North American Tungsten Corporation Ltd.
TSX VENTURE : NTC

North American Tungsten Corporation Ltd.

June 06, 2013 20:00 ET

North American Tungsten Corporation Announces Change in Executive Leadership

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2013) - North American Tungsten Corporation Ltd. (the "Company" or "NTC") (TSX VENTURE:NTC) today announced that the board has appointed Kurt Heikkila, current Chairman of the board, as interim CEO and President. He will hold these positions on an interim basis to lead the Company while the board conducts a search for a successor to Stephen Leahy who stepped down as Chief Executive Officer, President and as a member of the board of directors to facilitate the next stage of the Company's development. The Company also announces the appointment of Dennis Lindahl as Interim Chief Financial Officer succeeding Harold Schwenk who will undertake other duties with the Company.

Steve Leahy, as the founder of NTC, has made important contributions throughout his period of leadership. He arranged the acquisition of the MacTung deposit and the CanTung mine. The current CanTung mine operations and the advanced state of permitting of MacTung are his legacy. He also contributed to the tungsten industry as a whole through his dedicated efforts to the International Tungsten Industry Association (ITIA).

Kurt Heikkila has served as a director on NTC's board since 2009. He is an experienced business innovator and industrial problem-solver, successfully leading in both enterprise environments and entrepreneurships. He has held management positions in large companies including DuPont de Nemours & Company and Andersen Corporation. He has founded several companies including, Wild River Consulting and Tundra Companies where he currently serves as President and CEO.

"We would like to thank Steve for his years of service to NTC and the industry and wish him well in future endeavors," Kurt Heikkila said. "I have full confidence in our strong CanTung operating group who drives the important priorities of the Company. The board remains committed to making CanTung a long term operating mine and developing MacTung."

ON BEHALF OF THE BOARD OF DIRECTORS

Kurt E. Heikkila, Chairman and Interim President & CEO

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.

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

Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation: Except for the statements of historical fact contained herein, the information presented contains "Forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and similar Canadian legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variation of such words and phrases that refer to certain actions, events or results to be taken, and other factors which may cause the actual results, performance or achievements of North American Tungsten Corporation Ltd. To be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of reclamation activities, the estimation or realization of mineral reserves and resources, the timing and amount of estimated future production, costs of production, capital expenditures, future prices of commodities, possible variations in ore grade or recovery rates, efficacy and efficiency of milling process, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes and other risks in the mining industry. Although North American Tungsten Corporation Ltd. has attempted to identify important factors that could cause actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained herein and in North American Tungsten Corporation Ltd.'s other filing incorporated by reference.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • North American Tungsten Corporation Ltd.
    Investor Contact
    +1.604.684.5300
    +1.604.684.2992 (FAX)
    info@natungsten.com