North American Gem Inc. Resumes Mining Operations at North American Gem #2 Mine
September 28 2011 - 11:47AM
Marketwired Canada
North American Gem Inc. (NAG) (TSX VENTURE:NAG) reports that it has resumed
mining operations at the North American Gem #2 Mine. Reclamation and production
equipment is currently being mobilized to the mine site.
Under an Agreed Order with the United States Bankruptcy Court, NAG has recently
been granted relief to replace M3 Energy Resources, LLC, who were listed as
operators at the North American Gem #2 Mine in December 2010.
"We are pleased to finally be able to move past the operating complications that
were inhibiting production at the North American Gem #2 Mine," stated Charles
Desjardins, President of North American Gem Inc. "We are looking forward to
concentrating on maximizing the Company's assets in Kentucky."
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. 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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