True North Gems Inc.

True North Gems Inc.

March 03, 2005 09:00 ET

True North Gems Announces the First Sale of Canadian Emeralds at the Prospectors and Developers Association Convention


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRUE NORTH GEMS INC.

TSX VENTURE SYMBOL: TGX

MARCH 3, 2005 - 09:00 ET

True North Gems Announces the First Sale of Canadian
Emeralds at the Prospectors and Developers Association
Convention

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 3, 2005) - True North
Gems Inc. (TSX VENTURE:TGX) is pleased to announce the sale of the first
products made from Canadian emeralds be offered for sale at the
Prospectors and Developer Association Convention in Toronto, March 7
through 10, 2003. This limited sale will include a selected collection
of a range of finished jewellery products in a range of prices including
beads and faceted goods from emeralds recovered from the Company's Tsa
da Glisza project located in the Finlayson District, Yukon, Canada.

The sale is part of the emerald valuation process relevant to branded,
certified goods sold at the retail level and will be available at the
trade show exclusively from R.T. Boyd Limited Booth #219. The special
jewellery collection of Tsa da Glisza emerald is currently being
fabricated under the design and supervision of True North Gems. This
will be the first in a series of collections of finished jewellery
products that will be offered for sale in 2005 exclusively from True
North Gems. Future sales will eventually include Canadian sapphires from
the Company's Beluga sapphire project on Baffin Island and Greenland
rubies from the Fiskaenesset ruby project, Greenland in addition to True
North's Yukon emeralds.

The emerald valuation process in being performed, in-house, by William
Rohtert, True North's Chief Operating Officer. Mr. Rohtert is qualified
person as defined by National Instrument 43-101. Mr. Rohtert directly
controls the gemmological grading and manufacturing experiments.
Independent valuations are being provided by Mr. Warren Boyd of Toronto,
Ontario and Mr. Gordon Austin of Tucson, Arizona. Both gentlemen are
also qualified persons as defined by National Instrument 43-101. Mr.
Boyd is a geologist and gemmologist who is currently engaged in the
valuation of diamond rough from operating diamond mines in the Northwest
Territory. Mr. Austin is a geologist and geological engineer, recently
retired as the Gemstone Commodity Specialist at the United States Bureau
of Mines. All three gentlemen are well acquainted with global emerald
prices at run-of-mine rough, loose polished wholesale, and branded
retail levels.

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

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


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    True North Gems Inc.
    William Rohtert
    Chief of Operations
    (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
    ken@truenorthgems.com
    www.truenorthgems.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the release.