North American Gem Inc. Approves Share Consolidation and Name Change to Victory Mountain Ventures Ltd.

North American Gem Inc. (NAG) (TSX VENTURE:NAG) confirms that at the annual
general and special meeting held on June 22nd, 2012 (the "Meeting"),
shareholders approved, by special resolution, a consolidation of the Company's
common shares on the basis of one (1) post-consolidated share for every forty
(40) pre-consolidated shares (the "Consolidation"). As of the Meeting, the
Company had 193,787,160 issued and outstanding common shares. Following the
Consolidation, the Company will have approximately 4,844,679 shares outstanding.
No fractional shares will be issued, but will instead be rounded as provided for
in the Business Corporations Act (British Columbia). The TSX Venture Exchange
has approved the Consolidation and commencing August 3rd, 2012, the Company's
common shares will trade on a post-consolidation basis.


At the June 22nd , 2012 Meeting, shareholders also approved, by special
resolution, to adopt new Articles under which the Company can change its name by
way of a Directors Resolution. The Board of Directors has reserved the name
Victory Mountain Ventures Ltd. and the Company will begin trading under the new
symbol VMV on August 3 rd , 2012. Registered shareholders will receive a letter
of transmittal from Computershare Trust Company, the Company's transfer agent,
with instructions for exchanging their pre-consolidation shares.


North American Gem Inc. (TSX VENTURE:NAG) is a Junior Exploration Company based
in Western Canada. The Company has interests in Copper, Gold, Silver, 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.