North American Gem Inc. Receives Approval for M3 Energy Resources, LLC to be the Operator of North American Gem #3 Mine
11 Gennaio 2011 - 3:00PM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) reports that M3
Energy Resources, LLC (M3) has been accepted as the operator of
North American Gem #3 Mine (Mine #3) by the Kentucky Department of
Natural Resources (KDNR). This will allow M3 to complete the
hauling road for production to begin at Mine #3. During the
construction of the hauling road M3 will prepare Mine #3 for
Highwall mining.
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.
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
Preparation 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.
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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