True North Gems Inc.
TSX VENTURE : TGX

True North Gems Inc.

February 26, 2015 14:30 ET

True North Gems Appoints Raymond Simpson to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 26, 2015) - True North Gems Inc. (TSX VENTURE:TGX) ("True North" or the "Company") is very pleased to announce the addition of Mr. Raymond Simpson to their Board of Directors.

Mr. Simpson has over 20 years of experience in the diamond industry and is currently managing director of Diamond Asset Advisors, a Swiss based alternative investment advisor specializing in diamond related investment and financial products. Until recently he was an Executive Vice-President of Dominion Diamond Corp. ("DDC"), formerly known as Aber Resources, then subsequently as Harry Winston Diamond Corporation. In 2003, Mr. Simpson joined DDC, then a junior diamond mining company listed on the Toronto Stock Exchange, to oversee their strategic expansion into retailing. Mr. Simpson ultimately assumed the role of Chief Operating Officer. Mr. Simpson started his career with De Beers where, over a 14-year period, he held a variety of roles ranging from mine resource evaluation to supply/demand forecasting and consumer marketing. As Head of Business Development for the De Beers in London, Mr. Simpson was instrumental in establishing a retail joint venture between De Beers and LVMH Moet Hennessey in 2000.

"I am delighted to join the Board of True North Gems at this exciting time in the Company's development," Mr. Simpson stated.

"The business acumen and experience that Mr. Simpson will bring to the Company dovetails perfectly with the growth of True North Gems. Having the opportunity to utilize his diverse knowledge as we go forward will be beneficial to all," commented Mr. Nicholas Houghton, President and CEO.

In accordance with the Company option plan 500,000 stock options have been granted to Mr. Simpson, with each option vesting immediately, having an exercise price of $0.17 per share and expiring on February 26, 2020. The issuance of the stock options is subject to the provisions of the Company's Stock Option Plan, the policies of the TSX Venture Exchange and applicable securities laws

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document contains "forward-looking information" and "forward-looking statements" (together, "forward-looking statements") within the meaning of applicable securities legislation, which are made as of the date of this document or the document(s) referred to herein. Statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements include, without limitation, statements with respect to: the amount of mineral reserves and mineral resources; the amount of future production over any period; net present value and internal rates of return of the proposed mining operation; capital costs; operating costs; strip ratios and mining rates; and mine life. The forward-looking statements are made based upon certain assumptions which, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by the forward-looking statements. These assumptions include, without limitation: the price of gemstone products produced; anticipated costs; the presence of and continuity of gemstones at modeled grades and values; the capacities of various machinery and equipment; the availability of personnel, machinery and equipment at estimated prices; exchange rates; appropriate discount rates; tax rates applicable to the proposed mining operation; financing structure and costs; anticipated mining losses and dilution; gemstone recovery rates; reasonable contingency requirements; and receipt of regulatory approvals on acceptable terms. By their very nature, forward-looking statements involve inherent risks and uncertainties that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements. These include, without limitation: price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks, regulatory restrictions (including environmental regulatory restrictions and liability), activities by governmental authorities (including changes in taxation), currency fluctuations, the speculative nature of gemstone exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees; additional funding requirements and defective title to mineral claims or property]. This list is not exhaustive. See also, for example, the risks disclosed in the Company's other disclosure documents filed at www.sedar.com, including, without limitation, those disclosed in the Company's management's discussion & analysis. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, except as otherwise required by applicable securities legislation.

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