SOURCE: North American Gem Inc.

North American Gem Inc.

April 24, 2009 17:31 ET

North American Gem Inc. Amends News Release Regarding Repricing and Extension of Warrants

VANCOUVER, BC--(Marketwire - April 24, 2009) - North American Gem Inc. (TSX-V: NAG) (the "Company") would like to amend the news release dated April 23, 2009, which stated that the Company had applied, subject to the TSX Venture Exchange approval, to amend the terms of 2,742,500 common share purchase warrants in connection with a $1,118,700 non-brokered private placement financing that closed May 7, 2007.

Subject to TSX Venture Exchange approval, the holders of the warrants may exercise the warrants at the amended price of $0.08 until May 7, 2012. In the event that the common shares of the Company are traded on the TSX Venture Exchange at a price of $0.10 or more for ten consecutive trading days, (the "Premium Trading Days") the warrants will expire on the earlier of May 7, 2012 and 4:30 p.m. (Pacific Time) on the date which is 30 calendar days after Premium Trading Days have occurred. The 30 day period will commence seven calendar days after the tenth Premium Trading Day.

North American Gem Inc. (TSX-V: 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 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. The Company has advanced the Louise Lake Copper-Gold-Molybdenum-Silver project, located in British Columbia and has produced a NI 43-101 compliant resource estimate (included in its NI 43-101 Technical Report dated July 14, 2006 and updated February 6, 2009, as filed on SEDAR). The Uranium projects include the Whiskey Gap and Western Basin in Alberta, the Mosquito Gulch property in the Northwest Territories and the Ranger Lake Uranium property in Ontario.

On Behalf of the Board of Directors
"Charles Desjardins"

Charles Desjardins
President and Director
"Neither TSX Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release."

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. 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.

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