Tungsten

[Tackler]

NTC North American Tungsten begins CanTung mining

2005-09-01 12:04 ET - News Release

Mr. Stephen Leahy reports

OPERATIONS UNDERWAY AT CANTUNG MINE

North American Tungsten Corp. Ltd. has successfully started mining operations at its wholly owned CanTung mine, located on the Northwest Territories-Yukon border.

To date in excess of 35,000 tons of open pit and underground ore have been assembled for milling. The mill is currently processing approximately 900 tons of ore per day, ramping up to its full-rated production capacity of 1,025 tons of ore per day in October.

The corporation's initial shipments of tungsten concentrate are expected to take place in September. CanTung's annual output of 400,000 metric tonne units of tungsten concentrate will represent approximately 7 per cent of global tungsten production.

The recent dynamics of the global tungsten market, dominated by China, has led to record prices in 2005 for this strategic industrial metal. That the corporation has succeeded in bringing CanTung back into production in only three months is a testament to the dedication and diligence of its employees and staff. North American Tungsten also wishes to express its gratitude to its financiers and shareholders for their vision and confidence, and to all those whose efforts have contributed to this historic achievement.

With production under way the CanTung mine has reassumed its role as the Western world's pre-eminent source of tungsten.