NWM Provides Lluvia-Jojoba Mine Update & Announces New CFO
TORONTO, July 7, 2011 /CNW/ --
TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 403,545,785
TORONTO, July 7, 2011 /CNW/ - NWM Mining Corporation (the 'Company'
TSX-V: NWM) announces that it has produced 303 oz. Au in May and 589
oz. Au in June of this year (2011) from the Lluvia de Oro gold mine.
The quarter ending June, 2011 represents the first quarter for Company
revenue. Production expectations for the balance of 2011 range from
10,000-14,500 oz. Au and for next year (2012) range from 35,000 to
42,000 oz. Au.
'The commissioning of Lluvia de Oro gold mine has been completed
successfully and we look forward to providing further gold production
updates as the project ramps up through the balance of 2011 and into
2012. NWM remains un-hedged at this time', said Chris Berlet, CEO of
NWM.
NWM Mining Corporation ('NWM') is pleased to announce the appointment of
Mr. Christopher Chadder as Chief Financial Officer. Mr. Chadder is a
Chartered Accountant with over 20 years experience as a business
advisor and senior officer to junior resource companies. Mr. Chadder
will work with current management to enhance the company's business
development, financial compliance and financial reporting strategies.
The Company also announces that Mr. Dennis Waddington has stepped down
as CFO to pursue other opportunities. 'Dennis has contributed a great
deal to Company management in the early stages of development of the
Lluvia-Jojoba project', said Chris Berlet. 'We would like to thank
Dennis for contributing to the development of the Company and the
Lluvia de Oro and La Jojoba gold mines through successful start-up.'
NWM Mining is an emerging gold mining company with two gold ore bodies
containing NI 43-101 compliant gold reserves and resources. The Company
is focused on demonstrating profitable operations at the Lluvia de Oro
mine and growing its reserves through exploration and development,
primarily in Sonora, Mexico.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/07/c3807.html
please contact NWM Mining Corporation at (416) 364-6799