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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2011) - North American Gem Inc. (NAG) (TSX VENTURE:NAG) has arranged a non-brokered private placement of up to 14,000,000 units at a price of $0.075 per unit for total proceeds of up to $1,050,000 subject to the approval of the TSX Venture Exchange.


Up to 4,000,000 units will be issued as non flow-through units consisting of one common share and one full warrant. One full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share in the first year, $0.12 per share in the second year, and $0.15 per share in the third year.


Up to 10,000,000 units will be issued as flow-through units consisting of one common share and one half (1/2) share purchase warrant, one full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share in the first year, $0.12 per share in the second year, and $0.15 per share in the third year.


The proceeds of the private placement will be used for exploration work on the Company's mineral properties and general working capital. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering.



North American Gem Inc. (TSX VENTURE:NAG) is a Junior Exploration Company based in Western Canada. The Company's primary goal is to explore for Coal in North America, currently the focus is in Kentucky, Saskatchewan, and West Virginia. In addition to Coal exploration, the Company also has interests in Uranium, Copper, Gold, 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.




FOR FURTHER INFORMATION PLEASE CONTACT: Charles Desjardins
North American Gem Inc.
President and Director
604-683-5445
604-687-9631 (FAX)
info@northamericangem.com
http://www.northamericangem.com/">www.northamericangem.com