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TSX-Venture: NAG
US: NGEMF
North American Gem Inc. To Investigate 41 High Priority Uranium Targets
on the Bonny Fault Property, Northern Alberta
June 18, 2007: North American Gem Inc. (TSX-V symbol: NAG) is pleased to announce that
planning is underway for a summer exploration program at its Bonny Fault and Western Basin
Uranium properties. The properties encompass approximately 160,000 acres of mineral tenures
located in northeastern Alberta, just north of the Athabasca Basin.
At Bonny Fault, an airborne geophysical program was completed during 2006, it identified 276
linear and point-source uranium anomalies, and several major structures of interest. In addition,
there at least 50 known metallic mineral occurrences within the properties.
The 2007 summer exploration program will included the follow-up of an estimated 41 priority
airborne radiometric targets, time permitting. The program will also target the zones of historic,
high-grade, surface uranium mineralization.
Mr. Jeremy S. Brett, M.Sc. P.Geo., Senior Geophysical Consultant for MPH Consulting Limited
of Toronto, has been instrumental in the interpretation of the airborne geophysical data.
To date 276 linear and point-source uranium anomalies have been identified on the Terraquest
airborne geophysical block which was flown in 2006 over about half of the property. Many of
these uranium anomalies are coincident with either foliation-parallel or major cross-cutting
structures/faults. Approximately the top 15% have been categorized as very high priority targets,
characterized by the highest uranium responses coincident with apparent structural controls.
These targets will include 10 targets which are located on or near the Bonny Fault or sub-parallel
faults, which are major ~NW trending faults that cross-cut the local foliated rocks and may have
been conduits for uranium-bearing fluids from the now eroded Athabasca sandstones which once
overlay the area.
The Bonny Fault Property is located within the Precambrian Shield of northeastern Alberta
within the Churchill structural province. It is situated in the Taltson magmatic zone, which to the
south, constitutes the basement of the western Athabasca Basin. Local geology within the
property consists of a wide range of massive to foliated granitoids, metasedimentarys 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.
At Bonny Fault, significant historic Uranium mineralization has been identified at Cherry Lake,
Twin Lakes, Small Lake, Big Bend, Pythagoras Lake, Spider Lake, Holmes Lake and Carrot
Lake; and elsewhere. Two examples of this mineralization are described below:
At the Carrot Lake Uranium showing, which is located near the south end of Andrew Lake, at
least 33 trenches and pits were dug to explore mineralization within basement gneiss, granite and
pegmatite. Anomalous radioactivity appears present within a structurally controlled zone about
1.6 km long. Three samples collected from the North Zone in 1992 ranged from 0.09 to 2.11%
U3O8. The mineralization consists of small veins and pods of pitchblende and thucholite along
fractures.
At the Big Bend Uranium Showing, which is located about 400-m west of Andrew Lake,
Godfrey (1958) collected three samples during the mid-1950’s, as follows:
Sample No.
U3O8 %
JG-58-44-1A
1.03
JG-58-44-1B
3.93
JG-58-44-1C
3.29
*Figures in this chart were produced prior to NI 43-101.
Mo %
0.69
1.03
1.40
Subsequently, four holes were completed in the area to test surface radioactive anomalies, with
the best intersection reported as 0.26% U3O8 across 1 m, within a brecciated band of biotite
schist.
Past exploration of the Bonny Fault and surrounding area, based on the available assessment
records, is considered sporadic. During the mid-1950s to mid-1970s numerous uranium and
radioactive occurrences were found, but for a variety of reasons only marginal follow-up appears
to have been performed. An example of this follow-up exploration was carried out by Rapid
River Resourses Ltd., who in 1968 reported 300 scattered radiometric “spot highs” of uranium in
the order of 5 to 10 times background aligned along two north trending zones, approximately
1,800m long buy 300m wide. The western zone relates to the mineralized area discovered by
Godfrey (1958).
In recent years a better understanding of these styles of uranium occurrences, along with a
comparison of these occurrences to other parts of the world such as that of the Olympic Dam
type in Australia, and rising uranium prices, has elevated the Bonny Fault showings.
In addition to basement hosted Athabasca-type mineralization inferred from the airborne
geophysics, three unique styles of mineralization have been identified on the Bonny Fault
property based on a direct result of ground-based investigations and interpretations of historic
data in various AGS publications.
During 2007, exploration will be focused on these three mineralization styles within the Bonny
Fault property:


Uranium - Molybdenum zones associated with shearing at granite-metasediment contacts.
(AGS OFR 1993-08)
Gold, silver and nickel zones along metasediment / metavolcanic shear contacts. (AGS
OFR 1993-08)

Massive hematite breccia-hosted uranium, gold, iron and REEs, in a setting that may be
analogous to the Australian Olympic Dam style of mineralization. (Metallogenic
Evaluation of Alberta, Olson et al., 1994, AGS OFR 1994-08)
The project is under the direction of Glenn .S. Hartley P. Geol., who is the qualified person for the project
in accordance with the regulations of National Instrument 43-101.
About North American Gem Inc. North American Gem Inc. (TSX-V symbol: NAG) is a junior
exploration Company based in Western Canada. The Company's primary goal is to explore for Uranium,
Molybdenum, Gold, Copper and other base metals. The Company is actively pursuing several
opportunities, including the Louise Lake copper-gold-molybdenum-silver deposit located in British
Columbia, Canada. The Company is also pursuing its uranium projects, consisting of the Whiskey Gap,
Del Bonita, Western Basin, and Bonny Fault projects, all located in Alberta, Canada. In addition the
Company is also pursuing its Mosquito Gulch uranium property located in the North West Territories.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"
Charles Desjardins
President and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical information, historical estimates should not be relied upon, including
statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News
release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the
risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As
a result, actual results may vary materially from those described in the forward-looking statements.