Mr. Dwayne Yaretz reports

NORTH ATLANTIC TITANIUM COMPLETES PAYMENT UNDER OPTION AGREEMENT FOR THE EVERETT TITANIUM PROJECT IN QUEBEC, AND ANNOUNCES GRANT OF INCENTIVE STOCK OPTIONS

North Atlantic Titanium Corp. has made the first option agreement payment of $200,000 in cash and is issuing one million shares of the company to Romaine River Titanium Inc., the Everett titanium property optionor. The company has an option to earn, subject to the satisfaction of certain conditions, an undivided interest of up to 75 per cent in the Everett titanium property, located 40 kilometres from the port city of Havre-Saint-Pierre, Que., and three kilometres from Rio Tinto's producing Lac Tio titanium mine.

Dwayne Yaretz, chief executive officer, commented as follows: "With the first option payment completed, we are now positioned to commence our planned exploration activities at the Everett project. The company will proceed with the completion of exploration and metallurgical testing in preparation for diamond drilling and verification of historical data."

Grant of incentive stock options

The company also announces that it has granted, effective today, an aggregate of two million stock options to directors, consultants and employees of the company in accordance with the company's stock option plan. Each option is exercisable into one common share in the capital of the company at a price of 15 cents per share for a period of three years from the date of grant.

About North Atlantic Titanium Corp.

North Atlantic Titanium is a Canadian publicly traded exploration company focused on advancing the Everett titanium deposit in Quebec. The company also holds a 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que. As well, the company is currently assessing two option agreements to acquire up to 80 per cent of the silver, zinc, lead XWG and LMM properties, and an exploration agreement at the WLG mine, all located in Henan province, China.