True North Gems Completes Sale of Fyre Lake Properties

True North Gems Completes Sale of Fyre Lake Properties 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/28/13 -- True North
Gems Inc. (TSX VENTURE:TGX) ("True North" or the "Company") announces
it has entered into an agreement to sell its 100% interest in 43
mineral claims located in the Finlayson District of the Yukon
Territories to Pacific Ridge Exploration Ltd. The claims are located
in proximity to Pacific Ridge's Fyre Lake Kona copper-gold-cobalt
massive sulphide deposit.  
Under the terms of the agreement Pacific Ridge has the option to earn
a 100% interest in the claims with an initial payment to True North
of $15,000 plus 250,000 Pacific Ridge shares on closing of the
transaction, and an additional $10,000 and 150,000 shares on or
before January 31, 2014. The agreement is not subject to any
underlying royalty interests. 
True North President and CEO Nick Houghton said: "This transaction is
consistent with our strategy to divest of non-core assets and focus
on development of the Aappaluttoq ruby project in Greenland." 
The transaction is subject to TSX Venture Exchange approval. 
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,
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
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. 
True North Gems Inc.
Nicholas Houghton
President and CEO
604-687-8055 or 1-800-399-8055 
True North Gems Inc.
Meghan Brown
Corporate Communications
604-687-8055 or 1-800-399-8055
604-899-1240 (FAX)
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