NAG North American Gem Inc.

North American Gem Inc. (NAG) (TSX VENTURE:NAG) would like to announce that the
first tranche of the non-brokered private placement originally announced on
August 4th, 2010 and reprised on September 8th 2010 has been conditionally
accepted by the TSX Venture Exchange. The Company raised $792,086.24 at a price
of $0.08 per unit in the first tranche.


A total of 9,901,078 units were issued as non-flow-through units consisting of
one common share and one non-transferable share purchase warrant. Each warrant
will entitle the holder to purchase one additional common share of the company
at a price of 10 cents per share for the first year, 12 cents per share on the
second year and 15 cents per shares until expiration on the third year.


Shares, warrants and any shares issued upon exercise of the warrants are subject
to a hold period expiring January 21, 2011. The proceeds of the private
placement will be used for exploration of the company's mineral properties and
general working capital.


The following insider and pros participated in the private placement;

Insider: Charles Desjardins 200,000 shares

Pro group: Ivano Veschini 250,000 shares, Kerry Chow 400,000 shares, Roberto Chu
100,000 shares, and Paul Wann 150,000 shares.


Finders' fees: $38,100 cash and 476,250 warrants (same terms as private
placement above) payable to PI Financial Corp. $7,200 cash and 90,000 warrants
(same terms as above) payable to Bolder Investment Partners. 


North American Gem Inc. (TSX VENTURE:NAG) is a junior resource company in
Western Canada. The company's major focus is expanding its coal mining
operations at its flagship properties in Kentucky. In addition, the company has
interests in coal, copper, 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. The
production rate and mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations will be
economically viable. 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.

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