North American Gem Inc. Resumes Mining Operations at North American Gem #2 Mine
September 28 2011 - 12:47PM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) reports that it
has resumed mining operations at the North American Gem #2 Mine.
Reclamation and production equipment is currently being mobilized
to the mine site.
Under an Agreed Order with the United States Bankruptcy Court,
NAG has recently been granted relief to replace M3 Energy
Resources, LLC, who were listed as operators at the North American
Gem #2 Mine in December 2010.
"We are pleased to finally be able to move past the operating
complications that were inhibiting production at the North American
Gem #2 Mine," stated Charles Desjardins, President of North
American Gem Inc. "We are looking forward to concentrating on
maximizing the Company's assets in Kentucky."
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.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: North American Gem Inc. Charles Desjardins President
and Director 604-683-5445 604-687-9631 (FAX)
info@northamericangem.com www.northamericangem.com
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