North American Tungsten Corporation Ltd.
TSX VENTURE : NTC

North American Tungsten Corporation Ltd.

July 10, 2007 08:00 ET

North American Tungsten Achieves Record Quarterly Revenue

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2007) - North American Tungsten Corporation Ltd. (TSX VENTURE:NTC) -

HIGHLIGHTS:

- Sales of Cantung tungsten concentrate result in record quarterly revenue.

- 23% increase in year over year Cantung Q1 to Q3 revenue.


CANTUNG MINE

North American Tungsten Corporation Ltd. (the "Company") is pleased to announce that for the quarter ended June 30, 2007, tungsten concentrate sales (WO3) of 82,099 MTUs (Metric Tonne Units) resulted in record quarterly revenue of US$16 million (Table 1).

The average price per MTU sold was US$195.15. Sales revenues were comprised of both contract and spot transactions. The company's year to date (Q1 to Q3) revenue of US$39.99 million shows that the company is well on track to surpassing the 2006's full year revenue of US$45.15 million.

The Company's commitment to improving Cantung operations is demonstrated by the recent production and revenue figures. The company produced 22,923 MTUs in June 2007, bringing Q3/07 production to 80,077 MTUs, which is a 14% increase from the previous quarter (Table 2).



Table 1: Comparison of audited 2006 (Financial Year Sept. 30) to unaudited
2007 (Year to Date) sales figures.
2006 US$45.15 million
Q1/07 US$12.06 million
Q2/07 US$11.91 million
Q3/07 US$16.02 million
2007 US$39.99 million

Table 2: Comparison of calendar 2007 monthly production figures.
January 19,988 MTUs
February 24,472 MTUs
March 25,998 MTUs
Total Q2/07 70,458 MTUs

April 30,600 MTUs
May 26,554 MTUs
June 22,923 MTUs
Total Q3/07 80,077 MTUs (14% increase from Q2/07)


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

Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • North American Tungsten Corporation Ltd.
    Toni Williamson
    Investor Relations, Corporate/Business Development
    (604) 684-5300
    (604) 684-2992 (FAX)
    Email: ir@natungsten.com
    Website: www.natungsten.com