HOUSTON, Jan. 21, 2009 (GLOBE NEWSWIRE) -- Cotton & Western Mining, Inc. (Pink Sheets:CWRN) announces China Steel Makers have been buying iron ore from India with December seeing an increase of raw materials imported. Forecasters believe that within the first half of year 2009, some upward movement of spot market supplies will improve. High grade magnetite iron ore such as the CWRN Baja California, Mexico iron deposits are still viable to the market and CWRN is receiving many inquiries for high grade crude iron ore. The company's funding source has asked for re-price negotiations to begin in February 2009, and it is expected that by the time the project is ready for production, market conditions will be greatly improved. The project is still economically viable at 2004 contract prices.
CWRN expects to proceed with the project within the first quarter of year 2009.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.