North American Tungsten Corporation Ltd NATUF

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https://www.ccnmatthews.com/news/releases/show.jsp?action=showRelease&searchText=false&showText=all&actionFor=593818 MAY 10, 2006 - 07:00 ET North American Tungsten Corporation: Announces Expansion of Exploration Efforts in the Yukon VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 10, 2006) - North American Tungsten Corporation Ltd. ("NTC" or the "Company") (TSX VENTURE: NTC) is pleased to announce that it has entered into an option agreement on the Tootsee River Property (27 Yukon Quartz claims owned by NTC) located near the BC Yukon border about 85 kilometers west of Watson Lake. Previous work on the Tootsee tungsten molybdenum property consisted of mapping, geochemical sampling, geophysical surveying and diamond drilling. These programs, carried out in the early 1980's, identified the presence of tungsten (scheelite) and molybdenite mineralization in a possible stockwork. The option agreement calls for Cumberland Resources Ltd. ("Cumberland") to carry out expenditures totaling $400,000 on the Property by December 31, 2007 to earn a 50% interest in the Property. Cumberland is proposing an initial program airborne geophysics and exploration drilling in 2006, subject to availability of contractors. If Cumberland expends $400,000 on the Property it may elect (prior to December 31, 2007) to earn an additional 20% (for a total of 70%) interest in the Property by agreeing to spend an additional $4,000,000 the Property on or before December 31, 2010. NTC and Cumberland may form a joint venture depending on the interest earned by Cumberland in the Property. NTC may elect within two months of Cumberland earning a 70% interest in the Property to convert its 30% interest into a 2.5% NSR. ON BEHALF OF THE BOARD OF DIRECTORS Stephen M. Leahy, Chairman & CEO