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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: onepath	6/12/2007 3:45:57 AM
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True North gets global ruby market survey from MVI 2007-06-12 03:21 ET - News Release Mr. Nick Houghton reports TRUE NORTH GEMS RECEIVES GLOBAL RUBY MARKET SURVEY FROM MVI MARKETING True North Gems Inc. is in receipt of a report titled, "World ruby and pink sapphire market size report," from MVI Marketing Ltd. The company commissioned the report as part of the continuing effort to establish an economic context to assist with the evaluation of the potential of the Fiskenaesset ruby property located on the southwest coast of Greenland. Highlights of the report include: The global ruby market size is approximately $2.1-billion (U.S.) at wholesale. Ruby production is at best stable and more likely on a slight decline. Ruby demand is expansive as rapid industrialization nurtures markets for traditional precious stones and fine jewelry in Eastern Europe as well as Central and South Asia. The market for pink sapphire has recently experienced a growth spurt and strong tailwinds from the ruby market will help build tagalong demand for pink sapphire. "The nature of the global ruby market as one of the last unregulated global markets presents obvious challenges to the development of an accurate assessment of market size; however, market trends are quantifiable," said Nicholas Houghton, AG (CIG), director of True North Gems. "The methodology employed by MVI in developing this report has provided a conservative estimate of the current ruby market and a valuable reference in the evaluation of the economic potential of the Aappaluttoq ruby project." The content and methodology of the global ruby survey have been reviewed and approved by Andrew Lee Smith, PGeo. Mr. Smith is a qualified person as defined by National Instrument 43-101. MVI Marketing is recognized as the industry leader in its field, responsible for the successful marketing and branding of diamonds from the Argyle mine in Australia, conceiving and launching its world-renowned Champagne diamonds campaign. Additional information on Greenland rubies, technical reports and other public documents are available at SEDAR or at the company's website. We seek Safe Harbor.

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