VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2007) - North American Tungsten Corporation Ltd. (TSX VENTURE:
NTC -
News) -
HIGHLIGHTS:
- 23% increase in overall tungsten production at the Cantung Mine from Q1 to Q4.
- Cantung September production recovery remains high at 76% WO3.
- Average monthly APT price increases from August.
CANTUNG MINE
North American Tungsten Corporation Ltd. (the "Company") is pleased to announce the 2007 Q4 production figures from the Cantung Mine.
The Company produced 21,323 metric tonne units (MTUs) of tungsten concentrate (WO3) in September, 2007, bringing Q4/07 production to 74,553 MTUs, an increase of 23% from Q1 this fiscal year (see Table 1).
The Company's commitment to improving Cantung operations is demonstrated by the increase in production each fiscal quarter when compared to Q1.
The average grade and recovery for September were 0.99% WO3 and 76%, respectively.
The average Metal Bulletin price for Ammonium Paratungstate during September was approximately US$243.69 per MTU, up US$5.46 from August (US$238.23).
Table 1: Comparison of calendar 2007 monthly production figures. October 24,160 MTUs November 16,574 MTUs December 19,851 MTUs Total Q1/07 60,585 MTUs January 20,066 MTUs February 24,472 MTUs March 25,998 MTUs Total Q2/07 70,536 MTUs (16% increase from Q1/07) April 30,881 MTUs May 26,554 MTUs June 22,922 MTUs Total Q3/07 80,357 MTUs (33% increase from Q1/07) July 31,276 MTUs August 21,954 MTUs September 21,323 MTUs Total Q4/07 74,553 MTUs (23% increase from Q1/07) Total Fiscal 2007 286,031 MTUs
ABOUT NORTH AMERICAN TUNGSTEN CORPORATION LTD.
The Company is a publicly listed Tier 1 Junior Resource Company engaged primarily in the operation, development, and acquisition of tungsten and other related mineral properties in Canada. The Company's 100% owned Cantung mine and Mactung development project make it one of the few tungsten producers with a strategic asset in the western world. Mactung is one of the world's largest known undeveloped high grade tungsten-skarn deposits.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen M. Leahy, Chairman & CEO