the letter of intent.  With a successful business
combination  between  the  two companies I expect the awareness of IKONA and its
proprietary technology will be greatly enhanced throughout North American and in
the  areas  of Europe where we are already dealing, as well as in other parts of
the world where we plan to establish working relationships while commercializing
of  IKONA  Gear  System."

On behalf of the Board of Directors

"RICHARD ACHRON"

This  press  release  may  contain  certain  forward-looking  information  and
statements of Oban and/or Ikona concerning operations, performance and financial
condition, including, in particular, the likelihood of success in developing and
expanding  a  business,  the  likelihood of the completion of the share exchange
with Ikona, the success of Ikona successfully developing and commercializing its
IKONA Gear System and Ikona developing its business.  These statements are based
upon  a  number of uncertainties and contingencies, many of which are beyond the
control  of  Oban  or  Ikona.  Actual  results  may differ materially from those
expressed  or  implied  by such forward-looking statements. This document is not
intended to be and is not an advertisement for any securities of Oban.



Corporate Information:
----------------------
Oban Mining Inc.
(604) 275-8994

Ikona Gear International Inc.
Mr. Dal Brynelsen
VP Business Development & Corporate Finance
(604) 685-5510
Website:  www.ikonagear.com