True North Gems Advances Aappaluttoq Permitting With Terms of Reference for Socioeconomic Impact Assessment
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/05/11 -- True North Gems (TSX VENTURE: TGX) is pleased to report that it has now completed and filed the Draft Terms of Reference for the socioeconomic impact assessment (SIA) of the proposed mine at the Company's Aappaluttoq Ruby Project in Greenland. The Terms of Reference are the first formal filing made as part of the Company's exploitation (mining) permit application, and follow the stakeholder workshop meetings completed in February.
The draft Terms of Reference are available in Greenlandic, Danish and English on the Company's web site.
The analysis phase of the SIA is underway by Danish-Greenlandic consultants Grontmij-Carl Bro. The draft SIA is expected to be completed in Q2-2011, with public hearings held in Greenland thereafter.
Nicholas Houghton, CEO and President of True North Gems stated, 'We are following up on the productive dialogue from February with careful consideration of the needs and concerns of the people of Greenland. The socio economic studies cover not only employment and impact on business life, but also analysis of the traditional productive systems, culture and identity aspects of the local community. Obtaining an exploitation (mining) permit for the Aappaluttoq project is our principal goal and is on schedule.'
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 coloured 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.
The Company relies on litigation protection for 'forward-looking' statements. The Aappaluttoq project does not yet have a mineral resource or reserve and accordingly no economic evaluation has yet been done. Accordingly, investors are cautioned that, although management is proceeding with an exploitation (mining) permit application, the Aappaluttoq project may never achieve successful commercial production.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
Contacts:
True North Gems Inc.
Nicholas Houghton
President and CEO
604-687-8055 or 1-800-399-8055
True North Gems Inc.
Ken Shortt
Investor Relations
604-687-8055 or 1-800-399-8055
info@truenorthgems.com
www.truenorthgems.com