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Gold/Mining/Energy : North American Tungsten -- Ignore unavailable to you. Want to Upgrade?

To: Scripts who wrote (112)	10/27/1999 11:51:00 PM
From: Dan P	Read Replies (1) \| Respond to of 133

NTC Release: Subj: Stockwatch: North American Tungsten Corporation Ltd - News Release Date: 10/27/99 5:18:03 PM Central Daylight Time From: newsout@stockwatch.com To: danpaloyan@aol.com North American Tungsten say consumers face rising prices North American Tungsten Corporation Ltd NTC Shares issued 26,237,364 Oct 26 close $0.31 Wed 27 Oct 99 News Release Mr. Udo von Doehren reports The management of North American Tungsten recently attended the annual ITIA Tungsten conference held in Fukuoka, Japan. At the conference, whose delegates represented most of the worldwide tungsten industry, a dramatic policy shift was announced by the Chinese delegation. The Chinese, which control nearly 80 per cent of the world tungsten market, declared that all of the state-owned tungsten mines have now been placed into a newly formed corporation known as the China Tungsten Mining & Smelting Group. This will allow the Chinese producers to better manage and rationalize their tungsten assets both from a production and a pricing standpoint. They further stated that their immediate goal is to create additional value-added business by limiting exports of tungsten concentrate and expanding their own refining and smelting capacities, thus limiting exports. In addition, the Chinese announced the banning of private tungsten production and closure of mining and production facilities that do not meet more stringent operational, safety and environmental standards. These control measures are expected to restrict the supply of tungsten produced in China to approximately 18,000 tonnes per year, which represents a massive reduction from the 30,000 tonnes per year range over the recent past. Needless to say, this has caused concerns amongst western-based tungsten refineries and consumers. These new initiatives have already started to increase the price of tungsten as the potential impact of a restricted supply is impacting on the consumer. These price rises have caused the company to review its start-up plans for the CanTung mine. As previously reported, demand for tungsten is on the increase. Environmental concerns about lead pollution in the soil and the associated reclamation costs at shooting ranges have caused the U.S. Military to phase in the use of tungsten core for its bullets, replacing the current lead-based ordinance. Other new markets include civilian and law enforcement agencies and shooting ranges, as well as a wide range of products used in the recreational field. In addition, tungsten has a wide range of industrial uses, the largest of which is as tungsten carbide. It is used by the metalworking, drilling and construction industries. As general economic conditions are expected to increase, they will further add to the strengthening of the tungsten commodity price. North American Tungsten Corporation Ltd., with its 100-per-cent ownership of the CanTung Mine and the MacTung deposit, are definitely pleased with these changes in market developments. The company's assets represent the western world's largest high-grade proven tungsten reserves and comprise approximately 15 per cent of the world's resource base. The CanTung mine, which is under care and maintenance, could be restarted quickly to fill expected shortages in the tungsten supply chain. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: Scripts who wrote (112)	1/8/2002 9:06:39 AM
From: Dan P	Respond to of 133

News Release: good news on progress on Cantung mine: North American Tungsten CanTung production on schedule North American Tungsten Corp Ltd NTC Shares issued 27,332,364 Jan 4 close $0.75 Mon 7 Jan 2002 News Release Mr. Udo von Doehren reports PRODUCTION RESTART PROGRESS REPORT Production at North American Tungsten Corp.'s CanTung mine, located in the Northwest Territories, 310 kilometres northeast of Watson Lake, Yukon, is on schedule for the first shipment of tungsten concentrates to leave the mine this month, as reported in Stockwatch on Oct. 25, 2001. The mine site infrastructure has stood the test of unusually heavy snowfalls and temperatures down to -37 degrees, with no interruption to the work in progress. Rehabilitation of the mine, mill and plant is complete. In December, 2001, the power generating capacity was increased to meet full production requirements. Work in progress consists of testing power, water, compressed air and control systems. The mining equipment fleet is being supplemented and prepared for production. This work was continued through the Christmas season, albeit at a reduced pace. From the initial site visit by contractors in mid-July, 2001, the mine was advanced to the production stage over a six-month period. In early December, the outside contractors completed their assigned work. The company's own work force, consisting of 130 employees, 90 of whom are on-site, was fully recruited and assumed all operating and maintenance activities. All the necessary supply and service contracts, such as transportation of concentrates, transport of personnel, back-haul of fuel, catering and supply of high volume consumables, are in place. As previously announced, all of the tungsten concentrate to be produced at the CanTung mine has been presold to the company's strategic allies, with a guaranteed floor price. The annual concentrate production is budgeted to exceed 300,000 metric tonne units (mtu) (10 kilograms = one mtu). The company's president and chief executive officer, Udo von Doehren, stated: "We are extremely pleased that our CanTung mine will resume its position as the western world's largest producer of high-grade, clean, tungsten concentrates, and that our company has established a long-term, mutually beneficial, strategic alliance with two of the world's leading producers of tungsten products, cemented carbides and consumers of tungsten ore. With our seasoned and enthusiastic management and operating team, we are determined to operate the mine to its fullest potential for the benefit of our shareholders. I would like to acknowledge the support and co-operation we have received from our shareholders, strategic allies, contractors, suppliers, First Nations neighbours and government officials, all of whom have made it possible to restart tungsten production". North American Tungsten Corp. owns 100 per cent of the CanTung mine and the MacTung deposit. These assets represent the western world's largest high-grade tungsten reserves and comprise some 15 per cent of the world's resource base.