NAG North American Gem Inc.

North American Gem Inc. (NAG) (TSX VENTURE:NAG) reports that it has entered into
a legally binding and enforceable agreement with the Hunter Dickinson Group
("HDG"), to implement a Joint Venture on its Louise Lake property (the "Joint
Venture Agreement") located in central British Columbia.


In order for HDG to retain its initial ownership interest of 50% in the
property, HDG must make cash payments as follows: $50,000 upon execution of the
Joint Venture Agreement (paid), $25,000 by May 31st 2012, and $25,000 by August
31st 2012. A further $100,000 cash payment or, at the sole election of HDG, the
issuance of common shares of HDG having the equivalent value after completion of
its initial public offering or an equivalent transaction ("Listed Shares") will
be due following receipt of a Notice of Work ("NOW") by HDG.


On the first anniversary of the receipt of the NOW by HDG, HDG must make a
payment of $200,000, $100,000 of which, at the sole election of HDG, can be made
through the issuance of Listed Shares. Within the first two years from receipt
of the NOW, HDG will also be required to incur exploration expenditures totaling
$3,000,000.


Provided that HDG has retained its initial ownership interest of 50%, HDG will
have an option, exercisable at its sole discretion, to earn an additional 30%
ownership interest for a total ownership interest of 80%. In order for HDG to
acquire the additional ownership interest of 30%, HDG must, on each of the third
and fourth anniversaries of the issuance of the NOW, make a payment to NAG in
the amount of $200,000, $100,000 of which, at the sole election of HDG, can be
made through the issuance of Listed Shares. Within the third and fourth years of
the receipt of the NOW, HDG will also be required to incur exploration
expenditures totaling $7,000,000.


Currently, there is a 2.0% Net Smelter Return royalty ("NSR") in favour of the
original vendors of the property, of which 50% of the NSR can be acquired for a
$1,000,000 payment to the original vendors thereby reducing the NSR to 1%.


North American Gem Inc. (TSX VENTURE:NAG) is a Junior Exploration Company based
in Western Canada which holds certain coal assets within North America., In
addition to Coal exploration, the Company also has interests in 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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