April 21, 2010: North American Gem Inc. (NAG) (TSX-V symbol: NAG) reports that it has currently raised $929,120 through the exercising of warrants. In combination with the revenue being produced from mining operations at the North American Gem #1 Mine, the money raised through the exercising of warrants will be used to fund several of NAG's upcoming projects. In particular, the money raised will fund the bonding for the North American Gem #2 Mine, the bonding for the pending Swan Pond lease (North American Gem #3 Mine) and provide the capital necessary for the building of additional hauling roads and sediment ponds.
"As a result of the recent infusion of capital, the Company will not have to go to the to the public market to raise additional funds to satisfy our near term needs." stated Charles Desjardins, President of North American Gem Inc. "This capital will ensure full funding for all of North American Gem's current projects and will also allow the Company to acquire additional coal leases and permit multiple land tracts."
Mr. Dean Schafer is acting as operations manager of all the Company's Kentucky coal leases and is currently implementing an overall mine plan.
Ms. Deborah Moses, PEng, PLS, REM, of Engineering Consulting Services Inc. (ECSI) is the qualified person for the Company's coal operations in Kentucky and West Virginia.
North American Gem Inc. (TSX-V symbol: NAG) is a junior resource company in Western Canada. The company's major focus is expanding its coal mining operations at its flagship properties in Kentucky. In addition, the company has interests in coal, gold, copper, molybdenum, and other base metals in Canada.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"
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