NAG North American Gem Inc.

North American Gem Inc. (TSX-V: NAG) would like to announce that it has amended the Ranger Lake option agreement, subject to TSX Venture Exchange approval.

The new terms of the agreement are as follows:

--  The Optionee shall issue to the Optionor 200,000 common shares
    immediately upon approval by the TSX Venture Exchange.
--  The Optionee shall issue to the Optionor 200,000 common shares by the
    anniversary date of the original agreement (May 15, 2009).
--  The Optionee shall issue to the Optionor payment of $40,000 and issue
    50,000 common shares by May 15, 2010.
--  The Optionee shall issue to the Optionor payment of $60,000 by May 15,
    2011 at which point all terms of the amended option agreement will have
    been fulfilled.
    

The Ranger Lake Uranium property, totaling 19,280 acres, is located in the Sault Ste. Marie Mining district of Ontario. The property has road access as it is located to the east of Ranger Lake just north of Highway 556 and west of Highway 129. The Ranger Lake Uranium property is located approximately 60 miles northwest of the historic Elliot Lake Uranium mines.

The Ranger Lake Uranium property was staked as a result of favorable radiometric anomalies in conjunction with high lake sediment samples. A particular lake sediment sample recorded a value of 994.2 ppm uranium (2.35lbs/ton uranium), and was recovered from the Renwich Township. This data was released prior to establishment of current standards under National Instrument 43-101, and has not been substantiated by North American Gem Inc., and therefore should not be relied upon.

North American Gem Inc. contracted Terraquest Surveys of Markham, Ontario to fly an airborne survey over the Ranger Lake property and is currently analyzing the geophysical survey data to select targets for further exploration.

Mr. Garry Clark, P.Geo will be operating as the Company's qualified person under National Instrument 43-101 for the Ranger Lake Uranium Property.

North American Gem Inc. (TSX-V: NAG) is a Junior Exploration Company based in Western Canada. The Company's primary goal is to explore for Coal in North America, currently the focus is in Saskatchewan and West Virginia. In addition to Coal exploration, the Company also has interests in Uranium, Copper, Gold, Molybdenum and other base metals in Canada. The Company has advanced the Louise Lake Copper-Gold-Molybdenum-Silver project, located in British Columbia and has produced a NI 43-101 compliant resource estimate (included in its NI 43-101 Technical Report dated July 14, 2006 and updated February 6, 2009, as filed on SEDAR). The Uranium projects include the Whiskey Gap and Western Basin in Alberta, the Mosquito Gulch property in the Northwest Territories and the Ranger Lake Uranium property in Ontario.

On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"

Charles Desjardins
President and Director

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary note:

This report contains forward-looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.

Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

North American Gem Inc. 604-683-5445 info@northamericangem.com