True North Gems Inc.

True North Gems Inc.

July 12, 2005 14:31 ET

True North Gems Starts C$900,000 2005 Greenland Ruby Exploration Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 12, 2005) - True North Gems Inc. (TSX VENTURE:TGX) is pleased to announce that it has commenced an aggressive exploration program for gem-quality rubies on Greenland. The budget for the program is C$900,000 and the work will be focussing on ruby prospects located within the Company's 110 km2 exploration license in the Fiskenaesset district of Greenland. The district lies on the SW coast of Greenland, approximately 160 km south of Nuuk, Greenland's capital. The village of Fiskenaesset is central to the district, only 17 km from the closest ruby occurrence and is an all-weather commercial deep water port.

The objective of the 2005 field season on Greenland is to further define the ruby mineralization which occurs in the Fiskenaesset district and to collect and process mini-bulk samples from 5 of 6 ruby occurrences on True North's property, which were not sampled in 2004. The 1200 square kilometre district will be evaluated by means of geological reconnaissance surveys and each of the 5 ruby occurrences, and any new discoveries, will be mini-bulk sampled and processed to determine gemstone grade and value. The sixth occurrence, Siggartartulik (see the 43-101 Report for 2004, filed June 21, 2005 via SEDAR), will see additional prospecting and geologic mapping.

True North intends to evaluate the potential for commercially viable grades of gem ruby mineralization for the 6 deposits known in the district. At each deposit, detailed geologic studies should permit the calculation of indicated resources. True North also intends to explore the Fiskenaesset district for additional gemstone mineralization.

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.

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.
    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