North American Gem Inc. Amends Terms of the Private Placement

North American Gem Inc. (NAG) (TSX VENTURE:NAG) has amended the terms of the
non-brokered private placement originally announced on August 4th, 2010. The
Company, subject to the approval of the TSX Venture Exchange, intends to issue
up to 12,500,000 units at a price of $0.08 per unit for total proceeds of up to
$1,000,000.


Each unit will consist of one common share and one full warrant. One warrant
will entitle the holder to purchase one additional common share of the company
at a price of 10 cents per share for the first year, 12 cents per share on the
second year and 15 cents per shares until expiration on the third year.


The proceeds of the private placement will be used for general working capital
and exploration. A finder's fee may be payable according to the policies of the
TSX Venture Exchange.


North American Gem Inc. (TSX VENTURE: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, copper, 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.

North American Gem Inc. (TSXV:NAG)
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