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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
Message: NWM Q2 2011 Results and Lluvia‐Jojoba Project Update
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August 29, 2011 Symbol: NWM NWM Q2 2011 Results and Lluvia TORONTO, ON
V: NWM) is pleased to report its
unaudited financial results for the second quarter ended June 30, 2011. The summary of the selected financial information should be read in conjunction with the unaudited financial statements and the related management's discussion and analysis dated August 29, 2011 together referred to as the "Financial Statements", which have been filed on SEDAR (
) and the Company's website
(
). All figures are in Canadian dollars unless otherwise noted.
Highlights for the quarter ended June 30, 2011:
Gold production began in May, 2011 and 1,064 ounces of gold were produced for the quarter ended
June 30, 2011.
Net Loss for the quarter was $1,434,201 or $0.004 per share as compared to $1,219,227 or $0.01 per
share in the same quarter of 2010. Since the company has not declared commercial production at the Lluvia
production revenue has been applied against capitalized preproduction
expenditures. The Company reported no operating revenue for the three months ended June 30, 2010.
460,480 tonnes of ore was stacked on the leach pads, containing approximately 8,400 ounces of gold.
Exploration activities to expand the identified ore zones at Lluvia continued through the quarter,
mainly consisting of air
up by diamond drilling.
Lluvia Site Activity:
Two new pad extensions at Lluvia, totalling 30,000 square meters were completed and were loaded with
ore and placed under leach in the quarter. During the second quarter, construction work began on the
Lluvia Dos leach pad facility. Starting the last week in August, this new leach pad was commissioned and
started to receive ore.
Current Results and Outlook:
Based on progress to date, and realization of assumptions and targets outlined in this MD&A and in the
Company’s press releases of April 27 and 28 and May 31, 2011 and the NI 43
‐
101 technical report of
July, 2010, the following points summarize an outlook of expected developments.
Page 2 of 2
NWM Mining Corporation
402 – 121 Richmond Street West
Toronto ON, M5H 2K1, Canada
Phone: (416) 364-6799
Fax: (416) 364-2595
Recent NWM gold production has been stronger than anticipated with gold production in May, June
July and August meeting or exceeding budgeted targets.
Gold production for the first 28 days of August was 1,440 ounces of gold with the anticipation that
continued production will approximate budget by the end of the month.
Approximately 1,065 ounces of gold was produced by the end of June, 2011 and an additional 10,000
ounces is expected to be produced by the end of 2011.
Approximately 5 million tonnes containing over 100,000 ounces of gold will be stacked and under
leach by the end of 2012, with approximately 50,000 ounces recovered.
Expansion of the gold extraction circuits will proceed during the year as volume increases. The
second train of carbon columns, increasing capacity to 1600 GPM (363 cubic meters per hour), was brought on line during the first part of August 2012.
Reserves at the Jojoba deposit will continue to be developed and will begin to contribute to
production by the end of the first Quarter of 2012.
Copper content at the Lluvia deposit is manageable and gold recovery is as anticipated.
ASPN technology is being advanced to handle the Jojoba deposit’s higher copper levels.
The mine site and all administrative support facilities are now fully staffed and operational.
Summary
During Q2 2011 NWM commenced gold production, a milestone for the company. NWM continued to
advance the Lluvia site by extending the size of the leach pads. The Company continued to adjust its
cost structure, both on the operational and administrative side. The Company also continued to advance
the exploration program at Lluvia and Jojoba. NWM continues to focus on ramping up gold production
while improving the efficiency of its new gold production processes.
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. For more information please see NWM’s website at
www.nwmcorp.ca
Contact: Chris Berlet, President & CEO or Chris Chadder, CFO
Phone: 416
‐364‐6799 Fax: 416‐364‐
2595
info@nwmcorp.ca
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
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