North American Gem Finalizes the Acquisition of Blue Gem Coal Lease

North American Gem Inc. (TSX VENTURE:NAG) reported that it has finalized the acquisition of an additional 650 acre multi-seam coal lease in Knox County, Kentucky which will be known as the Gilliam Hill Lease.

The press release is quoted as saying:

This newly acquired lease is immediately adjacent to the North American Gem #2 Mine and also contains the readily marketable Blue Gem coal throughout the entire lease area with an average seam thickness of 2 feet. In addition to the Blue Gem seam, the Jellico and Dean seams have been confirmed on the lease as well.

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