North American Gem Inc. Partners With M3 Energy Resources, LLC
VANCOUVER, BRITISH COLUMBIA, Dec 21, 2010 (MARKETWIRE via COMTEX News Network) --
North American Gem Inc. (NAG) (TSX VENTURE: NAG) has entered into a new partnership with M3 Energy Resources, LLC (M3) who will become the operators on North American Gem #2 Mine and the fully permitted North American Gem #3 Mine. The process to register M3 as operator with the Kentucky Department of Natural Resources, as well as paperwork with MSHA and mine license with Kentucky Department of Mines and Minerals has commenced. Once completed M3 will start mining on North American Gem #2 Mine and prepare North American Gem #3 Mine for Highwall mining which is expected to begin in January 2011.
M3 Energy Resources, LLC has a management team with a proven track record in coal mining, engineering, finance and business management. M3's current operations are in Central Appalachia where they control vast low sulfur, high BTU coal reserves with decades of mining life remaining. M3 is a large operation capable of managing several projects simultaneously; currently M3 is operating Highwall Miners, Surface Mines, Underground Mines, and a Prep. Plant with fine coal circuit and loadout facilities. Utilizing state-of-the-art equipment and advanced mining techniques maximizes the efficiency of their mining operations at the same time that it helps increase the level of safety.
For additional information on M3 Energy Resources, LLC please visit their website at: http://www.3mcoal.com/
Mr. Dean Schafer is acting as operations manager for NAG on all of NAG's Kentucky coal leases and is currently implementing an overall mine plan.
Ms. Deborah Moses, P.Eng., PLS, REM, of Engineering Consulting Services Inc. (ECSI), has approved the technical content of this release. Ms. Deborah Moses is the qualified person for NAG's coal operations 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
SOURCE: North American Gem Inc.
mailto:info@northamericangem.com http://www.northamericangem.com
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