 | | | August 28, 2008
North American Tungsten Releases June 30,2008 Third Quarter Financial Results - Producing 16,232 MTU's WO3 And $3 Million Increase In Sales Over The Previous Quarter
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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) June 30th, 2008, third quarter financial results.
THIRD QUARTER HIGHLIGHTS
- Sales for Q3 were $15,431,746, up from $12,471,256 in Q2
- Production for Q3 was 73,893 MTUs WO3, an increase of 16,233 MTUs WO3 from Q2
- Mactung feasibility nearing completion
- Further high grade intercepts in western extension of Cantung Mine
- Near record underground production
- Mine operating costs reduced from Q2
- The high Canadian dollar reduced sales realizations
- Net loss of $1.3 million compared to a $5.5 million loss in Q2
- Positive cash flow from operating activities
- A flow"through share offering raised $5.0 million in August
The third quarter financials were filed on SEDAR today for public access and may also be accessed from the Company's website www.natungsten.com.
WEBCAST
The Company has scheduled a webcast for Friday, August 29, 2008 2:00 pm PT/5:00pm ET
To access the live teleconference call by phone:
1 866 400 3310 - North America
1 416 850 9144 - All other countries (please consult your local operator, if you have difficulties)
Internet: To access the live webcast on the Company's website - audio only, go to http://www.natungsten.com and register, you will then be taken to a page to listen to the call.
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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