North American Gem Inc. Submits the Permit Application for the 2008 Diamond Drilling Program on the Louise Lake Project



    VANCOUVER, Nov. 14 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG) is
pleased to announce that the permit application for the proposed 2008 diamond
drilling program on North American Gem's Louise Lake Project has been
submitted. 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 power infrastructure.
    The proposed 2008 program will consist of two phases of diamond drilling.
The first phase, to commence in approximately mid-January, will target
potential northward down-dip extension of the Main Zone, as well as the
interpreted portion of the deposit underlying the flat-lying "Terminator"
fault. Results from Hole LL-07-15, collared northwest of the Main Zone in 2007
revealed low-grade mineralization beneath the "Terminator" having a similar
fabric to the Main Zone. This represents the first intercept of sub-Terminator
mineralization to date, suggesting the underlying "fixed" portion of the
deposit may occur northwest of the Main Zone.
    The second phase, to commence by approximately mid-February, will consist
of infill drilling towards further upgrading of the resource base to the
Indicated category. It will also target the north-eastern portion of the Main
Zone near areas of higher grade gold intercepts returned in 2007, including a
26.1-metre intercept grading 0.769 g/t gold and 0.477% copper (see NAG news
release dated May 9, 2007). Phase 1 will consist of roughly 2,500 meters of
drilling in 7 holes; Phase 2 will consist of about 6,100 meters of drilling in
20 holes. Both phases are to be completed by April, 2008.
    In other news, North American Gem is expecting results from a separate
metallurgical study, to determine other environmentally sound treatment
methods of Main Zone mineralization. Previously, independently retained
consultants and related experts in the field of base metal refining had
identified numerous extraction techniques potentially employable as
alternatives to standard smelting techniques for concentrate from North
American Gem's Louise Lake deposit (Please refer to December 5, 2006 release
at www.northamericangem.com).

    Table 1 lists the updated resource estimates per category:

    
    Table 1: 2007 updated SRK classified mineral resources, Main Zone,
    Louise Lake Project
    -------------------------------------------------------------------------
    Mineral
    Resources(*)        Tonnes        Cu (%)     Mo (%)   Au (g/t)   Ag (g/t)
    -------------------------------------------------------------------------
    Indicated         26,000,000      0.231      0.008       0.22       1.01
    -------------------------------------------------------------------------
    Inferred         125,000,000      0.239      0.009       0.23       0.99
    -------------------------------------------------------------------------
    (*) All resources quoted at 0.15% copper cut-off

    -------------------------------------------------------------------------
    

    The 2007 estimate uses an actual copper cut-off value of 0.15%, rather
than the "copper equivalent" (CuEq) cutoff value of 0.25% used in the 2006
estimate. Comparison of the two estimates using the 0.25% CuEq cutoff instead,
with identical metal prices, indicates that the 2007 estimated tonnage has
been increased by 8%, with very similar metal grades. Grades of the Indicated
Resource category, which has been increased to 26,000,000 tonnes from
6,000,000 tonnes, are also substantially increased from 2006 values.
    The Main Zone hosts an unusual mineral assemblage, with copper occurring
as an equal mixture of enargite and chalcopyrite. The 2004 through 2006
programs extended the known dimensions of the east-west striking, moderately
north-dipping tabular Main Zone both to the west and east, as well as down-dip
to the north. By 2006, the Main Zone was known to be at least 970 meters long,
up to 170 meters wide, and extending to a depth of 250 - 270 meters, where it
is abruptly truncated by the flat-lying "Terminator" fault.
    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 was done 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 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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NORTH AMERICAN GEM INC.

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