North American Tungsten Achieves Major Permitting Milestone for Its MacTung Project, Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/16/12 -- North American Tungsten Corporation Ltd. (TSX VENTURE: NTC) ("NTC" or "the Company") is pleased to announce the completion of the Draft Screening Report for its MacTung Project, by the Executive Committee of the Yukon Environmental and Socio-Economic Assessment Board ("YESAB").
YESAB's delivery of the Draft Screening Report ("report") is a significant milestone for the MacTung Project, moving it closer to the finalization of the environmental assessment as required under the Yukon Environmental and Socio-Economic Assessment Act ("YESAA"). The report concludes, "As a result of this assessment, the Executive Committee recommends to the Decision Bodies that the MacTung Project be allowed to proceed without a review, subject to the terms and conditions specified in this report."
Stephen Leahy, Chairman & CEO stated, "With the Draft Screening Report complete, NTC will now focus on its next objectives, of obtaining quartz mining and water licences. We would like to thank all of those that have contributed to the assessment process including the Kaska First Nation, the Yukon Government, Environment Canada, Natural Resources Canada, Fisheries and Oceans Canada, Yukon Conservation Society and other stakeholders. Participation by all parties has unquestionably benefitted and improved the Project as a whole. We believe the MacTung Project will provide significant benefits to all Yukoners for years to come."
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen M. Leahy, Chairman & CEO
Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
North American Tungsten Corporation Ltd.
Investor Contact
+1.604.684.5300
+1.604.684.2992 (FAX)
info@natungsten.com
www.natungsten.com