True North Gems Inc.
TSX VENTURE : TGX

True North Gems Inc.

November 30, 2006 16:55 ET

True North Gets Green Light for Ruby Sales

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 30, 2006) - True North Gems (TSX VENTURE:TGX) is pleased to announce that it has received formal approval from the Greenland government to sell rubies and pink sapphires produced from the company's 110 km2 property located near the village of Fiskenaesset, on the west coast of Greenland. In obtaining the approval, True North Gems completed an initial comprehensive marketing plan through MVI Marketing Ltd. of California (see press release of September 19, 2006), which was filed with the Greenland government as part of the approval process.

True North is in the final stages of sorting, grading and analyzing the concentrate from its 30 tonne bulk sample recovered from the Aappaluttoq occurrence in the 2006 field season (see press release of October 4, 2006), and is on schedule to deliver rough gem counts before the end of the year. Cutting has commenced on select parcels of stones and True North expects to provide initial cutting information in the first quarter of 2007.

Additional information on Greenland Rubies, technical reports on ruby exploration and other public documents are available at www.sedar.com or, at the company's website, www.truenorthgems.com.

The planning and execution of the ruby exploration and quality control programs at the Greenland ruby 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.

True North Gems Inc. is listed on the TSX Venture Exchange and is engaged in the exploration and development of North American coloured gemstone prospects.

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.
    Greg Fekete
    President
    (604) 687-8055 or Toll Free: 1-800-399-8055
    or
    True North Gems Inc.
    Ken Shortt
    Investor Relations
    (604) 687-8055 or Toll Free: 1-800-399-8055
    Email: ken@truenorthgems.com
    Website: www.truenorthgems.com