VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/26/13 -- North American Tungsten Corporation Ltd. (TSX VENTURE: NTC) ("NTC" or "the Company") is pleased to announce the results of the annual and special meeting of the shareholders of the Company held March 22nd, 2013 in Vancouver BC. At the meeting the shareholders of the Company:
-- Elected Ronald Erickson, Kurt Heikkila, Allan Krasnick, Stephen Leahy, Dennis Lindahl, Bryce Porter and Christina Scott to the board of directors until the next annual meeting;-- Appointed PricewaterhouseCoopers, LLP to be auditor of the Company for the financial year ending September 30, 2013, and authorized the board of directors to fix the remuneration of the auditor;-- Approved the Company's stock option plan more fully described in the information circular dated as of February 15, 2013 (available for viewing on SEDAR); and-- Approved the extension of the Company's Shareholder Rights Plan for a further two year period more fully described in the information circular dated as of February 15, 2013 (available for viewing on SEDAR).
Two long-standing directors of the Company, Wayne Lenton and Kenneth Collison, did not run for re-election and the Company wishes to thank both of them for their contributions over the years.
Subsequent to the annual and special meeting, the board of directors appointed Kurt Heikkila as the chairman of the board of the Company. The board of directors has requested that the new Chairman undertake enhanced efforts and strategies to substantially improve the production and efficiency outcomes at the Company's CanTung mine.
Messrs. Porter, Krasnick and Lindahl have been appointed as members of the Audit Committee.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen M. Leahy, President & Chief Executive Officer
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.
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.
Neither 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.
North American Tungsten Corporation Ltd.