TGX TGX Energy and Resources Inc

True North Gems Inc. (TSX VENTURE:TGX) ("True North" or the "Company") announces
today that the Municipality of Sermersooq and City Council has completed the
required formalities and officially approved the Company's Impact Benefit
Agreement ("IBA"). 


As previously announced (see press release dated May 30, 2014) the Government of
Greenland has approved the formal Exploitation and Closure Plan, and IBA. This
final approval by the Municipality signals the go-ahead for the mine.


"This endorsement from the Municipality and City Council speaks volumes of the
time and effort contributed by all. The commitment shown by True North Gems to
engage local enterprises and employ local workers will lead to secondary
industry growth and other positive benefits for the wider Greenlandic society,"
said Nicholas Houghton, President and CEO.


"I am pleased that the IBA manages to ensure jobs go to our own citizens. This
will be important not only for those who are employed, but for the entire
community," stated Asii Chemnitz Narup, Mayor of Sermersooq. "The Ruby Mine near
Qeqertarsuatsiaat will be the first of its kind in the Country. It is important
that we take the opportunity to show that Greenland can provide manpower at all
levels to such a mine."


The IBA will promote the cooperation between True North and the Greenland
Authorities, and guarantees the project is developed in a sustainable and viable
manner. It also establishes methods and procedures to safeguard transparency,
build competencies in the Greenlandic workforce, and ensure cooperation to
maximize the opportunities for the Greenlandic population and the Company. 


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. 


This document contains "forward-looking information" and "forward-looking
statements" (together, "forward-looking statements") within the meaning of
applicable securities legislation, which are made as of the date of this
document or the document(s) referred to herein. Statements that express
predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words or phrases
such as "expects", "anticipates", "plans", "projects", "estimates", "intends",
"strategy", "goals", "objectives" or variations thereof or stating that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be forward-looking
statements. Forward-looking statements include, without limitation, statements
with respect to: the amount of mineral reserves and mineral resources; the
amount of future production over any period; net present value and internal
rates of return of the proposed mining operation; capital costs; operating
costs; strip ratios and mining rates; and mine life. The forward-looking
statements are made based upon certain assumptions which, if untrue, could cause
the actual results, performances or achievements of the Company to be materially
different from future results, performances or achievements expressed or implied
by the forward-looking statements. These assumptions include, without
limitation: the price of gemstone products produced; anticipated costs; the
presence of and continuity of gemstones at modeled grades and values; the
capacities of various machinery and equipment; the availability of personnel,
machinery and equipment at estimated prices; exchange rates; appropriate
discount rates; tax rates applicable to the proposed mining operation; financing
structure and costs; anticipated mining losses and dilution; gemstone recovery
rates; reasonable contingency requirements; and receipt of regulatory approvals
on acceptable terms. 


By their very nature, forward-looking statements involve inherent risks and
uncertainties that could cause actual results, performances or achievements to
differ materially from those in the forward-looking statements. These include,
without limitation: price volatility, discrepancies between actual and estimated
production, mineral reserves and resources and metallurgical recoveries, mining
operational and development risks, regulatory restrictions (including
environmental regulatory restrictions and liability), activities by governmental
authorities (including changes in taxation), currency fluctuations, the
speculative nature of gemstone exploration, the global economic climate,
dilution, share price volatility, competition, loss of key employees; additional
funding requirements and defective title to mineral claims or property. This
list is not exhaustive. See also, for example, the risks disclosed in the
Company's other disclosure documents filed at www.sedar.com, including, without
limitation, those disclosed in the Company's management's discussion & analysis.
The Company expressly disclaims any intention or obligation to update or revise
any forward-looking statements, except as otherwise required by applicable
securities legislation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nicholas Houghton
President and CEO
Telephone: 604-687-8055


Joanna Hall
Corporate Coordinator
Telephone: 604-687-8055


True North Gems Inc.
Email: info@truenorthgems.com
Website: www.truenorthgems.com

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