News ReleaseFor those of us who read this BB, there can be no question that the administrators at NAG follow suit.
At least now we have a partial answer to the question concerning the loan.
COMPANY NEWS ALERT
North American Gem Inc. Receives Payment for Loan (ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2009) - North American Gem Inc. (NAG) (TSX VENTURE:NAG) has received a $200,000 (CND) payment from Zone Resources Inc. (TSX-V symbol: ZNR) for the loan previously announced. The complete reimbursement of the loan is expected in the near future.
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. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
North American Gem Inc.
Charles Desjardins
President and Director
604-683-5445
604-687-9631 (FAX)
info@northamericangem.com
www.northamericangem.com
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.