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NWM Mining Corp Edges Lower on Lluvia de Oro Gold Mine Update

NWM Mining Corporation (NWM.V) announces that it has produced 303 oz. Au in May, 589 oz. Au in June and 1,150 oz. Au in July of this year (2011) from the Lluvia de Oro gold mine. It said production in each of the first three months of operation has exceeded budgeted expectations. Production expectations for the balance of 2011 range from 9,000-13,500 oz. Au and for next year (2012) range from 35,000 to 42,000 oz. Au.

"The commissioning of Lluvia de Oro gold mine is progressing as planned with all costs equal to or less than budget while actual gold production is outperforming budgeted expectations in the early months of this new mine. The mining rate for July was increased above the budgeted rate, as few problems or complications have been encountered during commissioning. This will result in the mine reaching its normal operating production rate sooner as more ore than anticipated is now available for processing. The effect of this mining rate increase will start to be realized in the third quarter of 2011 as actual gold production should continue to outperform the production budget, as has been the case from May to July 2011. Further guidance on costs, will be forthcoming in the early fall of 2011," the company said in a statement.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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