North American Gem Inc.

North American Gem Inc.

January 31, 2006 09:00 ET

North American Gem Inc. Announces a 40 Hole Drill Program After Receiving Initial Results from the Whiskey Gap Uranium Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 31, 2006) - North American Gem (TSX VENTURE:NAG) (the "Company") announces that significant results have been encountered during drilling on the Whiskey Gap Uranium Project, and that a Phase 2 drilling program is anticipated to begin by March 1, 2006.

The Phase 1 Drill Program of 1200 meters was completed in December 2005, to evaluate anomalous Radon gas values in ground water, which exceeded 5000 picocuries per liter.

Anomalous radioactivity, up to a maximum thickness of 5 meters, was encountered in seven drill holes over a wide area within carbonaceous mudstones, in association with a thick sandstone channel sequence.

Assay results from the SRC indicate that the radioactive zones are enriched with Uranium. The source of the Radon anomaly was not located, however a substantial enrichment of heavy metals is present, this heavy metal enrichment halo is typical of sandstone uranium deposits.

The radioactive zones also contain significant, copper, arsenic, molybdenum, vanadium and barium. These pathfinder elements typically occur in association with sandstone uranium deposits in Wyoming and Colorado.

North American Gem is extremely encouraged by these preliminary results, and is confident that further work in the area will define significant sandstone hosted Uranium mineralization.

The Phase 2 drill program will include drilling of up to 40 holes to further delineate the sandstone channel system and define the mineralization.

The Whiskey Gap Project is a Joint Venture between North American Gem Inc. and International Ranger Corp., whereby the Company can earn a 70% interest by spending $1,250,000 over 3 years. An additional 10% can be earned by taking the project to feasibility.

The Whiskey Gap property is underlain by a series of fluvial sandstones of Cretaceous age, thought to be analogous to sandstones in parts of Wyoming that host significant Roll front Uranium deposits.

The project is under the direction of Glenn S. Hartley P. Geol. in accordance with the regulations of National Instrument 43-101, and the contents of this news release have been reviewed by Glenn S. Hartley.

About North American Gem Inc. 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 Uranium, Molybdenum, Gold, Copper and other Base metals. The Company is actively pursuing several opportunities, including the company's Louise Lake Property located in British Columbia, Canada and its Uranium and Multi-mineral deposit Properties which are the Del Bonita, the Western Basin, the Bonny Fault, and the Whiskey Gap, all located in Alberta, Canada.

On Behalf of the Board of Directors


Charles Desjardins, President and Director

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. 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.

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

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