Welcome To The North American Gem HUB On AGORACOM

The Company's primary goal is to explore for Coal in North America, currently the focus is in Kentucky, Saskatchewan and West Virginia.

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Message: the final "comfort" letters

the final "comfort" letters

posted on Jul 14, 2008 06:09PM
VANCOUVER, July 14, 2008 /PRNewswire-FirstCall via COMTEX/ -- North American Gem and its Advisory Board meets with Saskatchewan's
Energy and Resources Minister
TSX-Venture: NAG
North American Gem Inc. (TSX-V symbol: NAG) has now received First Priority "Comfort letters" for 1,387,863 acres (71 Townships) from Saskatchewan Energy and Resources. The Company is waiting on the status for another 8 Townships of Coal Prospecting Permit to be approved.
On July 9th Charles Desjardins, President of North American Gem Inc. and two of his advisors; Mr. Alan Johnson and Mr. Harvey Dickson met with Saskatchewan's Energy and Resources Minister, Bill Boyd and a number of senior officials in his ministry. These meetings were constructive and Mr. Desjardins was very encouraged by Minister Boyd's interest and support for the potential contribution that new coal developments may have on the economy in central Saskatchewan. The Ministry is aware of the need to develop policy change which will adapt to this new type of coal system recently discovered in Saskatchewan.
The Company is currently awaiting its Coal Prospecting Permit approval for the Adamas Property which would allow exploration to commence. North American Gem Inc. has First Priority status on the township that holds the Adamas Discovery. Despite the likelihood of some grade loss, the samples graded Sub-bituminous A (43-101 compliant) quality over 5 meters. This is highly encouraging as the coal would have likely deteriorated to some degree and suggests that the sample may be of better quality in an unoxidized state.
The Company has filed and fully paid for 786 Coal Disposition applications to date. 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 Ltd., has its applications and Coal Prospecting Permits subject to the Saskatchewan government's approval process. The standard issue Comfort letter states "the extent to which the land described in these applications can be issued has not been investigated, and therefore this letter should not be construed as an indication that any land will be issued, as a full review is still to be completed."
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