November 14, 2007: North American Gem Inc. (TSX-V symbol: NAG) is pleased to announce that the permit application for the proposed 2008 diamond drilling program on North American Gem's Louise Lake Project has been submitted. The road-accessible Louise Lake property is located 35 kilometers west of Smithers, British Columbia, Canada, a full-service community with excellent access to highway, rail and electrical power infrastructure.

The proposed 2008 program will consist of two phases of diamond drilling. The first phase, to commence in approximately mid-January, will target potential northward down-dip extension of the Main Zone, as well as the interpreted portion of the deposit underlying the flat-lying "Terminator" fault. Results from Hole LL-07-15, collared northwest of the Main Zone in 2007 revealed low-grade mineralization beneath the "Terminator" having a similar fabric to the Main Zone. This represents the first intercept of sub-Terminator mineralization to date, suggesting the underlying "fixed" portion of the deposit may occur northwest of the Main Zone.

The second phase, to commence by approximately mid-February, will consist of infill drilling towards further upgrading of the resource base to the Indicated category. It will also target the north-eastern portion of the Main Zone near areas of higher grade gold intercepts returned in 2007, including a 26.1-metre intercept grading 0.769 g/t gold and 0.477% copper (see NAG news release dated May 9, 2007). Phase 1 will consist of roughly 2,500 meters of drilling in 7 holes; Phase 2 will consist of about 6,100 meters of drilling in 20 holes. Both phases are to be completed by April, 2008.

In other news, North American Gem is expecting results from a separate metallurgical study, to determine other environmentally sound treatment methods of Main Zone mineralization. Previously, independently retained consultants and related experts in the field of base metal refining had identified numerous extraction techniques potentially employable as alternatives to standard smelting techniques for concentrate from North American Gem's Louise Lake deposit (Please refer to December 5, 2006 release at www.northamericangem.com).

Table 1 lists the updated resource estimates per category:

Table 1: 2007 updated SRK classified mineral resources, Main Zone, Louise Lake Project

Mineral Resources*	Tonnes	Cu (%)	Mo (%)	Au (g/t)	Ag (g/t)
======================	=========	=======	========	=========	=========
Indicated	26,000,000	0.231	0.008	0.22	1.01
Inferred	125,000,000	0.239	0.009	0.23	0.99

*All resources quoted at 0.15% copper cut-off

The 2007 estimate uses an actual copper cut-off value of 0.15%, rather than the "copper equivalent" (CuEq) cutoff value of 0.25% used in the 2006 estimate. Comparison of the two estimates using the 0.25% CuEq cutoff instead, with identical metal prices, indicates that the 2007 estimated tonnage has been increased by 8%, with very similar metal grades. Grades of the Indicated Resource category, which has been increased to 26,000,000 tonnes from 6,000,000 tonnes, are also substantially increased from 2006 values.

The Main Zone hosts an unusual mineral assemblage, with copper occurring as an equal mixture of enargite and chalcopyrite. The 2004 through 2006 programs extended the known dimensions of the east-west striking, moderately north-dipping tabular Main Zone both to the west and east, as well as down-dip to the north. By 2006, the Main Zone was known to be at least 970 meters long, up to 170 meters wide, and extending to a depth of 250 - 270 meters, where it is abruptly truncated by the flat-lying "Terminator" fault.

This News Release was reviewed and approved by Carl Schulze, BSc, PGeo, Qualified Person for the project, in accordance with regulations under National Instrument 43-101. All sample analysis was done by ALS Chemex of North Vancouver, British Columbia, Canada. The diamond drilling program was conducted by Britton Brothers Diamond Drilling of Smithers, British Columbia.

About North American Gem Inc. North American Gem Inc. (TSX-V symbol: NAG) is a junior exploration Company based in Western Canada. The Company's primary goal is to explore for Uranium, Molybdenum, Gold, Copper and other base metals in Canada. The Company is actively pursuing several opportunities, including the Louise Lake copper-gold-molybdenum-silver project located in British Columbia. The Company is also pursuing its uranium projects, consisting of the Whiskey Gap, Del Bonita, Western Basin, and Bonny Fault projects, all located in Alberta. In addition the Company is also pursuing its Mosquito Gulch uranium property located in the North West Territories and the Ranger Lake Uranium property located in Ontario.

On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"

Charles Desjardins
President and Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.