SOURCE: Cotton & Western Mining, Inc.

January 07, 2008 09:45 ET

Cotton & Western Mining, Inc. -- CWRM Receives $10,000,000.00 Commitment From Asian Group

HOUSTON, TX--(Marketwire - January 7, 2008) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRM) announced today that the company has received a $10,000,000.00 financial commitment from an Asian Group for the development of the company's Baja California Iron Mining Project; subject to finalization of the geological reevaluation scheduled to begin in January or February 2008.

For reasons of confidentiality, the group's name is being withheld for the time being and will be announced in a later news release.

CWRM recently acquired three (3) mixed magnetite and hematite iron mineral deposits, located in Baja California, Mexico. Outcrop chemical analysis has revealed the iron minerals to be of commercial grade suitable for concentrated fines in sizes 0.15 through 10 millimeters. Diamond bit core drilling and mine development planning are scheduled to begin in the first quarter 2008.

Photographs of the new mineral rights concessions, designated as Baja Pacific No. 4, 5 and 6 can be viewed at the company's website: under Photo Gallery. The surface of the mineral deposits contains many visual magnetite and hematite outcrops that are easily distinguished in the pictures. A magnet is shown attached to many of the outcrops verifying that the minerals are iron magnetite, gray in color or grayish/red in color where the iron minerals are mixed Magnetite/Hematite.

Related Business:

Agusan Petroleum & Mining Corp, Manila, is progressing on the development of the Nagsabongan Iron Mineral Deposit on Mindoro Island with expectations of the project coming on line sometime in 2008. Cotton & Western Mining, Inc. is the Technical and Marketing Directors for the project.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Contact:
    Cotton & Western Mining, Inc.
    363 North Sam Houston Parkway East
    Suite 1100
    Houston, Texas 77060 USA
    +1(281) 820-7815