CORRECTION FROM SOURCE: True North Gems Appoints Executive

CORRECTION FROM SOURCE: True North Gems Appoints Executive Vice
President 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/18/12 -- A
Correction from Source is issued with respect to the release issued
earlier today at 9:30 AM ET. Changes have been applied to the first
paragraph, and the corrected version follows. 
True North Gems Inc. (the "Company") (TSX VENTURE:TGX) is pleased to
announce the appointment of Mr. W. Graham Nicholls as Executive Vice
President. Reporting directly to the President and CEO, Mr. Nicholls
will join a management team focused on finalizing the exploitation
permit and will assist with further development regarding the
branding, marketing, security and engagement protocols to ensure the
successful commissioning and operation of the Aappaluttoq Ruby Mine
in SW Greenland. 
Mr. Nicholls has over 25 years of management experience in the
resource sector. He is a specialist in strategic planning, gemstone
marketing, supply chain management, aboriginal and community
relations, and external affairs. He spent 11 years working at BHP
Billiton Diamonds where he occupied several senior roles including
Vice-President of External Affairs and President of Point Lake
Marketing Inc. In the latter role he created, developed and operated
BHP Billiton's CanadaMark(TM) program for tracking branded polished
diamonds from mine to market. He successfully led the implementation
of the $687 million acquisition by BHP Billiton of DiaMet Minerals in
2001. He was a key member of the management team that built,
commissioned and operated the Ekati(TM) Mine in the Northwest
Territories, Canada's first diamond mine.  
Prior to working in the public mining sector, Mr. Nicholls was the
Deputy Minister and Director of Policy and Economic Analysis for the
Department of Energy, Mines and Petroleum Resources in the Government
of the Northwest Territories. His appointment with the Company brings
a wealth of experience in government affairs, aboriginal engagement
and project development onto the current team. Graham is a graduate
of the University of British Columbia with a B.A. in Political
Science, and a M.A. in Community and Regional Planning. 
"Having held senior positions at BHP Billiton and in the Territorial
Government, Mr. Nicholls' understanding and experience within the
mining sector is wide-ranging," stated Nicholas Houghton, President
and CEO. "His role in the Company will be multi-faceted, where he can
utilize his expertise to benefit both our current team-members and
increase shareholder value as we complete the permitting of
Aappaluttoq and move towards production and sales." 
True North Gems Inc. is listed on the TSX Venture Exchange and is
engaged in the exploration and development of Greenlandic and North
American coloured gemstone prospects. The Company is a pioneer in
colored gemstone exploration and, currently in Greenland, has the
rights to earn 100% interest in the Aappaluttoq ruby and pink
sapphire project, holds a 100% interest in the Tsa da Glisza emerald
property, Yukon, and the Beluga sapphire property located on Baffin
Island, Nunavut. True North's prime focus remains the commercial
advancement of the Aappaluttoq Ruby Project in Greenland.  
This document contains "forward-looking information" and
"forward-looking statements" (together, "forward-looking statements")
within the meaning of applicable securities legislation, which are
made as of the date of this document or the document(s) referred to
herein. Statements that express predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"intends", "strategy", "goals", "objectives" or variations thereof or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements.
Forward-looking statements include, without limitation, statements
with respect to: the amount of mineral reserves and mineral
resources; the amount of future production over any period; net
present value and internal rates of return of the proposed mining
operation; capital costs; operating costs; strip ratios and mining
rates; and mine life. The forward-looking statements are made based
upon certain assumptions which, if untrue, could cause the actual
results, performances or achievements of the Company to be materially
different from future results, performances or achievements expressed
or implied by the forward-looking statements. 
These assumptions include, without limitation: the price of gemstone
products produced; anticipated costs; the presence of and continuity
of gemstones at modeled grades and values; the capacities of various
machinery and equipment; the availability of personnel, machinery and
equipment at estimated prices; exchange rates; appropriate discount
rates; tax rates applicable to the proposed mining operation;
financing structure and costs; anticipated mining losses and
dilution; gemstone recovery rates; reasonable contingency
requirements; and receipt of regulatory approvals on acceptable
terms. By their very nature, forward-looking statements involve
inherent risks and uncertainties that could cause actual results,
performances or achievements to differ materially from those in the
forward-looking statements. These include, without limitation: price
volatility, discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical recoveries, mining
operational and development risks, regulatory restrictions (including
environmental regulatory restrictions and liability), activities by
governmental authorities (including changes in taxation), currency
fluctuations, the speculative nature of gemstone exploration, the
global economic climate, dilution, share price volatility,
competition, loss of key employees; additional funding requirements
and defective title to mineral claims or property). This list is not
exhaustive. See also, for example, the risks disclosed in the
Company's other disclosure documents filed at www.sedar.com,
including, without limitation, those disclosed in the Company's
management's discussion & analysis. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements, except as otherwise required by applicable securities
legislation. 
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. 
Contacts:
True North Gems Inc.
Nicholas Houghton
President and CEO
604-687-8055 or 1-800-399-8055 
True North Gems Inc.
Ward Kondas
Corporate Communications
604-687-8055 or 1-800-399-8055
604-899-1240 (FAX)
info@truenorthgems.com
www.truenorthgems.com