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NWM Mining Corp fka TSX:NWM RSS Feed

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NWM Mining Corporation

O/S 223 million

~Corporate Web Site... http://www.nwmcorp.ca/

 

Gary Lindsay, mentioned below is in the Denver area:

Investor Relations: Gary Lindsay
Stratastar Marketing Group LLP
720-273-6224

 

 

*Existing Proven & Probable Reserves 384,361 oz.

*Current 43-101 compliant gold reserves (proven & probable) at Lluvia de Oro and La
Jojoba: 19.5 million tonnes @ 0.6118 g/t (384,361 oz. Au) providing an estimated mine
life of 7.5 years

http://www.nwmcorp.ca/nr/lp2.pdf


~NWM Mining Corporation is a Canadian mineral exploration company focused on the development of the Lluvia de Oro / La Jojoba gold mine located in Sonora in North West Mexico. The project covers a total of 5,075 hectares and encompasses the past producing Lluvia de Oro mine, the La Jojoba gold resource, and numerous historic workings.

*NWM recently announced the first phase of a 25,000 metre diamond drill program in 2010. The company will also test numerous, previously defined drill targets which have the potential to expand Lluvia de Oro and La Jojoba into a district level gold project.

~Recent News Highlights...

*NWM Announces Amended Standby Credit Facility and Private Placement

*NWM Mining Corporation (TSX-V: NWM) is pleased to announce the increase of its US $6,000,000 standby credit facility, announced on June 3, 2010, to US $16,500,000.
 

From the IR:

The company is 3 months (December) away from gold production. That is the time period that share prices historically increase the most. (as well as during initial exploration) The company will be self-funding after production begins.

The NI 43-101 gold resource is listed at almost 500,000 ounces. That will change this fall - infill drilling will be completed and increase the resource ounces significantly. Although it is still not measured yet - the expectation is that the infill drilling will provide another 500,000 ounces and will put the company at 1 million ounces of gold reserves.

Exploration continues to occur on the property and the porphyry system containing the gold source has just been found. So, that will provide significant resource growth through exploration of that part of the land package.


The value of the ounces of gold in the ground for the neighboring properties Capital Gold and Timmins are 3.5 and 6 times more than NWM. So, the company is very under-valued when measured from 500,000 ounces of gold. Yet there will soon be twice that number of gold ounces.

CHART:


 

 

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