NAG North American Gem Inc.

North American Gem Inc. (TSX VENTURE: NAG) (the "Company") announces that, subject to TSX Venture Exchange approval, 759,775 common share purchase warrants outstanding in connection with a $1,007,000 non-brokered private placement financing that closed December 27, 2007 will have their expiry date extended as noted below.

The amended terms of the outstanding warrants will allow the holders of the warrants to exercise them at a price of $0.15 until December 27, 2012.

North American Gem Inc. (TSX VENTURE: 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 Kentucky, 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.

On Behalf of the Board of Directors

NORTH AMERICAN GEM INC.

Charles Desjardins, President and Director

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.

"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."

Contacts: North American Gem Inc. Charles Desejardins President and Director 604-683-5445 604-687-9631 (FAX) info@northamericangem.com www.northamericangem.com