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North American Tungsten Corp.

Publié le 09 septembre 2014

North American Tungsten's Mactung Project Receives Regulatory Approval

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North American Tungsten's Mactung Project Receives Regulatory Approval

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 9, 2014) - North American Tungsten Corporation Ltd. (TSX VENTURE:NTC) ("NTC" or "the Company") announces that the plan to develop the Company's Mactung Project ("Mactung"), a tungsten property in Yukon, has received environmental approval. After a deliberative process which began in 2008, Mactung's positive environmental assessment from the Yukon Environmental and Socio-economic Assessment Board ("Board") has been further certified by the Federal and Yukon Governments. The governments issued Decision Documents which will permit the Company to move forward in the regulatory process.

Published under the Yukon Environmental and Socio-economic Assessment Act, the Decision Documents include a series of terms and conditions that North American Tungsten must incorporate into Mactung Project's design and operations in order to mitigate the mine's impact on the site located northeast of Ross River, Yukon.

"I can't express strongly enough the importance of this decision to our Company," NTC's Chairman and CEO, Kurt Heikkila said. "We are very pleased with the decision of the Board and of the governments whose further approval was required. This decision forms the basis for our next set of efforts to be one of the largest tungsten producers in the western world."

"Mactung is NTC's most valuable asset and the Company is eager to bring its resources to market. With the release of the Decision Documents and in co-ordination with the First Nations on whose traditional territory Mactung is located, the Company has a much clearer path towards the day when Mactung will join Cantung as two centers of operations and profit - not only for NTC and its shareholders but also for the people and communities of the North."

"We take seriously the responsibilities which the governments and the Board have placed with us to properly steward the Mactung site," Mr. Heikkila continued, "and we believe that this corporate commitment will become increasingly obvious in the years ahead."

North American Tungsten currently operates the Cantung mine which is located just inside the border of the Northwest Territories ("N.W.T."), 300 kilometers northeast of Watson Lake, Yukon. Two hundred sixty people are currently employed at Cantung. Mactung is located about 160 kilometres up along the border with N.W.T., this time falling on the Yukon side. Mactung is currently anticipated to be about 50% larger than Cantung in size and scope of operations and is anticipated to produce 2,000 tonnes per day from an underground operation.

Details of the National Instrument 43-101 Technical report filed on SEDAR, May 18, 2010, include the following:

  • The underground mine life is estimated at 11.2 years; if production is expanded with an open pit operation, mine life could extend by a further 17 years; and
  • The indicated resource is 33 million tonnes of WO3 at a grade of 0.88%; inferred resource is 11.9 million tonnes at 0.78% WO3.

Mr. Heikkila concluded, "We will start the planning process, involving customers and community, to build the operational plan for opening Mactung. The investments we've made to improve Cantung operations will provide fundamental operational aspects for this process. When developed, Mactung will provide benefits to the people and communities of the North, as well as the shareholders of the Company for many years."

ON BEHALF OF THE BOARD OF DIRECTORS

Kurt E. Heikkila, Chairman & 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.

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

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.

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North American Tungsten Corp.

EN DÉVELOPPEMENT
CODE : NTC.V
ISIN : CA6569141089
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North American Tungsten est une société de production minière de tungsten basée au Canada.

Ses principaux projets en développement sont CANTUNG MINE et MACTUNG au Canada.

North American Tungsten est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,2 millions CA$ (912 238 US$, 818 368 €).

La valeur de son action a atteint son plus haut niveau récent le 17 juin 2005 à 1,87 CA$, et son plus bas niveau récent le 30 mai 2016 à 0,01 CA$.

North American Tungsten possède 238 120 000 actions en circulation.

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Rapports annuels de North American Tungsten Corp.
Annual Report 2007
Financements de North American Tungsten Corp.
27/06/2013Announces Issuance of Bonus Share Purchase Warrants in Conne...
Attributions d'options de North American Tungsten Corp.
20/06/2011Announces Investor Relations Strategy
Projets de North American Tungsten Corp.
16/10/2012(Mactung)Achieves Major Permitting Milestone for Its MacTung Project,...
Communiqués de Presse de North American Tungsten Corp.
29/01/2016Rick Mills: Rising Demand And Falling Supply Equals Higher M...
29/11/2015What Do Hedge Funds Think of North American Energy Partners ...
03/11/2015North American Energy Partners posts 3Q loss
23/10/2015NATC Announces Termination of Sale and Investment Solicitati...
13/10/2015Can The Oil Industry Really Handle This Much Debt?
30/09/2015North American Palladium cuts output forecast, jobs
29/07/2015North American Palladium posts 2Q loss
17/07/2015NATC Announces Approval of Sale and Investor Solicitation Pr...
10/07/2015NATC Announces Approval of Interim Financing in Proceedings ...
12/04/2015Magnetar Increases Its Position in TransCanada
31/03/2015NTC Announces Update on the Cantung Dry Stack Tailings Facil...
19/03/2015Announces Results of the March 18, 2015 Annual General and S...
23/02/2015Reports Q1 Fiscal 2015 Results
23/02/2015North American Tungsten Reports Q1 Fiscal 2015 Results
13/01/2015Reports Fiscal 2014 Results
13/01/2015North American Tungsten Reports Fiscal 2014 Results
31/12/2014North American Tungsten Extends Loan Agreement With Callidus...
03/11/2014North American Tungsten Files Technical Report for Cantung M...
20/09/2014North American Tungsten: Cantung Life of Mine Extended Beyon...
09/09/2014North American Tungsten's Mactung Project Receives Regulator...
22/08/2014North American Tungsten Reports Q3 Fiscal 2014 Results
02/07/2014North American Tungsten Completes Financing With Queenwood C...
23/05/2014North American Tungsten Increases Production and Reports Net...
15/05/2014North American Tungsten Completes Callidus Capital Corporati...
24/03/2014North American Tungsten Obtains Regulatory Approval For Conv...
24/03/2014North American Tungsten Obtains Regulatory Approval for Conv...
17/03/2014Mactung Project Receives Positive Final Screening Report
17/03/2014Mactung Project Receives Positive Final Screening Report
01/11/2013Announces Extension of Debt Payment Due Dates
27/08/2013Comments on Q3 2013 Results
12/06/2013Announces Completion of Shares for Debt Transaction
12/06/2013Announces Completion of Shares for Debt Transaction
12/06/2013Announces Completion of Shares for Debt Transaction
07/06/2013Announces Severance Settlement
24/05/2013Comments on Q2 2013 Results and Completes US$4 Million Finan...
25/04/2013NTC Agrees to Payment Schedule With Former Mine Contractor
26/03/2013Announces Results of the March 22nd, 2013 Annual and Special...
28/01/2013Comments on Fiscal 2012 Results
31/05/2011(Mactung)Establishes Special Committee for Mactung, Releases Second Q...
31/03/2011Closes Public Offering for Gross Proceeds of $11.5 Million I...
02/03/2011Announces $10 Million Bought Deal Offering
22/02/2011Announces That it has Filed on SEDAR, Restated September 30,...
31/10/2007NAMED BUSINESS BC’S FASTEST GROWING COMPANY
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