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Properties

 

Louise Lake Property, British Columbia, Canada
 

The "Main Zone" of the Louise Lake project is located 35 km west of Smithers, British Columbia, Canada, with road access to major rail, highway and electrical infrastructure and services based at Smithers. First discovered in 1968, the Main Zone underwent several phases of diamond drilling and surface exploration culminating in 1992 with a geological resource estimate by Equity Silver Mines Ltd. of 50 million tonnes grading 0.3% copper, 0.3 g/t gold and 0.02% molybdenum (established prior to National Instrument 43-101, historical estimate should not be relied upon). The Metallurgy Department of Equity Silver reported copper and gold recoveries of 95% and 90% respectively.
 

North American Gem Inc. has since completed expansion drilling adding bulk tonnage to the Main Zone. Please review the "Independent Technical report on the Louise Lake Property, Omenica Mining Division, British Columbia" prepared by SRK Consulting (Canada) Inc. This report can be found at
www.northamericangem.com.

North American Gem Inc. is currently conducting metallurgical analysis on the Louise Lake project.

Mt. Ogden Molybdenum Project, British Columbia, Canada

North American Gem Inc. has entered into an option agreement to acquire a 100 per cent undivided interest in the Mt. Ogden Molybdenum deposit, located in northwestern British Columbia, (news release May 3, 2006). The Mt. Ogden property is located in the Atlin Mining District, about 60 km east of Juneau, Alaska, and 130 km south of Atlin , B.C along the Alaska-British Columbia Border.
 

In 1978 Omni Resources carried out preliminary sampling of a number of Molybdenum showings near Mt. Ogden. The known mineralization is associated with an "Alaskite" stock exposed in at least nine separate locations across an area measuring 1,800 metres north-south by 1,500 metres east-west.
Results of trench or continuous surface chip sampling from some of the mineralized zones include:
 

In 1979, Omni Resources carried out underground development and drilling at the "N" and "Z" showings, including about 159 metres of drifting and 589 metres of underground drilling (Elliott and Clouthier, 1981). A small high-grade vein, termed the 'Serious Vein' was encountered; a preliminary
estimate of 30,000 tons of 1.85% MoS2 was provided, based on drilling and underground exploration results. This estimate was produced prior to implementation of modern resource standards contained within National Instrument 43-101, does not distinguish between resource categories, and should not be relied on to necessarily represent accurate estimates under modern standards. No subsequent resource estimates have been made. North American Gem is not treating this estimate as an NI 43-101 defined resource verified by a Qualified Person and has not done the work necessary to verify
the classification of the resource.
 

North American Gem Inc. is currently preparing a 43-101 technical report for the Mount Ogden property.

 

Whiskey Gap Project, Southern Alberta, Canada
 

North American Gem Inc. announced a joint venture agreement has been entered into with International Ranger Corp. on its 44,400 acre Whiskey Gap uranium property located in southern Alberta along the Canada/U.S.A border. Preliminary sampling of domestic water sources by International Ranger has defined several very strong radon and uranium anomalies in the water, that
compare favorably with published radon studies conducted in proximity to sandstone hosted uranium ore bodies in south Texas.
 

The Whiskey Gap property is contiguous with North American Gems 200,000 acre Del Bonita property and underlain by a series of fluvial sandstones of Cretaceous age, thought to be analogous to sandstones in parts of Wyoming that host significant roll front uranium deposits.
 

"We were extremely excited when we first saw the International Ranger water sampling results. The high levels of radon and uranium in the samples validate the interest for ourselves, International Ranger, and other companies have taken in southern Alberta, as a potential source of rollfront
uranium," says Charles Dejardins, North American Gem Inc.'s President. Approximately 250,000 acres of ground prospective for rollfront uranium has been staked from the Canada/U.S.A border up to Calgary, Alberta, since March 1st, 2005.

Del Bonita Project, Southern Alberta, Canada

The Del Bonita property consists of four major formations comprising more than 200,000 acres of prospective uranium land in southern Alberta. The four target formations are known as Willow Creek, Milk River, St. Mary River and Ravenscrag.

There is easy access across the southern Alberta rangeland which consists of upper-Cretaceous to lower-Tertiary sandstones and silty limestones that occurs near-surface. Roll-front uranium has been observed in the Willow Creek formation along drainages that contain naturally high concentrations of uranium. Reconnaissance sampling programs carried out in 1981 and 1982, including samples taken from a roll-front exposed in a river bank, returned up to 2,000 parts per million uranium (0.2% U3O8). The technique used to analyze the reconnaissance samples had an upper detection limit of 2,000 parts per million uranium. Normally, samples running at upper detection limits are re-analyzed with different laboratory techniques, but in this case there is no record of such over-limit analyses having been performed. The area is easily accessible for re-sampling.

Bonny Fault Project, Northeastern Alberta, Canada

The Bonny Fault property consists of five mineral claims comprising approximately 117,000 contiguous acres (468 sq. km). Local geology within the property consists of a wide range of massive to foliated granitoids, metasedimentaries and metavolcanic rocks. Several major faults affect most
of the rock units; these faults include the northwesterly-trending Bonny Fault, and several subsidiary faults that complicate the structural setting. Faults in this region are expressed as early shear zones that are characterized by mylonites, as well as by later more shallowly seated ductile-brittle and brittle fault zones. Retrograde greenschist facies minerals indicate a Palo-Proterozoic to possibly Meso-Proterozoic age for this large scale faulting, which has been favourable for other economic
uranium deposits within the Precambrian Shield in the Uranium City area of north-central Saskatchewan.
 

One mineral showing of note discussed in the April 5th press release is the AGS documented: West Arm of Andrew Lake showing with a 3.93% U3O8 and 1.03% Mo sample.
 

North American Gem Inc. has commenced an extensive airborne geophysical survey on its Bonny Fault Property, Northeastern Alberta. Terraquest Surveys of Markham, Ontario has been contracted to fly approximately 2,700 line kilometers of geophysical survey, 100 km southeast of Fort Smith (news release Aug 9,2006).
 

The results of this study will be available soon.

Western Basin Property, Northeastern Alberta, Canada

The property covers exposed Precambrian shield rocks mapped as the Wylie Lake and Fishing Creek Granitoids. These Precambrian rock units underlie the Athabasca Sandstone units within the Basin and are important components of uranium mineralization. This geology is similar of the geology which hosts some of the world class, high-grade uranium deposits found in the Athabasca uranium district, such as the Colette, Anne, Key Lake and Maurice Bay Deposits.

Historically, uranium exploration programs in the Athabasca Basin have been hampered by the high costs associated with deep (+300m) drilling programs needed to reach and test the targeted Athabasca unconformity. Alberta Geological Survey Bulletin No. 55 documents several historic drill holes, which map the Athabasca Unconformity on North American Gem Inc.’s Western Basin Property, between 10 m and 95 m from surface.

The eastern edge of the property is the Alberta / Saskatchewan boarder, 5 kms from Cameco Corporation’s Maurice Bay project. The Maurice Bay uranium deposit is located within the northwest margin of the Athabasca Basin. It has 600 tonnes contained uranium at a grade of 0.5% U. The Maurice Bay deposit includes structurally controlled mineralization within altered basement rocks and an Athabasca unconformity-style of uranium mineralization. Due to this deposits close proximity to, and shared fault structure and geology with North American Gem Inc.’s Western Basin Property, the Maurice Bay Deposit Model has become North American Gem Inc.’s geological exploration model for it’s Western Basin Property.
 

Recent News and Press Releases

 

 

 

 

Management Team

Charles Desjardins
Position: President, Director

Mr. Desjardins brings almost 20 years of public company experience in the areas of finance and public company management. He is the President and CEO of Tandem Capital Group Inc., which was active in the investor relations field during the mid 1990's. Mr Desjardins was also the past President of Victory Ventures Inc, which began as a mineral exploration company, and subsequently became Global Investment.Com Financial Inc.

Bruce Lock
Position: Director

Mr. Lock has over ten years experience in the public markets and has been a director or officer of a number of other public companies.

Egil Livgard, P. Eng.,
Position: Director

Mr. Livgard is a graduate of the University of British Columbia in geology and has 45 years of experience, ranging from exploration, property evaluation, and mining geology to mine management. Mr. Livgard has consulted for numerous companies requiring regulatory reports for B.C., Alberta and Ontario. His other interests include the related field of hydrometallurgy and bio-leaching.
 

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