SOURCE: Cotton & Western Mining, Inc.

January 08, 2007 09:45 ET

Cotton & Western Mining, Inc. Shareholders Update

RICHMOND, TX -- (MARKET WIRE) -- January 8, 2007 -- Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) Reviewing progress made in year 2006 and moving forward with positive goals set for year 2007 is the mandate for management. The company successfully shifted is primary mining activities from Mexico to the Philippines in year 2006 with the exceptional discovery and acquisition of four (4) quality magnetite iron ore deposits located on Mindoro Island. The company has moved some of its heavy equipment from Mexico to the Philippines and is currently reviewing specifications of tracked mobile crushing and screening equipment to be shipped from the U.S.A. Pre-mining infrastructure consisting of approximately seventeen (17) kilometers of heavy haul road and mine preparations are scheduled to begin by mid February with mining production set to begin in the second quarter of year 2007. Current ship-loading capacity at the Port of Wawa on the Verde Island Passage is limited to a maximum of 120,000 metric tons per month until such time as a new deep water jetty and loading facility can be constructed; therefore, for the year of 2007, the revenues generated upon commencement of shipping are limited to $5,400,000.00 per month. Infrastructure Project Funding is in place; however, the capital requirement for mining production and shipping has not yet been completed. In December of 2006, management rejected two funding proposals which it deemed not in the best interest of the company nor its shareholders and has now turned to traditional financing sources to secure the needed funding for the Mindoro Island Project, with anticipation of closing a financial package before the end of the first quarter, 2007. It is also anticipated that supplemental revenues will be generated from the company's Mexico property before the end of the first quarter, 2007. The company through limited exploration has discovered a new Greenfield iron deposit in Southeast Asia; however, no further exploration or geological study programs will be commissioned until such time that shipping has begun on Mindoro Island.

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About Cotton & Western Mining, Inc.:

Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) is a U.S. corporation structured to produce and sell iron ore on a global scale. Currently, the Company is engaged in mining activities to provide the Asia Pacific Steel Manufacturing Sector with high grade raw crude iron ore products.

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.

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