 | | | February 29, 2008
North American Tungsten Releases December 31, 2007 First Quarter Financial Results
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| | VANCOUVER, BRITISH COLUMBIA: Mr. Stephen Leahy, Chairman and CEO, announces the release of the North American Tungsten Corporation Ltd (the "Company") (TSX-V: NTC) December 31st, 2007, 1st quarter financial results.
FIRST QUARTER HIGHLIGHTS
- Mactung advanced to the Feasibility Study Stage.
- High grade drill results highlight upside at the Cantung Mine -- highlights include 88.8ft
@ 3.26% WO3 and 140ft @1.46 WO3.
- Completed tolling arrangement in China to upgrade flotation concentrate to APT.
- Independent engineering audit and review of the Tungsten Joint Venture Pilot Plant
commenced.
- Q1/08 working capital of $7.5MM compared to $1.6MM in Q1/07.
- Q1/08 production of 65,297 MTU's compared to 60,584 MTUS in Q1/07.
- Q1/08 revenue of $11.9 compared to $13.8 million in Q1/07.
- Q1/08 operating cash flow (before working capital changes) of $(2,777,510) compared
to $(127,112) in Q1/07.
The first quarter financials were filed on SEDAR for public access and may also be accessed from the Company's website www.natungsten.com.
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 both a producing mine and strategic development 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"
Stephen M. Leahy, Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.
INVESTOR CONTACT:
Toni Williamson, Corporate Geologist
info@natungsten.com, Phone: +1.604.684.5300 Fax: +1.604.684.2992 |
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| | You can view the Next News Releases item: Mon Mar 3, 2008, North American Tungsten Announces First Quarter Cantung Diamond Drilling Results
You can view the Previous News Releases item: Tue Jan 29, 2008, North American Tungsten Releases September 30, 2007 Fourth Quarter Financial Results
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