North American Tungsten Corporation Ltd NATUF

RE: Latest from Minesite

[RGS1]

I can not understand why minesite is out of touch. I have sent him the material and talked with him regarding our operation. The comment that we breakeven at these prices is WRONG. it is interesting to see Avocet starting to make money. As far as "smuggling from small mines" who knows. We have a very strong belief that our partners, Sandvik and Osram are looking for a stable WESTERN supply. It is evident in their investment in us and their request for first right of refusal on Mactung. We have not locked ourselves out of upside and the deal that was announced pertains to Cantung, Mactung is still to be negotiated. At the prices Minesite is using $71 mtu we have a VERY healthy profit. I would suggest that minesite has some sort of an agenda or just refuses to do their homework.