NWM Mining Corporation exercises accelerated expiry rights on 55,445,500 warrants

TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 341,100,093

TORONTO, Jan. 5 /CNW/ - NWM Mining Corporation (the "Company") is pleased to announce that the "Trading Target" for the outstanding share purchase warrants issued following private placements that closed in September and October of 2009, normally expiring in September and October of 2011, has been achieved.  Under the terms of the warrants, the Trading Target is achieved when the volume weighted average closing price of the Company's common shares on the TSX Venture Exchange is at or greater than $0.12 per share for any period of 20 consecutive trading days and it was achieved on the close of trading on December 29, 2010. 

After the Trading Target has been achieved the Company may accelerate the expiry time of the warrants to the day that is 30 days from the date the Company provides a notice to the warrant holders at their last advised address.  The Company sent notices to all 74 remaining warrant holders so affected on January 4, 2011.  The notice will be effective after 10 business days, which is January 18, 2011.  The warrant holders will thus have 30 calendar days from that effective date, until February 17, 2011, to exercise their warrants.  Any warrants not so exercised will expire.

There is a total of 55,445,500 warrants that are still outstanding and exercisable at a price of $0.10 each to acquire one common share of the Company per warrant under this accelerated expiry.  The total possible value to the Company if all warrants are exercised is $5,544,550.

This news release includes "forward-looking information", as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the success of exploration activities, price outlooks, production expectations and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

SOURCE NWM Mining Corporation

For further information:

please contact NWM Mining Corporation at (416) 364-6799.

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NWM Mining Corporation

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