North American Gem Inc. Partners With M3 Energy Resources, LLC
21 Dicembre 2010 - 3:00PM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) has entered into a
new partnership with M3 Energy Resources, LLC (M3) who will become
the operators on North American Gem #2 Mine and the fully permitted
North American Gem #3 Mine. The process to register M3 as operator
with the Kentucky Department of Natural Resources, as well as
paperwork with MSHA and mine license with Kentucky Department of
Mines and Minerals has commenced. Once completed M3 will start
mining on North American Gem #2 Mine and prepare North American Gem
#3 Mine for Highwall mining which is expected to begin in January
2011.
M3 Energy Resources, LLC has a management team with a proven
track record in coal mining, engineering, finance and business
management. M3's current operations are in Central Appalachia where
they control vast low sulfur, high BTU coal reserves with decades
of mining life remaining. M3 is a large operation capable of
managing several projects simultaneously; currently M3 is operating
Highwall Miners, Surface Mines, Underground Mines, and a Prep.
Plant with fine coal circuit and loadout facilities. Utilizing
state-of-the-art equipment and advanced mining techniques maximizes
the efficiency of their mining operations at the same time that it
helps increase the level of safety.
For additional information on M3 Energy Resources, LLC please
visit their website at: http://www.3mcoal.com/
Mr. Dean Schafer is acting as operations manager for NAG on all
of NAG's Kentucky coal leases and is currently implementing an
overall mine plan.
Ms. Deborah Moses, P.Eng., PLS, REM, of Engineering Consulting
Services Inc. (ECSI), has approved the technical content of this
release. Ms. Deborah Moses is the qualified person for NAG's coal
operations 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.
"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 Desjardins President
and Director 604-683-5445 604-687-9631 (FAX)
info@northamericangem.com www.northamericangem.com
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