Good... I see he's on the cc: list for the e-mail

Good... I see he's on the cc: list for the e-mail I received from Yonghong Zhao.

Dear Mr.John Elsden?

Now we are just discussing with CWRN about the supply of iron ore, if they have qualified products we will buy it.

We have no joint venture with them.

Above information is for your reference.

Best Regards,

Yonghong Zhao

Baosteel America Inc.

L.A. Office

18881 Von Karman Ave. Suite 1180

Irvine , CA 92612 USA

Tel: 949-752-6789, Mobile:949-439-9488

Fax:949-752-1234

Email: yonghong@baosteelusa.com

Website: www.baosteel.us

---

???? baosteelbai

????? 2012-05-02 21:41:02

???? Zhuang Fu; Zhong Hao; Zhihui You; Zhenning Jacky Deng; Yuyong Rao; Yue Yu; Yonghong Zhao; Yong Gu; Yi Steven Huang; Xingrong Huang ; Wenxiu Ding; Shiyang Chen; Ming Yang; Lin Zhang; Li Qing; Lang Zhao; Jin Bin; Jianyi Liu; Jianhao Zhao; Jiang Stephen Hong; Bo Yang; Binghua Qin; Berhan Tsehai; Annie You Ma; Lu Hou

???

??? Fw: Iron Ore Partners

----- Original Message -----

From: Elsden

To: bai@baosteelusa.com

Sent: Tuesday, May 01, 2012 4:36 PM

Subject: Iron Ore Partners

Hello.

I'm an investor in a small iron ore mining stock listed on the OTC and it is rumored that the company, Cotton & Western Mining (CWRN.PK) is on your corporate radar for procurement of iron ore and a potential joint venture in a concentration plant to be built on their Baja Mexico mine site.

I'm inquiring whether or not this is something you can comment on, as it's been stated by Cotton & Western's management that your company has expressed such interest.

As a concerned shareholder of CWRN, I'm simply trying to expand my due diligence as best I can to determine if such potential might merit me adding to my already sizable position. I clearly am not asking for anything which might be construed as insider info. A yes or no concerning any interest is sufficient, since CWRN has already made a statement. http://finance.yahoo.com/news/cwrn-wide-area-...00479.html

"Management has been discussing the feasibility of building a concentration plant on site with the corporation of Bao Steel Group of China , provided that there is enough magnetite mineral reserve to justify the investment; therefore, the company has begun a series of new and deeper drilled-holes on a wide-area bases to establish parameters for an accurate calculation of available mineral reserves."

Any information you might be able to provide is greatly appreciated. And please let me know if I'm directing this to the wrong parties. I've sent this to you because a person in one of the photos is purported to be involved with North American procurement. I believe his name is Zhao.

Sincerely,

John Elsden

Reedville, VA

elsden@kaballero.com

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