The victims were Bosniaks and Croats from the Prijedor area killed in the summer of 1992, the statement said, adding that this primary mass grave was the biggest in the area.
The exact number of the victims and their identity will be established after the exhumation is completed.
According to victims' organisations, 5,209 citizens, mainly Bosniaks, were killed or went missing in the Prijedor area during the war, when the Serb authorities set up three detention camps - Omarska, Keraterm and Trnopolje - in which Croats and Bosniaks were kept in inhumane conditions. Many were killed and tortured.
A number of verdicts have been handed down at the war crimes tribunal in The Hague and domestic courts for the crimes in Prijedor and the three camps. Former senior Bosnian Serb officials Milomir Stakic and Radoslav Brdjanin were sentenced to 40 and 31 years' imprisonment respectively. The Hague tribunal convicted six Serb officials and camp guards, while the Bosnian State Court convicted six former Serb soldiers.