True North Gems Inc.
TSX VENTURE : TGX

True North Gems Inc.

January 18, 2007 09:15 ET

True North Gems Announces Ruby and Sapphire Valuations

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - True North Gems (TSX VENTURE:TGX) is pleased to announce the independent valuation of a selected sample of untreated, polished rubies and pink sapphires from the Aappaluttoq ruby occurrence within the Company's 110 km2 property located near the village of Fiskenaesset, on the southwest coast of Greenland.



Ruby and Pink Sapphire Valuations
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Wholesale Average Price
Size Range Price Range per Carat
Material (Carats) (US$ per Carat) (US$ Wholesale)
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Ruby 0.23 - 5.70 $410 - $3,220 $950
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Pink Sapphire 0.27 - 2.51 $60 - $460 $285
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A parcel of 37 rough gemstones with a total weight of 140 grams was selected and shipped to domestic manufacturers for cutting. This parcel represents just 0.24% of the total gem material recovered from the 30 tonne, 2006 Aappaluttoq bulk sample. From this parcel, 27 polished stones totaling 33.59 carats, which graded as commercial to fine, were valued at wholesale prices. Yields on polishing ranged from 1.1% to 21.2% with an average of 6%.

The wholesale valuation averages are highlighted by a 0.69 carat fine ruby valued at US$3,220 per carat and a 0.96 carat fine pink sapphire valued at US$460 per carat.



Ruby and Pink Sapphire Total Parcel Value
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Number of Total Weight Total Value
Material Stones (Carats) (US$ Wholesale)
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Ruby 15 20.39 $19,373
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Pink Sapphire 12 13.20 $ 3,753
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Total 27 33.59 $23,126
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The total value of the 27 stones is US$23,126 and will contribute US$770 per tonne to the total valuation of the 2006 Aappaluttoq bulk sample. This material is a preliminary parcel and is not considered to be statistically representative of the entire gem class recovered from the Aappaluttoq bulk sample.

The valuation certificate and additional information on Greenland rubies, technical reports on ruby exploration and other public documents are available at www.sedar.com or, at the company's website, www.truenorthgems.com.

The independent valuation of the ruby and pink sapphire from Aappaluttoq was carried out by Mr. John Mattinson, Geologist, Gemmologist GG (GIA).

The planning and execution of the ruby exploration and quality control programs at the 2006 Greenland ruby project are under the supervision of William Rohtert, True North Gems. Mr. Rohtert is a qualified person as defined by National Instrument 43-101.

True North Gems Inc. is listed on the TSX Venture Exchange and is engaged in the exploration and development of North American coloured gemstone prospects. The Company is a pioneer in coloured gemstone exploration and owns 100% interest in the Yukon-based Tsa da Glisza emerald property and the Beluga sapphire property located on Baffin Island and the rights to earn 100% interest in the Fiskenaesset ruby and pink sapphire property in Greenland.

The Company relies on litigation protection for "forward-looking" statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.

Contact Information

  • True North Gems Inc.
    Andrew Lee Smith
    Chairman and CEO
    (604) 687-8055 or 1-800-399-8055
    or
    True North Gems Inc.
    Ken Shortt
    Investor Relations
    (604) 687-8055 or 1-800-399-8055
    Email: ken@truenorthgems.com
    Website: www.truenorthgems.com