True North Gems Inc.

True North Gems Inc.

June 22, 2005 09:12 ET

True North Gems Announces High Grade Ruby Concentrations From Greenland

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 22, 2005) - True North Gems (TSX VENTURE:TGX) is pleased to announce the preliminary results of the rough stone sorting to determine the ruby grade of the mini-bulk sample collected in 2004 at the Siggartartulik ruby prospect, one of 6 ruby deposits discovered by the Geological Survey of Greenland and Denmark which are located within the Company's 110 square kilometre exploration license in the historic Fiskenaesset district, Greenland.

The initial round of processing of ruby bearing material from the measured 2.584 tonne mini-bulk sample has been completed and has resulted in the recovery of significant quantities of gem-quality ruby and pink sapphire in the native state. The sample was sorted by certified gemmologists, and was found to contain 371.48 grams of gem; 8,400 grams of near gem; and 16,362 grams of non-gem.

To date, the 57.0 grams of gem plus near-gem quality rough recovered from a 1.662 kilogram hand-mining fraction have produced a total of 172 faceted rubies and pink sapphires with a total weight of 46.83 carats, for an initial yield on faceting of 16.4 percent. In addition, the hand-mining fraction has also produced 83 cabochons with a total weight of 33.42 carats, and 743 beads with a total weight of 685.15 carats.

Preliminary valuations show that the polished gem fraction from this portion of the sample alone is estimated to contribute US$313 per tonne to the overall valuation. Final valuation of the ruby mini-bulk sample is expected by September.

The balance of the measured sample contains:

Total Fiskenaesset Measured Sample
-2.584 tonnes-
(weights reported in grams; 1 gram equals 5 carats)

Gem Near-Gem Non-Gem
Total Weight 371.48 8,400.39 16,362.77
grams/tonne 143.76 3250.92 6332.34

"We are extremely gratified by the results from the Greenland ruby project" said William Rohtert, True North's Chief Operating Officer. "The output of gem-quality ruby and pink sapphire in the native state from the mini-bulk sample at Siggartartulik confirms the high-grade concentrations from a representative sample." Test cutting of the pink sapphire has successfully yielded polished goods up to 0.71 carats in weight. Rubies and pink sapphire from Greenland are available for viewing at .

By way of comparison, the rough stone counts for all three True North's projects are listed below:

Comparative Rough Stone Grades, True North Projects

Sampled Gem Near-Gem Non-Gem
Yukon Emerald 2,533.1 0.59 5.66 9.09
Baffin Sapphire 4.3 33.1 115.0 642.6
Greenland Ruby 2.6 143.76 3,250.92 6,332.34

Ruby is one of the rarest and most valuable gemstones on earth. It is a variety of the mineral corundum (Al2O3) that gets its red colour from the element chromium (Cr) which also induces fluorescence in the stone, making it appear to glow from within. Large, high quality rubies can exceed diamonds in value and sell in the range of US $1,450-$25,000 per carat.

The planning and execution of the ruby exploration and quality control programs at the Fiskenaesset Project are under the supervision of William Rohtert, True North's Chief Operating Officer. Mr. Rohtert is a qualified person as defined by National Instrument 43-101. Mr Rohtert also directly controls the gemmological grading and manufacturing experiments.

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 deposit in Greenland.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release. The Company relies on litigation protection for "forward-looking" statements.

Contact Information

  • True North Gems Inc.
    William Rohtert
    Chief of Operations
    (604) 687-8055 or 1-800-399-8055
    True North Gems Inc.
    Ken Shortt
    Investor Relations
    (604) 687-8055 or 1-800-399-8055