VANCOUVER, B.C., Nov. 06, 2003 (PRIMEZONE) -- True North Gems (Other OTC:TNGMF) (TSX Venture Exchange:TGX:) is pleased to announce that a 2.39 carat emerald has been faceted from a sample collected underground during the 2003 exploration program at the Company's 100 percent owned Regal Ridge emerald project located in the Canadian Yukon. This is the largest emerald faceted from a Canadian source.
The 2.39-carat emerald was cut from a 3.31-gram (16.55 carat) rough emerald. It is classified as vslbG 5/5 stone and ranks as a "top value" stone according to Gemological Institute of America's Emerald Color Value designation.
"The 2.39 carat gemstone offers evidence that the quality and quantity of gem emeralds can improve as we continue exploration underground," says Bernie Gaboury, President and COO of True North Gems. "This also validates our exploration model for predicting the location of gem quality emerald deposits."
In addition, this is the first Canadian emerald gemstone to be laser inscribed to provide a permanent marker that authenticates its origin and identification. Though laser technology is currently in use to certify and trademark Canadian diamonds, the application of innovative cold laser technology is required to successfully perform the same function on emerald.
Full disclosure of the emerald's gemological description and treatment, along with images of the polished 2.39-carat emerald and the permanent identification marker are available on the True North Gems' website at www.truenorthgems.com.
True North Gems is a public company, listed on the TSX-Venture Exchange and is engaged in the exploration and development of North American gemstone deposits. The company is a pioneer in Canadian gemstone exploration and owns a 100-percent interest in the Yukon-based Regal Ridge property and in the Ontario-based Ghost Lake property. Regal Ridge and Ghost Lake host the only two confirmed emerald deposits in Canada.
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among others things, statements about expectations of future revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to further develop its business, the company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the company's products and services, competitive factors, new products and technological changes, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's amended registration statement on Form SB-2 filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved