2. Forward Looking Statements
This presentation includes certain "forward-looking
information" within the meaning of the Securities Act
(Ontario). All statements regarding anticipated exploration
costs, projected starting dates for production and forecasted
revenues are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that actual
exploration costs will be in line with forecasted budgets, that
the projects will commence production as anticipated or that
the projects will produce the revenue forecasted. Important
factors that could cause actual results to differ materially from
these forward-looking statements include: exploration results
that do not meet with the expectations of management,
shortage of skilled labour, shortage of appropriate
equipment and other factors disclosed under the heading
"Risk Factors" and elsewhere in NWM Mining documents filed
from time to time with the Ontario Securities Commission and
other regulatory authorities.
NWM Mining Corporation management has provided project
modelling by making assumptions about mining costs to make
inferences relating to geological material available for mining
calculations. These project models are for informational
purposes only and cannot be relied upon.
1
3. Jurisdiction
Neighbours in the Region
La Herradura & Noche Buena La Jojoba & Lluvia de Oro Dolores Gold Mine
Fresnillo & Newmont JV NWM Mining Corporation MineFinders Corporation
4.1M oz Gold Reserves 385k oz Gold Reserves 2.0M oz Gold Reserves
El Chanate Gold Mine La India Gold Mine
Aurico Gold Agnico-Eagle
1.3M oz Gold Reserve 900k oz Gold Reserves
USA
San Francisco Mine MEXICO Mulatos Gold Mine
Timmins Gold Corp Alamos Gold
1.3M oz Gold Reserves 2.2M oz Gold Reserves
Province
Mercedes Gold Mine of Pinos Altos Gold Mine
Yamana Gold Sonora Agnico-Eagle
1.0M oz Gold Reserves 3.1M oz Gold Reserves
El Sauzal Gold Mine La Cienega Gold Mine
Gold Corp Fresnillo Plc
260k oz Gold Reserves 3.1M oz Gold Reserves
2
4. Project Overview
Production Summary
Production at Lluvia commenced Q1
2012; Seeking to ramp up from approx. Projected Production
20,000oz to 35-40,000 in 2013
Over past 2 quarters, NWM has
reported operating profits of $2.1M
and $1.8M, respectively
Anticipating 2012 production to be
20,000ozs; with cash cost of $900/oz
Current Reserves of 385,000 ounces
allot for a mine life of 5yrs
Production has thus far been from
lower grade Lluvia de Oro Deposit
(0.51g/t); 0.77g/t La Jojoba Deposit
yet to be mined
Incremental ramp up planned from 8kT per
day towards 15kT per day in 2013 3
5. Project Overview
Upcoming Milestones
Implement transition from current ore Expand regional exploration
mining rate of approximately 8,000 tpm to program to develop new resources
15,000 tpm by end of 2013. including already identified targets
Expand leaching capacity to accommodate such as Gold Ridge and
ramp-up in production and to improve Campamento
leach pad gold extraction rates (currently Complete comprehensive
underway) metallurgical testwork program to
Complete drill program in early 2013 to optimize operating conditions for
expand reserves at Lluvia de Oro by further production increase through
targeting almost 200,000 ounces of inferred initiation of mining at Jojoba
resources. deposit (2014)
4
6. Project Overview
Local Geological Model
Lluvia gold mineralisation hosted within
predominantly siliciclastic rocks. Unit
consists of interbedded sandstones and
siltstones
Eastern edge sediments are thrust
fault bounded and prepared for later
high angle gold event
Gold-bearing fluids focussed along sub-
vertical faults which may have
reactivated thrust-fault structures.
Gold occurs below thrust-fault
underlying Lluvia (Creston) pit
Southwest edge of sediments contacts Jojoba appears to be hosted in highly
felsic volcanics to volcaniclastic and altered volcanic to volcaniclastic rocks in a
tectonic breccias (Gold Ridge) low angle event
5
7. Project Overview
Lluvia Mineralisation
N-S cross-section of Lluvia deposit at 496800mE, from July 8, 2010 Pre-feasibility report update and reserve
analysis. The modeled block grades clearly show the dipping nature of the gold mineralization.
6
9. Project Overview
Reserve Summary1
“A Mineral Reserve is the economically mineable part of a Mineral Resource”
–CIM Definition Standards
Lluvia de Oro Reserves La Jojoba Reserves
Tonnes of Ore Gold Grade Ounces Tonnes of Ore Gold Grade Ounces
(millions) (g/t) (oz) (millions) (g/t) (oz)
Proven 7.26 mT 0.49 g/t 115,000 oz Proven 5.29 mT 0.83 g/t 142,000 oz
Probable 4.50 mT 0.52 g/t 76,000 oz Probable 2.49 mT 0.64 g/t 52,000 oz
Total 11.80 mT 0.50 g/t 191,000 oz Total 7.80 mT 0.77 g/t 193,000 oz
Total NWM Reserves
Tonnes of Ore Gold Grade Ounces
(millions) (g/t) (oz)
Proven 12.56 mT 0.64 g/t 257,000 oz
Probable 2.49 mT 0.57 g/t 128,000 oz
Total 15.05 mT 0.63 g/t 385,000 oz
8 1) Source: July 2010 NI 43-101 Pre-feasibility study
10. Project Overview
Resource Summary1
Resource calculations are inclusive of Reserves outlined on prior page
Lluvia de Oro Resources La Jojoba Resources
Tonnes of Ore Gold Grade Ounces Tonnes of Ore Gold Grade Ounces
(millions) (g/t) (oz) (millions) (g/t) (oz)
Measured 8.08 mT 0.46 g/t 126,000 oz Measured 5.76 mT 0.82 g/t 152,000 oz
Indicated 6.99 mT 0.51 g/t 114,000 oz Indicated 2.98 mT 0.62 g/t 59,000 oz
Total 15.07 mT 0.48 g/t 240,000 oz Total 8.74 mT 0.75 g/t 211,000 oz
Inferred 10.23 mT 0.52 g/t 170,000 oz Inferred 1.74 mT 0.53 g/t 30,000 oz
Total NWM Resources
Tonnes of Ore Gold Grade Ounces
(millions) (g/t) (oz)
Measured 13.84 mT 0.61 g/t 278,000 oz
Indicated 9.97 mT 0.54 g/t 173,000 oz
Total 23.81 mT 0.58 g/t 451,000 oz
Inferred 11.97 mT 0.52 g/t 200,000 oz
9 1) Source: July 2010 NI 43-101 Pre-feasibility study
11. Project Overview
Location of Inferred Ounces
Adjacent to Current Pit Limits Pit Plan View
Ultimate Pit – Proven+Probable Reserves Only
Ultimate Pit – Including Inferred Ounces
Reserves Can Be Increased Significantly in Short Term 10
12. Resource Expansion Potential
Longer Term Exploration Programs
NWM has consolidated all land in between and around the La Jojoba & Lluvia de Oro
Deposits amounting to nearly 6,000 hectares; and is now planning to go ahead with a
comprehensive exploration program
Since acquiring the
projects, NWM has
focused on getting into
production, and minimal
exploration drilling has
been done to date
A look at the key exploration targets, including Gold Ridge and
Campamento; both display unique geological characteristics
11
13. Upcoming Drill Program
Gold Ridge: one of NWM’s key targets
Gold Ridge is an undrilled
area near Lluvia de Oro
displaying a unique
geological environment
It is a mass of quartz
porphyry, 1,400 meters long
and exposed for 200m at
surface along a ridge
NWM plans to drill 8,000m
on Gold Ridge alone
Bird’s Eye View of Gold Ridge
This image shows all the RC and core drill holes
Darker Purple and Green dots represent completed drill holes
Lighter Lavender dots are the proposed holes for Gold Ridge
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14. Project Overview
Current Operations - Recoveries
2,500
2,000
1,500
Predicted recovery
per month
1,000
Ounces to Carbon
per month (from
500 daily reports)
-
Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Recoveries from Lluvia Ore Tracking Well with Gold Leach
Curve (ultimate 60% recovery / 18-24 months)
13
15. Project Overview
Current Operations – Available Gold
18,000
Cumulative Recoverable Gold inventory
16,000
14,000
12,000
10,000
Cumulative
8,000 Recoverable
Gold inventory
6,000
4,000
2,000
-
Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Significant Inventory of Recoverable Gold Present in Leach Pads
from Mine Ramp-up (short to medium term cash flow)
14
16. Project Overview
Current Operations – Next 3 Months
Comprehensive review recently completed to identify cash flow issues related to
ramp up of production at the overall project
Decision to focus exclusively on Lluvia (Creston) area through 2013 (then phase in
Jojoba). Reasons for decision:
• Mineralisation is best understood metallurgically
• Reduces mine contractor requirements/costs by mining in one area only
• Allows for production at reduced strip ratios and gradual increase in waste
mining as cash flows improve
Critical priorities identified for short term cash flow utilisation:
• Mining exclusively in low strip ratio areas of Lluvia pit (Zone 2)
• Gradually increase free cyanide concentration in leach pad solutions
• Double area of leach pads currently under leach due to long leach cycles
(maintain total solution flow rate but decrease solution application rate)
Other short term priorities identified:
• Preparation of detailed geological model for Lluvia pit area to allow for
improved mine planning and metallurgical testwork sample selection
• Metallurgical evaluation of leaching behaviour and crush size requirements
for different zones of available mineralisation 15
17. Project Overview
Current Operations – Following 6-8 Months
Complete detailed ramp-up plan for Lluvia pit to increase production rate from
6-8000 tpd (ore) to 12-15,000 tpd while maintaining strip ratio at approximately
2/1 or less
Geological modelling and metallurgical testwork to be expanded to Jojoba deposit.
Critical data required relating to gold recovery versus crush sizes and variations
within deposit
Lluvia block model to be expanded to increase data available for mine planning:
• Metallurgical data (gold recoveries, crush sizes, etc.)
• Lithological zones
Design changes to increase solution pumping requirements at each leach pad.
Implement recirculation systems to recycle low grade solution and increase grade
of pregnant solution to ADR plant
Permitting changes to move waste dumps away from pit and over areas of site
with no potential for gold resources
Finish short term capital projects
• Lane 5 of Lluvia Dos leach pad (and new pond)
• Completion of road from Lluvia to Jojoba and solution pipe relocation
• Upgrade of inferred resources to reserves at Lluvia 16
18. Management
A team of seasoned mining professionals
Chris J. Berlet, President & CEO (BSc Mining Engineering & CFA Charterholder)
Mining Engineering Graduate from Queen’s; with an Accounting & Finance diploma from the
London School of Economics
Worked for Banque Paribas in their Capital Markets Group & for HSBC Securities
Experience in underground gold & copper mines, as well as open pit coal & copper mines in
Canada & Australia; and finally moved onto Mexico as CEO of Columbia Metals in 2007
Chris Chadder, CFO (Chartered Accountant)
Chris is a C.A. with 20+ years as a business advisor to, and senior manger of several public and
private junior resource companies
Former president and CEO of Patricia mining Corp., CFO of Ursa Major Minerals and , Auriga
Gold Corp.
Darren Koningen, Technical Advisor – Project Development (Mineral Processing Engineer)
P.Eng with 20+ years experience in metallurgical process design, project construction,
management and operations
Recently served as Vice President – Technical Services for Gowest Gold and Virgin Metals.
Notably, brought two gold mines into production (El Sastre in 2006, El Castillo 2008) as founder
and VP – Project Development/Operations/Engineering for Castle Gold (now Argonaut Gold)
17
19. Management
A team of seasoned mining professionals
Pedro Delgado, General Manager Mexican Operations (Mining Engineer)
Mining Engineer with 20+ years of diverse experience in engineering and management including
operations producing gold, coal and cement
Recently responsible as Manager for the rapid expansion of operations at El Castillo gold mine in
Durango Mexico from start-up rate of 200,000 tonnes per month in 2008 to almost 2,000,000
tonnes per month by end of 2011
Miguel Cardona – Exploration Manager (Geological Engineer)
20+ years of experience in the mining industry, primarily in exploration, but also in underground
and open pit mine operations (gold skarn, gold and silver epithermal and copper-zinc-gold type
deposits) – recently Exploration Manager for Castle Gold
Notable achievements include being part of the team that discovered the Filos Project (now
owned by Goldcorp) and also El Limon advanced stage exploration project with Teck-Cominco
Federico Alvarez, Technical Advisor - Operations (Mining Engineer)
Mining engineer with nearly 35 years experience within academia, government (Director, Mining
Affairs for state of Guanajuato) and the mining industry primarily in Mexico (manganese, coal and
gold)
Recently VP – Operations for Argonaut Gold Inc. (and its predecessor Castle Gold) where he was
responsible for ramp-up of production at El Castillo gold mine from 20,000 to +60,000 ounces per
year
Operations Group from Castle Gold
(developed El Castillo project now at +80,000 ounces annually) 18
20. Financial & Market Overview
Capital Structure
Shares Outstanding (millions) 511.6
Warrants (millions) 1.4 $0.20, Expiring Jan. 2013
Options (millions) 10.4 Average Price of $0.10
Share Price (TSX-V NWM) $0.06 52 Week Range: $0.05 - $0.12
Market Cap (mUS$) $30.7
Debt (mUS$) $18.5 GRF Note Payable
Enterprise Value (mUS$) $49.2 Calculated October 2012
Views of the Lluvia de Oro Mine-Site 19
22. Summary
Presentation Recap
Since acquiring the assets, NWM has focused on consolidating a 5,900 hectare land
package, and on transitioning into production
Recently reported first 2 profitable quarters & is now seeking to:
1) Commence exploration & drill program. Targets include expanding reserves
at Lluvia and also locating new resources on its largely unexplored land,
particularly its key target Gold Ridge, to expand resources
2) Ramp up into full production to 15,000 tonnes per day (35-40,000 oz/yr)
Opportunity to participate in a company which has only recently turned the corner from
a developer into a producer, and do so at its historically low share price
Upon paying off its debt and ramping to nearly 40,000 ounces per year, NWM has the
potential to produce over $60M a year in revenue, with Free Cash Flow of $20M /yr
Profitable Exploration
Ramping into Trading at
Company with Potential on
Full-Scale Historically
Producing Under-Explored
Production Low Prices
Asset Land
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23. Contact Information
Toronto Head Office
402 – 121 Richmond St. West
Toronto, Ontario
M5H 2K1
Web: www.nwmcorp.ca
Phone: (416) 364-6799
Email: info@nwmcorp.ca
Looking at 1,330,000 tonnes of ore under leach at Lluvia de Oro
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