May 30, 2007: North American Gem Inc. (TSX-V symbol: NAG) is pleased to announce the acquisition of the Ranger Lake Uranium claims, totaling 19,280 acres located in the Sault Ste. Marie Mining district of Ontario. The property has excellent road access as it is located to the east of Ranger Lake just north of Highway 556 and west of Highway 129. The Ranger Lake Uranium property is located approximately 60 miles northwest of the historic Elliot Lake Uranium mines.

These Uranium claims were staked as a result of very favorable radiometric anomalies in conjunction with a series of anomalous lake sediment samples. The Lake Sediment Samples were collected as part of a National Geochemical Reconnaissance uranium program released in 1978. This data was released prior to establishment of current standards under National Instrument 43-101, and has not been substantiated by North American Gem Inc, and therefore should not be relied upon. The current May 28, 2007, spot price for uranium provided by the Ux Consulting Company LLC was $125.00 (U.S.) per pound.

Companies continue to return to the historic Elliot Lake Uranium district to take advantage of better market conditions. Pele Mountain Resources recently released a 43-101 compliant technical report confirming an inferred mineral resource of 30.05 million tonnes of U3O8 grading 0.05%, or 1.0 pound per short ton, for a total inferred resource of 33.05 million pounds of uranium.

The terms of the purchase agreement for a 100-per-cent interest in the property require the company to make cash payment of $210,000 and to issue two hundred thousand shares to the vendor, with payments divided over a period of 4 years. The property is subject to a 2-per-cent net smelter return royalty. The company has the right to reduce the royalty to 1 per cent by paying $1-million. This acquisition is subject to exchange approval.

Mr. Garry Clark, P.Geo, will be the Qualified Person on the Ranger Lake Uranium property.

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. The Company is actively pursuing several opportunities, including the Louise Lake copper-gold-molybdenum-silver deposit located in British Columbia, Canada. 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, Canada. In addition the Company is also pursuing its Mosquito Gulch uranium property located in the North West Territories.

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

Charles Desjardins
President and Director

The TSX Venture Exchange has not reviewed and 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.