North American Gem Inc. Provides Bonny Fault and Western Basin Update, Northern Alberta



    VANCOUVER, Nov. 13 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG) is
pleased to announce additional molybdenum results from the summer exploration
program at its Bonny Fault Uranium property. The Property encompasses
approximately 64,128 hectares (158,464 acres) of mineral tenures located in
Northeastern Alberta, just north of the Athabasca Basin. Exploration consisted
of reconnaissance prospecting and sampling to confirm historic showings of
high grade, surface uranium and molybdenum mineralization and also to ground
check targets identified from a 2006 airborne radiometric survey flown over
the property.
    Analysis of the 2006 airborne geophysical program had identified 276
linear and point-source uranium anomalies, and several major structures of
interest. Forty-one of these are considered higher priority targets as
selected by Mr. Jeremy S. Brett, M.Sc. P.Geo., Senior Geophysical Consultant
for MPH Consulting Limited of Toronto. Many of these uranium anomalies are
coincident with either foliation-parallel or major cross-cutting
structures/faults. In addition, several are located on or near the Bonny Fault
or sub-parallel faults, which are major NW trending faults that cross-cut the
local foliated rocks and may have been conduits for uranium-bearing fluids
from the now eroded Athabasca sandstones which once overlaid the area. The
absence of sandstone over the property is amenable to shallow drilling to test
anomalies allowing for more cost-efficiency.
    During the 2007 ground reconnaissance follow-up and prospecting, a total
of 130 rock samples were taken, 12 of which assayed 0.1% U(3)O8 or greater to
a high 2.28% U(3)O8 (refer to October 29/07 release at
www.northamericangem.com) and 15 of which assayed 0.007% Mo or greater to a
high 0.19% Mo. These newly released Molybdenum samples are presented in
Table 1. All samples were assayed at the SRC Geoanalytical Laboratory in
Saskatoon, Saskatchewan.

    
    Table 1. Highest Molybdenum Values Sampled from the Bonny Fault

    -------------------------------------------------------------------------
    Sample ID   General Area    Mo ppm      Mo %          U ppm      U(3)O8 %
    -------------------------------------------------------------------------
    37859       Cherry Lake       1900     0.190           1290        0.152
    -------------------------------------------------------------------------
    37795       Holmes Lake        353     0.035           2600        0.307
    -------------------------------------------------------------------------
    37794       Holmes Lake        330     0.033            950        0.112
    -------------------------------------------------------------------------
    37792       Holmes Lake        280     0.028            280        0.033
    -------------------------------------------------------------------------
    37791       Holmes Lake        150     0.015              2        0.000
    -------------------------------------------------------------------------
    37717       Spider Lake        150     0.015            937        0.110
    -------------------------------------------------------------------------
    37845       Swinnerton Lake    115     0.012    less than 2        0.000
    -------------------------------------------------------------------------
    37855       Spider Lake        105     0.011            338        0.040
    -------------------------------------------------------------------------
    37742       Hutton Lake        101     0.010            510        0.060
    -------------------------------------------------------------------------
    37793       Holmes Lake        101     0.010            102        0.012
    -------------------------------------------------------------------------
    37719       Spider Lake         92     0.009            800        0.094
    -------------------------------------------------------------------------
    37790       Holmes Lake         90     0.009             33        0.004
    -------------------------------------------------------------------------
    37718       Spider Lake         87     0.009            923        0.109
    -------------------------------------------------------------------------
    37724       Holmes Lake         86     0.009            117        0.014
    -------------------------------------------------------------------------
    37854       Spider Lake         71     0.007            920        0.108
    -------------------------------------------------------------------------
    (*) Figures in this chart were produced in accordance to NI 43-101.

    There are significant historical Molybdenum assays from the Bonny Fault
property collected from the Big Bend Uranium Showing, which is located about
400-m west of Andrew Lake.

    Godfrey (1958) collected three samples during the mid-1950's, which are
presented in Table 2:

    Table 2. Historical Uranium and Molybdenum Samples from the Bonny Fault

    -------------------------------------------------------------------------
    Sample ID                      U(3)O8 %                       Mo %
    -------------------------------------------------------------------------
    JG-58-44-1A                      1.03                         0.69
    -------------------------------------------------------------------------
    JG-58-44-1B                      3.93                         1.03
    -------------------------------------------------------------------------
    JG-58-44-1C                      3.29                         1.40
    -------------------------------------------------------------------------
    (*)Figures in this chart were produced prior to NI 43-101.
    

    Several historic anomalies remain to be ground checked. Preliminary
results of the 2007 field exploration program are encouraging. Further
prospecting over many more priority targets is expected in early 2008. A
helicopter will be utilized to access showings that were unattainable via
fixed wing aircraft. The 2008 prospecting will also accompany detailed mapping
of the higher priority areas in preparation of an impending drill program.
    "As a shareholder of this Company, it is important to understand that the
Bonny Fault property has much more to offer than its significant potential for
Uranium," said Charles Desjardins, President of North American Gem Inc. "As we
continue to confirm notable Molybdenum numbers, often in association with
economical Uranium numbers, the likelihood of North American Gem Inc. being
successful in Northern Alberta increases."
    The Bonny Fault Property is located within the Precambrian Shield of
northeastern Alberta within the Churchill structural province. It is situated
in the Taltson magmatic zone, which to the south, constitutes the basement of
the western Athabasca Basin. Local geology within the property consists of a
wide range of massive to foliated granitoids, meta-sedimentarys and
metavolcanic rocks. Several major faults affect most of the rock units; these
faults include the northwesterly-trending Bonny Fault, and several subsidiary
faults that complicate the structural setting. Faults in this region are
expressed as early shear zones that are characterized by mylonites and by
later more shallowly seated ductile-brittle and brittle fault zones.
Retrograde greenschist facies minerals indicate a Palo-Proterozoic to possibly
Meso-Proterozoic age for this large scale faulting, which has been favourable
for other economic uranium deposits within the Precambrian Shield in the
Uranium City area of north-central Saskatchewan.

    Western Basin Update

    During the recent exploration of North American Gem's Bonny Fault
Property, a few days were spent prospecting the Western Basin Property. The
Property encompasses approximately 27,923 hectares (69,000 acres) of mineral
tenures located in Northeastern Alberta, just west of the Athabasca Basin and
south of the Bonny Fault.
    Thirteen rock samples were taken over a small area of the property.
Samples returned anomalous concentrations of uranium with an assay high of
118 ppm U. Due to the constraints of float plane access, mainly determined by
Lake Size., only a small portion of the property was prospected. Several
historic showings remain to be collected and sampled. Further prospecting is
planned for the spring of 2008 with the aid of a helicopter in order to access
areas unattainable by a float plane.
    Historically, uranium exploration programs in the Athabasca Basin have
been hampered by the high costs associated with deep (+300m) drilling programs
needed to reach and test the targeted Athabasca unconformity. Alberta
Geological Survey Bulletin No. 55 documents several historic drill holes,
which map the Athabasca Unconformity on North American Gem Inc.'s Western
Basin Property, between 10 m and 95 m from surface.
    The eastern edge of the property is the Alberta/Saskatchewan border,
5 kms from Cameco Corporation's Maurice Bay project. The Maurice Bay uranium
deposit is located within the northwest margin of the Athabasca Basin. It has
600 tonnes contained uranium at a grade of 0.5% U. The Maurice Bay deposit
includes structurally controlled mineralization within altered basement rocks
and an Athabasca unconformity-style of uranium mineralization. Due to this
deposits close proximity to, and shared fault structure and geology with North
American Gem Inc.'s Western Basin Property; the Maurice Bay Deposit Model has
become North American Gem Inc.'s geological exploration model for its Western
Basin Property. A new Alberta Geological Survey compilation map and
publication covering this area is due for release this summer. Information
from this new publication compiled with property data already researched and
will aid in focusing future exploration programs.
    The field work was carried out under the supervision of Jody Dahrouge,
P.Geo., a qualified person under National Instrument 43-101, of Dahrouge
Geological Consulting Ltd. of Edmonton, Alberta.

    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 does not accept responsibility for the adequacy
or accuracy of this release. Statements in this press release other than
purely historical information, historical estimates should not be relied upon,
including statements relating to the Company's future plans and objectives or
expected results, are forward-looking statements. News release contains
certain "Forward-Looking Statements" within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended. Forward-looking
statements are based on numerous assumptions and are subject to all of the
risks and uncertainties inherent in the Company's business, including risks
inherent in resource exploration and development. As a result, actual results
may vary materially from those described in the forward-looking statements.





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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