North American Gem Inc. - Higher Grade Copper/Gold Zone Confirmed by early results from the 2008 Louise Lake Diamond Drilling Program



    VANCOUVER, March 13 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG)
is pleased to announce the first results from the Company's 2008 program on
the Louise Lake Project, which include an intercept of higher-grade gold
mineralization with grades comparable to those from 2007 intercepts. The
road-accessible Louise Lake property is located 35 kilometers west of
Smithers, British Columbia, Canada, a full-service community with excellent
access to highway, rail and electrical infrastructure.
    The Louise Lake property hosts the "Main Zone" deposit, consisting of an
unusual mineral assemblage, with copper occurring as an equal mixture of
enargite and chalcopyrite. The 2004 through 2007 programs extended the known
dimensions of the east-west striking, moderately north-dipping tabular Main
Zone to a length of 970 meters, with widths to 170 meters. The zone extends to
a depth of about 270 meters, where it is abruptly truncated by the flat-lying
"Terminator" fault.
    A total of 5,042.8 meters in 16 holes was completed in 2008 (results
currently being released), with the first results obtained from DDH LL-08-25,
collared close to DDH LL-07-18B, where a value of 0.769 gpt gold with 0.48%
copper was returned from a 26.1-metre intercept directly overlying the
"Terminator" (News Release, May 9, 2007). DDH LL-08-25, collared roughly 40
meters southwest of Hole LL-07-18B, returned a 36.2-metre intercept grading
0.417% copper with 0.692 gpt gold, also directly overlying the "Terminator"
fault. These similar gold grades and gold: copper ratios indicate an extension
of the higher grade gold zone at depth.

    
    Table 1 summarized results to date.
    Table 1: Significant Intercepts as of Mar 12, 2008
    -------------------------------------------------------------------------
    Hole      Interval(m)  Length  Copper   Moly     Gold    Silver   Copper
                             (m)     (%)   (ppm)  (g/t)(*)  (g/t)(*)    Eq(%)
    -------------------------------------------------------------------------
    LL-08-20  135.7-141.8    6.1    0.168     2     0.059     10.9     0.295
    -------------------------------------------------------------------------
              289.4-363.9   74.9    0.183    69      0.25      0.5     0.370
    -------------------------------------------------------------------------
    includes  358.4-363.9    5.5    0.350   143      0.85      1.8     0.926
    -------------------------------------------------------------------------
    LL-08-25   66.0-310.0  226.0    0.161    40     0.210      0.5     0.307
    -------------------------------------------------------------------------
    includes  209.0-310.0  101.0    0.248    54     0.332      0.6     0.471
    -------------------------------------------------------------------------
    includes  270.4-306.6   36.2    0.417    39     0.692      1.2     0.832
    -------------------------------------------------------------------------
     Cu equivalent calculated using the following metal prices:
     Cu: US$1.20/lb, Mo: US$8/lb, Au: US$450/oz; Ag: $US 7/oz
     1 gpt = 1 ppm
    

    Hole LL-08-20, collared about 220 meters north-northwest of DDH LL-08-25,
targeted the down-dip extension of the Main Zone west of the gold enrichment
area. It intersected a 74.9-metre intercept of Main Zone-style mineralization,
including a 5.5-metre intercept grading 0.350% copper with 0.85 gpt gold
directly overlying the Terminator. Again, the gold-copper ratio is higher than
the overall average of the Main Zone, suggesting a potentially sizable area of
gold enrichment.
    Hole LL-08-25 intersected a similar mineralized sequence to that of DDH
LL-07-18B, with low-grade copper-molybdenum-gold mineralization overlying
higher-grade mineralization directly above the Terminator. As mentioned
previously, the high grade intercept contained similar gold: copper ratios to
a corresponding interval from DDH LL-07-18B, indicating continuity of the area
of gold enrichment along the northern margin of the Main Zone deposit.
    Analytical results of all remaining holes are pending. Several of these
holes also targeted the vicinity of the higher grade gold zone; the balance
targeted potential sub-Terminator mineralization northwest of the Main Zone.
All holes successfully intersected a second rafted block of Main Zone-style
alteration and mineralization ranging from 15 to 65 meters in thickness,
suggesting the underlying portion occurs further to the west-northwest.
    This news release was reviewed and approved by Carl Schulze, BSc, PGeo,
Qualified Person for the project, in accordance with regulations under
National Instrument 43-101. All sample analysis will be completed by ALS
Chemex of North Vancouver, British Columbia, Canada. The diamond drilling
program was conducted by Britton Brothers Diamond Drilling of Smithers,
British Columbia.

    About North American Gem Inc. North American Gem Inc. (TSX-V symbol: NAG)
is a junior exploration Company based in Western Canada. The Company's primary
goal is to explore for Uranium, Molybdenum, Gold, Copper and other base metals
in Canada. The Company is actively pursuing several opportunities, including
the Louise Lake copper-gold-molybdenum-silver project located in British
Columbia. The Company is also pursuing its uranium projects, consisting of the
Whiskey Gap, Del Bonita, Western Basin, and Bonny Fault projects, all located
in Alberta. 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 HAS NOT YET REVIEWED AND 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:

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

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NORTH AMERICAN GEM INC.

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