SOURCE: Cotton & Western Mining, Inc.

May 16, 2008 09:45 ET

Cotton & Western Mining, Inc. -- CWRM Updates Shareholders on Baja Project Funding

HOUSTON, TX--(Marketwire - May 16, 2008) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRM) -- Robert L. Cotton, President of Cotton & Western Mining, Inc., has recently returned from Hong Kong and China where meetings were held with direct buyers and end-users of crude iron ore, steel making materials. The company has been entertaining several offers over the past few months involving both the purchase of materials on annual contract pricing, packaged with financing incentives for the exclusivity of the Baja Pacific No. 8 iron ore production. One of the more attractive proposals involves the Buyer issuing a Standby Letter of Credit in favor of CWRM which would allow the company to open iron ore production in Baja California, Mexico. Further to that end, CWRM has secured a Hong Kong banking facility against a confirmed SBLC issued and guaranteed by a Chinese steel maker.

The company has been asked not to release the name of the Chinese Steel Mill at this time; however, a joint news release will issued upon the final contract signing which the company expects will be sometime in June, 2008.

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The Domestic Mill Scale Project is on track with the conformation of delivery of 400 shipping containers per month being secured for the project. Financing for the project is being undertaken by the LC Xchange, Inc. Houston, Texas, U.S.A.

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
    www.cottonwestern.com
    +1(281)820-7815