North American Gem Inc. Increases Land Holdings at the Louise Lake Project, British Columbia



    VANCOUVER, March 11 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG)
is pleased to announce it has increased its land holdings at the Louise Lake
property to 12,291 hectares. This is a substantial enlargement of the original
land position of 3,319 hectares following acquisition from Firestone Ventures
Inc. (TSX-V symbol: FV). The Louise Lake Project is a road-accessible 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 Company chose to make this increase following completion of the 2008
diamond drilling program. The property was expanded primarily to the north and
northwest, as gold values and copper:gold ratios increase in that direction.
North American Gem's Louise Lake project is now contiguous with a property to
the northwest held by Teck Cominco Limited, a world leader in the production
of zinc and metallurgical coal and a significant producer of copper, gold and
specialty metals.

    Louise Lake Property Overview

    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, focusing on
two main target settings. The first consists of higher grade gold values, as
well as higher gold: copper ratios, identified in northeastern portions of the
Main Zone, particularly from Hole LL-07-18B. Here, a value of 0.769 gpt gold
with 0.48% copper was returned from a 26.1-metre intercept from 288.8 to
314.9 meters of depth, part of a 40.0-metre interval grading 0.625 g/t gold
with 0.41% copper (News Release, May 9, 2007). Five holes targeting the
potential strike extension of this were completed; four returned typical Main
Zone-style mineralization with visually determined intercepts ranging from
67.8 to 241.5  meters.
    The other main setting consisted of mineralization beneath the flat-lying
"Terminator" fault. Year-2007 results from Hole LL-07-15, collared northwest
of the Main Zone, revealed "low-grade sub-Terminator" mineralization having a
similar fabric and geochemical signature to the Main Zone. This was the first
intercept of sub-Terminator mineralization, suggesting the underlying "fixed"
portion of the Main Zone deposit occurs further northwest.
    Five holes, collared progressively northwestward from this intercept,
tested the underlying "fixed" portion. As of February 7th, three of four holes
completed successfully intersected sub-Terminator mineralization, with
intercepts from 50 to 65 meters in length of "Main Zone"-style alteration and
quartz veining. Since then, Hole LL-08-33, collared a further 180 meters
northwest of the previous westernmost hole (LL-08-29) returned a 27-metre
intercept of more pronounced "Main Zone"-style mineralization with strong
alteration. The base of this is another "Terminator"-style fault; minor
mineralization and moderate alteration extends beneath this also.
    Detailed core logging of Hole LL-08-26, the "fourth" hole previously
believed to be barren, also revealed minor sub-Terminator copper
mineralization across about 15 meters with minor molybdenite extending a
further 20 meters. These results indicate the 2008 program successfully
identified the direction of movement of the rafted block hosting the Main
Zone, and that additional sub-Terminator mineralization likely occurs west of
the western limit of 2008 drilling. Analytical results of all holes are
pending.
    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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