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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (30062)	12/8/2008 9:32:56 PM
From: LoneClone	Read Replies (1) \| Respond to of 192929

North American Gem Inc. receives additional Coal Prospecting Permits north of Hudson Bay, Saskatchewan Monday December 8, 4:16 pm ET biz.yahoo.com The Company has received an additional 137 Coal Prospecting Permits TSX-Venture: NAG VANCOUVER, Dec. 8 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG - News; The Company) is pleased to announce that the Company has received an additional 137 Coal Prospecting Permits from Saskatchewan Energy and Resources, near the most recent coal discovery by Goldsource Mines Inc. (TSX-V symbol: GXS - News). This now brings the total to 757 Coal Prospecting Permits covering an area of 1,436,500 acres (581,376 hectares) that have been approved by Saskatchewan Energy and Resources. All of the ground that has been applied for has been done so in accordance will all the rules and regulations set forth by the government of Saskatchewan's permitting office. As with all other companies applying for coal dispositions in Saskatchewan, North American Gem Inc., has its applications and coal prospecting permits subject to the Saskatchewan government's approval process. Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release. North American Gem Inc. (TSX-V symbol: NAG - News) 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 Saskatchewan and West Virginia. In addition to Coal exploration, the Company also has interest in Uranium, Copper, Gold, Molybdenum and other base metals in Canada. The Company has advanced the Louise Lake copper-gold-molybdenum-silver project, located in British Columbia, and has produced a NI 43-101 compliant Resource estimate. In Alberta, the Whiskey Gap, Western Basin, Bonny Fault, Charles Lake projects are being explored for Uranium potential. In addition, the Company is also pursuing its Mosquito Gulch uranium property located in the North West Territories and the Ranger Lake Uranium property located in Ontario. On Behalf of the Board of Directors NORTH AMERICAN GEM INC. "Charles Desjardins" Charles Desjardins President and Director THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures, and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 resource estimate on the Louise Lake property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. 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. For further information 430-609 Granville Street, Vancouver, BC, Canada, V7Y 1G5, Phone (604) 683-5445, Facsimile (604) 687-9631, info@northamericangem.com, www.northamericangem.com Source: North American Gem Inc.