True North Gems Inc.
TSX VENTURE : TGX

True North Gems Inc.

October 07, 2010 09:00 ET

True North Gems Advances Permit Application With Favourable Archeological Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2010) - True North Gems Inc. (TSX VENTURE:TGX) is pleased to announce it has received a favourable preliminary report from the Greenland National Museum with respect to the required archeological survey undertaken over the area of the Aappaluttoq Ruby Occurrence located in the Fiskenaesset district of South-western Greenland.  The preliminary report states that a number of archeological sites were located but none that were unexpected or unique. None of the sites documented in the preliminary report conflict with the company's plan to realize on the commercial potential of the ruby and pink sapphire deposits. The final report is expected prior to the end of 2010.

Nicholas Houghton, CEO and President of True North Gems stated, "The completion of the archeological work and receipt of the preliminary report is a good early step toward our exploitation permit and the subsequent feasibility and development of our ruby and pink sapphire deposit. The completed archeological report together with the current ongoing socio-economic and environmental studies will be major contributors toward the developing and planning of our Aappaluttoq ruby project in a respectful and sustainable manner for the benefit of the people of Greenland and our shareholders."

True North Gems Inc. is listed on the TSX Venture Exchange and is engaged in the exploration and development of Greenlandic and North American coloured gemstone prospects. The Company is a pioneer in coloured gemstone exploration and, currently in Greenland, has the rights to earn 100% interest in the Fiskenaesset ruby and pink sapphire property, holds a 100% interest in the Tsa da Glisza emerald property, Yukon, and the Beluga sapphire property located on Baffin Island, Nunavut. True North's prime focus remains the commercial advancement of the Fiskenaesset property in Greenland.

The Company relies on litigation protection for "forward-looking" statements. Certain technical information contained within this press release is 43-101 non-compliant by virtue of the fact that National Instrument 43-101 which governs public disclosure of technical information for mineral exploration properties in Canada is silent with respect to the exploration and technical disclosure of coloured gemstone properties. The company employs high standards for the collection of geological information and exploration data, employs industry recognized professionals as qualified persons to provide oversight and management of the exploration programs and is committed to the implementation of QA/QC protocols to monitor the integrity of the technical information.

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.
    Nicholas Houghton
    President 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
    info@truenorthgems.com
    www.truenorthgems.com