Ubika Research has issued a research bulletin on the drill results announced by NWM Mining Corp. (TSXV: NWM) on July 20th 2010 in a report titled, " Encouraging initial drill results – may result in expansion of the mineralized zone” (dated July 21, 2010).

What is interesting about NWM?
NWM Mining Corporation (NWM) is an advanced stage exploration company, which has NI 43-101 compliant proven and probable reserve estimate of just under 370,000 ounces of gold based on historical drilling. The company is well capitalized and is currently implementing an extensive drill program to expand its reserves. NWM also has the permits required to start mining and to produce gold, and has an ADR and also a SART plant up and running, ready to start gold production.

NWM properties are situated in a well known exploration belt. NWM’s Lluvia-Jojoba property has a similar geological structure to the nearby El Chanate gold mine which is today producing 60,000 ounces of gold per year and operated by Capital Gold Corp (AMEX:CGC)

Ubika Research believes NWM Mining Corp has the potential to both expand its reserves and become a gold producer in the near term. NWM Mining Corp (TSXV:NWM) is rated “Speculative Buy” by Ubika Research, with a target price of C$ 0.49.

Download the initiation report and this research bulletin for free at http://www.smallcappower.com/microsite/research_reports.aspx?CompanyID=34

Please also view our CEO video interview with NWM Mining Corp CEO Mr. Chris Berlet at
http://www.smallcappower.com/microsite/CEO_Video_Interview.aspx?CompanyID=34