SOURCE: Cotton & Western Mining, Inc.

March 14, 2008 09:45 ET

Cotton & Western Mining, Inc. -- CWRM 2008 Revenues Targeted to Exceed $100 Million Dollars

HOUSTON, TX--(Marketwire - March 14, 2008) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRM) -- Robert L. Cotton, President & C.E.O. of Houston-based Cotton & Western Mining, said today that the company is still on track and expecting to get at minimum six months production from its Baja California new iron and copper ore production in year 2008. With metal mineral prices at all time highs, only 60,000 dry metric tons of crude copper ore and 900,000 dry metric tons of crude iron ores would be needed to exceed $100,000,000.00 in gross revenues.

The company anticipates production of crude iron and crude copper ore to begin by the first of July, 2008 with modest expectations for production of ores. It has also been decided that crude iron ore production will begin at the Baja Pacific No. 8 magnetite mineral deposit; this has caused some delay as the No. 8 is a new property and allotment for time needed to receive the mining lot title together with requisite permits will set the production schedule back by 60 days.

The company has received an offer of $45.00 F.O.B. Pacific Ocean Port of Ensenada, Mexico for each one (1%) percent of copper (Cu) present in each metric ton of its crude copper ores. Analysis of the Baja Pacific No. 10 copper mineral deposit ranges between 22 and 28% Cu. In addition to the copper only Baja Pacific No. 10 mineral deposit, the company has two other copper deposits on the iron mineral concessions Baja Pacific No. 5 and No. 8.

For year 2008 Bench Mark pricing for the first quarter for raw crude iron ore in fines at minimum 64.5% Fe is $62.00 F.O.B. per each dry metric ton and Bench Mark pricing for the first quarter of 2008 for raw crude copper ore in lump at minimum 28% Cu is $1,350.00 C.I.F. per each dry metric ton. The company is planning on setting up production of copper ore at 10,000 DMT per month and production for iron ore fines will be set at 150,000 DMT per month.

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