The aim of this study was to investigate how two nearby areas, both located close to the village Tärnaby, Västerbottens län, differ in terms of natural values and occurance of wood-inhabiting fungi. The two areas have similar geology, hydrology and vegetation, but one area, area A, is affected by modern forestry and the other, area B, is not affected. The degree of human impact has so far been small in the coniferous forest compared to areas further south in Sweden, which has resulted in old growth forests with high biodiversity still remaining. It is important to locate and protect these remaining forests. A template for natural value assessment in combination with species indicators can be used as a tool for assessing natural values. This study was based on a thorough inventory of five replicates in each area. An assessment of natural values was made on site and the occurrence of both total amount of wood-inhabiting fungi as well as the occurrence of red listed wood-inhabiting fungi was inventoried in both areas. The results show that there is a significant difference between area A and B, where area B has higher natural values and a greater amount of wood-inhabiting fungi aswell as a greater amount of red listed fungi than area A. Many of the discovered wood-inhabiting fungi in area B is placed in the upper part of the value pyramid for wood-inhabiting fungi in natural spruce forests, which confirms the presumed high natural values based on the natural value assessment.