TSX Venture Exchange
Shares Outstanding: 222,541,863
TORONTO, Aug. 20 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) announces that it has made a second drawdown of US $2,000,000 under the Standby Facility for US $6,000,000 (the "Facility") with Renvest Mercantile Bancorp through its Global Resource Fund ("Global") that was announced in NWM's press release of June 17, 2010. Uses of proceeds from the Standby Facility include funding for gold production at the Lluvia-Jojoba mine project and general working capital.
NWM's subsidiary Minera Columbia de México S.A. de C.V. recently executed an agreement for contract mining services at its Lluvia-Jojoba project with established contractor Terracerias y Triturados de Cananea, S.A. de C.V. of Cananea in the State of Sonora, Mexico. The contract is for a period of two years and payments to the contractor are directly related to volumes of rock produced and transported. This week, the first two rounds of blasting have taken place at the Lluvia de Oro gold mine and material handling has commenced.
In connection with this second drawdown from the Facility, the Company has issued to Global 666,668 common shares that are subject to a four month hold period ending December 21, 2010.
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: For further information: please contact NWM Mining Corporation at (416) 364-6799.