North American Gem Inc. Closes Private Placement

North American Gem Inc. (NAG) (TSX VENTURE:NAG) would like to announce that it
has closed the Non-Brokered Private Placement announced March 29th 2011. NAG
raised $1,183,350 at a price of $0.075 per share.


A total of 5,940,000 units were issued as non-flow-through units consisting of
one common share and one share purchase warrant. One warrant will entitle the
holder to purchase one additional common share of the company at a price of
$0.10 per share in the first year, $0.12 per share in the second year, and $0.15
per share in the third year.


A total of 9,838,000 units were issued as flow-through units consisting of one
common share and one-half of one share purchase warrant. One warrant will
entitle the holder to purchase one additional common share of the company at a
price of $0.10 per share in the first year, $0.12 per share in the second year,
and $0.15 per share in the third year.


Shares, warrants and any shares issued upon exercise of the warrants are subject
to a hold period of four months expiring August 15th 2011. The proceeds of the
private placement will be used for exploration of the company's mineral
properties and general working capital.


The following insider and pros participated in the private placement;

Insider: Dave Bissoondatt 200,000 non-flow-through shares.

Pro group: Ivano Veschini 300,000 flow-through shares; Kerry Chow 1,200,000
flow-through shares; Roberto Chu 300,000 non-flow-through shares; David Hamilton
100,000 flow-through shares; Shaun Chin 280,000 flow-through shares.


Finders' fees: Canaccord Genuity Corp. receives $5,625 and 75,000 share purchase
warrants (same terms as above); Haywood Securities Inc. receives $68,002.50 and
906,700 share purchase warrants (same terms as above); Alex Kuznecov receives
$5,257.50 and 70,100 share purchase warrants (same terms as above); Union
Securities Ltd. receives $7,500 and 100,000 share purchase warrants (same terms
as above).


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.