SOURCE: Cotton & Western Mining, Inc.

August 18, 2008 09:45 ET

Cotton & Western Mining, Inc. -- CWRM Completes Discovery of Baja Iron Deposits

HOUSTON, TX--(Marketwire - August 18, 2008) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRM) -- Robert L. Cotton, President of Cotton & Western Mining, Inc., stated today that the company has finalized mineral rights agreements on several locations within 150 kilometers of the Pacific Ocean Port of Ensenada, Baja California, Mexico; fulfilling needed iron mineral reserves to meet minimum production requirements of the company's clients. "There are still a couple properties that we would like to close a deal on, but if we do not, it will not impact our mining project," Mr. Cotton said. The company now can turn its full attention to finalizing product off-take agreements.

Related Business:

The environmental impact study together with permitting applications for Baja Pacific No. 4 and No. 14 are completed and has been submitted to the environmental agency. The company will begin the process for Baja Pacific No. 8 in the near future.

IBC Strategic Limited, Hong Kong is handling the negotiations involving both the purchase of raw crude iron ore materials on annual contract pricing, packaged with financing incentives for the exclusivity of the company's Baja iron ore production. The buyer will issue a $10,000,000.00 Standby Letter of Credit in favor of CWRM which would allow the company to open iron ore production in Baja California, Mexico.

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