SOURCE: Cotton & Western Mining, Inc.

January 22, 2007 10:06 ET

Cotton & Western Mining, Inc. Studies Mindoro Joint Venture Proposal

RICHMOND, TX -- (MARKET WIRE) -- January 22, 2007 -- Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) Robert L. Cotton, President & C.E.O. announced today that its "Philippines In Country Affiliate" Astrolab Mining Corporation, has presented to the company's management a joint venture proposal that would bring into the Mindoro Island Project a third party energy company; who would provide the needed funding to ramp up and get the project underway. The proposal would eliminate the need for the company to secure the funding it is now working on and shorten the time frame needed to open the iron mineral rich Nagsabongan Deposit on Mindoro Island, the Philippines. Mr. Cotton has stated that the proposal has two most attractive merits, one, "the company would be able to start-up the project on the scheduled production targets while addressing the need to build a deep water jetty and high speed loading band at Wawa as soon as possible" and secondly, "the added value of having a prominent financial partner from the energy sector would greatly restore investors' confidence in our company." The management of CWRN will study the proposal and bring it to the board of directors for consideration within the next two weeks. The company is obligated under a non-disclosure agreement to withhold announcing the third party until such time an agreement has been executed between the parties.

CWRN has stated in an earlier news release that the production revenues from Mindoro Island would be approximately $5,000,000.00 maximum per month while loading out of the shallow water port of Wawa on the Verde Island Passage; once a deep water loading facility is put into operations, the monthly revenues would increase to approximately $27,000,000.00 on 600,000 metric tons per month shipping.

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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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