Key Points Regarding News- NAG has received a "Comfort letter
- 415,434 acres of issued Coal Prospecting Permits (CPP) will be given priority sequence in our area of interest
-The Company has filed and fully paid for 786 Coal Disposition applications to date.
- The comfort letter received lists all applications made on behalf of the Company during the period of May 6-9th, 2008
-All of the ground that has been applied for has been done so in accordance will all the rules and regulations set forth by the government of Saskatchewan's permitting office.
-North American Gem Inc. has submitted 786 coal permit applications for 1,491,010.56 acres
-Company will receive from the government of Saskatchewan's permitting office, as the Company continued to apply for permits until June 6th, 2008
-The criteria for targeting the coal permit applications were: initial proximity to the recent coal discovery made by Goldsource, and strategically accumulating favourable cretaceous age coal hosting geological stratigraphy identified by Goldsource,
-aggressively applying for ground that covered favourable cretaceous age coal hosting geological stratigraphy identified with the Adamas Coal Discovery west of the Goldsource discovery
-North American Gem Inc. will be a major land holder in this newly discovered region once all of the permits have been granted.
-The Company plans to first twin the Adamas discovery hole to get a true grade of the quality of the coal at that location