NAG North American Gem Inc.

North American Gem Inc. (NAG) (TSX VENTURE:NAG) has arranged a non-brokered
private placement of up to 14,000,000 units at a price of $0.075 per unit for
total proceeds of up to $1,050,000 subject to the approval of the TSX Venture
Exchange. 


Up to 4,000,000 units will be issued as non flow-through units consisting of one
common share and one full warrant. One full warrant will entitle the holder to
purchase one additional common share of the Company at a price of $0.10 per
share in the first year, $0.12 per share in the second year, and $0.15 per share
in the third year.


Up to 10,000,000 units will be issued as flow-through units consisting of one
common share and one half (1/2) share purchase warrant, one full warrant will
entitle the holder to purchase one additional common share of the Company at a
price of $0.10 per share in the first year, $0.12 per share in the second year,
and $0.15 per share in the third year. 


The proceeds of the private placement will be used for exploration work on the
Company's mineral properties and general working capital. Finder's fees, as
allowed pursuant to the policies of the TSX Venture Exchange, may be payable in
connection with the offering.


North American Gem Inc. (TSX VENTURE:NAG) is a Junior Exploration Company based
in Western Canada. The Company's primary goal is to explore for Coal in North
America, currently the focus is in Kentucky, Saskatchewan, and West Virginia. In
addition to Coal exploration, the Company also has interests in Uranium, Copper,
Gold, Molybdenum and other base metals in Canada. 


On Behalf of the Board of Directors 

NORTH AMERICAN GEM INC.

Charles Desjardins, President and Director

Cautionary note:

This report contains forward looking statements. Resource estimates, unless
specifically noted, are considered speculative. Any and all other resource or
reserve estimates are historical in nature, and should not be relied upon. The
production rate and mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations will be
economically viable. By their nature, forward looking statements involve risk
and uncertainties because they relate to events and depend on factors that will
or may occur in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. Cautionary Note to US
investors: The U.S. Securities and Exchange Commission specifically prohibits
the use of certain terms, such as "reserves" unless such figures are based upon
actual production or formation tests and can be shown to be economically and
legally producible under existing economic and operating conditions.

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