True North Gems Inc.
TSX VENTURE : TGX

True North Gems Inc.

January 31, 2011 09:00 ET

True North Gems Inc.: Socioeconomic Impact Assessment Begins

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2011) - True North Gems Inc. (TSX VENTURE:TGX) announced today that the Socioeconomic Impact Assessment (SIA) process will begin with stakeholder workshop consultation on February 6 in Nuuk and February 7, 2011 in Qeqertarsuatsiaat, Greenland. The SIA process, being coordinated by Danish/Greenlandic consultants Grontmij | Carl Bro, will form a part of the company's exploitation (mining) permit application for the Aappaluttoq Ruby Project located in the Qeqertarsuatsiaat district of South-western Greenland.

The discussions at the stakeholder meetings will be used by Carl Bro to direct the SIA process toward the main issues and concerns that need to be addressed in the SIA. Immediately following the meetings Carl Bro will conduct individual and group interviews in Greenland to establish a social baseline study. Carl Bro will then prepare a draft SIA that will be reviewed in public meetings prior to completion of the final SIA.

In conjunction with the stakeholder meetings, True North Gems has prepared a Project Brief setting out the strategy for development at Aappaluttoq so that the stakeholders may assess the project and its potential for both positive and negative impacts. This document is available in Greenlandic, Danish and English on the company's website at www.truenorthgems.com. The company has also prepared a Ruby and Pink Sapphire Introduction, also available in Greenlandic, Danish and English, which is designed to assist in understanding the nature of the gemstones to be mined at Aappaluttoq. Both documents are available under the tab "Aappaluttoq Permitting" on the home page.

Nicholas Houghton, CEO and President of True North Gems stated, "We are pleased to begin the SIA process and begin direct discussions with the people of Greenland regarding the benefits of this project. I believe that all people of Greenland will benefit from the project, whether from direct training and employment, through spin-off benefits of the activities, or from increased tourism that world marketing of Greenland rubies will bring. I look forward to a constructive process of maximizing the benefits we can provide and building an enduring relationship with the people of Greenland."

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 Aappaluttoq ruby and pink sapphire project, 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 Aappaluttoq Ruby Project 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