North American Tungsten Corporation Ltd (NATUF)

[makinezmoney]

Strongbow owns Cantung/Mactung Royalties


Strongbow To Acquire Mactung And Cantung Royalties


Strongbow Exploration Inc. (TSX-V: SBW) ("Strongbow" or the "Company") is pleased to announce that it has reached an agreement with Teck Resources Limited ("Teck") to purchase Teck's royalty interest on the Mactung and Cantung projects located in the Yukon and Northwest Territories.

Highlights
The Mactung Royalty is a 4% Net Smelter Returns Royalty on the Mactung tungsten project, which is located approximately 390km northeast of Whitehorse, Yukon, and approximately 790km west northwest of Yellowknife, NWT. The Mactung project straddles the border between Yukon and NWT. One half of the Mactung Royalty may be purchased by the property owner (to reduce the royalty to 2%) at any time for $2,500,000.
The Cantung Royalty is a 1% Net Smelter Returns Royalty related to the Cantung tungsten project, which is located in western NWT, approximately 390km east northeast of Whitehorse, Yukon, and approximately 720km west of Yellowknife, NWT.
Subject to the TSX Venture Exchange's approval of the transaction, Strongbow will pay $1,500,000 to Teck on closing of the acquisition, and make a further $1,500,000 payment to Teck on the earlier of a development decision at Mactung or re-commencement of commercial production at Cantung.

Richard Williams, President and CEO of Strongbow states, "We are extremely pleased with this transaction, which represents the first step in our plan to build a strategic metals company, with a focus on high quality assets located in supportive mining jurisdictions."