NWM Mining Corporation Closes Over-subscribed Non-Brokered Private Placement

    TSX Venture Exchange
    Symbol: COL
    Shares Outstanding: 96,970,527

    TORONTO, Feb. 4 /CNW/ - NWM Mining Corporation "NWM" (TSX-V: COL) is
pleased to report that its private placement financing for 5,000,000 units at
$0.05 per unit, announced January 28, 2009 is now closed, and was over
subscribed by 1,024,000 units at $0.06 per unit. Gross proceeds of $311,440
CAD have been received. This represents 6,024,000 units with each unit
consisting of one common share of NWM and one common share purchase warrant
("Warrant"). Each Warrant is exercisable for one NWM share at a price of $0.10
until August 4, 2010.
    The common shares and warrants comprising the units will be subject to a
hold period, ending June 5, 2009, of four months plus one day from the date of
issuance in accordance with the policies of the TSX Venture Exchange and
applicable securities laws. The private placement offering is subject to
regulatory approval and the completion of definitive documentation.
    Finder's fees totalling $21,300 have been paid in relation to this
private placement. Proceeds of the offering will be used for general working
capital. Directors and insiders have subscribed for 12% of this private
placement financing.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00004373E

For further information:

For further information: NWM Mining Corporation at (416) 364-6799

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NWM Mining Corporation

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