North American Tungsten Corporation Ltd.
TSX VENTURE : NTC

North American Tungsten Corporation Ltd.

February 29, 2008 18:04 ET

North American Tungsten Releases December 31, 2007 First Quarter Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2008) - Mr. Stephen Leahy, Chairman and CEO, announces the release of the North American Tungsten Corporation Ltd. (the "Company") (TSX VENTURE: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 MTU's 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, 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.

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