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Last updated on April 18, 2014 at 21:21 EDT

NWM reports a net income of $881,003 for Q3. 2012

November 29, 2012

TSX Venture Exchange
Symbol: NWM

TORONTO, Nov. 29, 2012 /CNW/ – NWM Mining Corporation (the “Company”
TSX-V: NWM) is pleased to report an operating profit of $21,003 (net
income $881,003) for the quarter ended September 30, 2012.

Q3. 2012 highlights:

        --  Gold and silver revenues during the quarter amounted to
            $7,175,710.
        --  The Company produced 4,329 ounces of gold in the third quarter.
        --  Pre-stripping was completed during the quarter on a number of
            key areas of the mine.
        --  The strip ratio rose to 3.27:1 as the company completed waste
            stripping on the pit extension and in areas that were required
            to have over burden removed prior to accessing mineable ores.
            The Life of Mine strip ratio for Lluvia de Oro is just under
            1.4:1 and the waste to ore stripping ratio will revert towards
            the Life of Mine average in subsequent quarters which is
            expected to improve the economics of mining going forward.

Summarized interim financial and operating results for the quarter were
as follows:

     _____________________________________________________________________
    |             |      Three months ended   |       Nine months ended   |
    |_____________|___________________________|___________________________|
    |             |September 30,|September 30,|September 30,|September 30,|
    |             |    2012     |    2011     |    2012     |    2011     |
    |_____________|_____________|_____________|_____________|_____________|
    |Gold produced|        4,329|        2,846|       13,919|          913|
    |(oz)         |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Gold sold    |        4,728|        2,454|       14,028|          921|
    |(oz)         |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Average      |        1,668|        1,753|        1,640|        1,612|
    |realized gold|             |             |             |             |
    |price        |             |             |             |             |
    |(US$/oz)     |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Average gold |        1,652|        1,708|        1,652|        1,535|
    |price (London|             |             |             |             |
    |PM Fix)      |             |             |             |             |
    |(US$/oz)     |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Cash cost per|        1,121|          n/a|          863|          n/a|
    |gold ounce   |             |             |             |             |
    |($/oz)       |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Metal        |    7,175,710|          n/a|   21,756,163|          n/a|
    |revenues ($) |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Profit from  |       21,003|  (2,246,485)|    3,993,593|  (5,271,119)|
    |operations   |             |             |             |             |
    |($)          |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Earnings ($) |      881,003|  (2,246,356)|    3,993,593|  (5,266,327)|
    |_____________|_____________|_____________|_____________|_____________|
    |Earnings per |        0.002|      (0.005)|        0.008|      (0.013)|
    |share, basic |             |             |             |             |
    |($)          |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Earnings per |        0.002|      (0.005)|        0.008|      (0.013)|
    |share,       |             |             |             |             |
    |diluted ($)  |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Cash from    |    2,068,251|    (735,212)|    6,283,208|  (2,718,338)|
    |operations   |             |             |             |             |
    |($)          |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|
    |Total assets |   54,525,860|   40,957,516|   54,525,860|   40,957,516|
    |($)          |             |             |             |             |
    |_____________|_____________|_____________|_____________|_____________|

Summarized production statistics for the quarter were as follows:

     _____________________________________________________________________
    |               |        Three months ended|         Nine months ended|
    |               |              September 30|              September 30|
    |_______________|__________________________|__________________________|
    |               |   2012  |      2011      |   2012  |      2011      |
    |               |         |(Pre-production)|         |(Pre-production)|
    |_______________|_________|________________|_________|________________|
    |Ore mined      |  659,726|         851,265|2,118,125|       1,704,943|
    |(tonnes)       |         |                |         |                |
    |_______________|_________|________________|_________|________________|
    |Average ore    |     0.37|            0.56|     0.39|            0.52|
    |mined grade    |         |                |         |                |
    |(g/t Au)       |         |                |         |                |
    |_______________|_________|________________|_________|________________|
    |Waste mined (t)|2,155,604|         859,485|3,663,669|       2,535,029|
    |_______________|_________|________________|_________|________________|
    |Total mined (t)|2,815,330|       1,710,750|5,781,794|       4,239,972|
    |_______________|_________|________________|_________|________________|
    |Strip ratio    |     3.27|            1.01|     1.73|            1.49|
    |_______________|_________|________________|_________|________________|
    |Total days in  |       92|              91|      273|             273|
    |period         |         |                |         |                |
    |_______________|_________|________________|_________|________________|
    |Average ore    |    7,171|           9,355|    7,759|          6,2456|
    |mined per day  |         |                |         |                |
    |(t/d)          |         |                |         |                |
    |_______________|_________|________________|_________|________________|
    |Gold produced  |    4,329|           2,846|   13,919|           3,759|
    |(oz)           |         |                |         |                |
    |_______________|_________|________________|_________|________________|

“We are pleased with the results of the third quarter of commercial gold
production at Lluvia de Oro. NWM remained profitable despite
undertaking a significant amount of waste stripping. A reversion to
lower strip ratios in subsequent quarters will assist in yielding
higher profitability going forward. The waste to ore stripping ratio
for the quarter averaged 3.27:1 where the Life of Mine average for
Lluvia de Oro is closer to1.4:1,” stated Chris Berlet, CEO of NWM.

NWM is an emerging gold producer with two currently defined ore bodies
containing NI 43-101 compliant gold reserves and resources. The Company
is focused on demonstrating profitable operations at the Lluvia de Oro
and La Jojoba gold mines, and on growing reserves and resources through
exploration.

For more information please see NWM’s website at www.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

SOURCE NWM Mining Corporation


Source: PR Newswire