True North Gems obtains renewal for Greenland ruby exploration license

Vancouver, June 24, 2008: True North Gems (TGX: TSX-V) is pleased to announce that the Bureau of Mines and Petroleum (BMP) and the Joint Committee on Mineral Resources for Greenland and Denmark (Joint Committee) has approved True North Gems application for renewal of the 110 km2 Fiskenaesset exploration license which is contiguous with and adjacent to the Company's 713 km2 Qaqqatsiaq ruby exploration license acquired in December 2007. Both exploration licenses are located on the southwest coast of Greenland.

The formal ratification of the Fiskenaesset license renewal application, valid for a further period of five years from January 1, 2008 through December 31, 2012, maintains True North?s total land position of 823 km2. The Fiskenaesset license was originally acquired by Brereton Engineering & Developments Ltd. (Brereton) in March, 2003. True North optioned the property in April, 2004 and the obligations to Brereton under the terms of this option agreement remain in effect.

As part of the license renewal, BMP and the Joint Committee have also approved the formal transfer of the Fiskenaesset license from Brereton to True North.

The Fiskenaesset license consists of three separate property blocks (designated sub-areas) which cover more than thirty known ruby occurrences, as well as extensive areas of prospective geology for the occurrence of ruby and pink sapphire mineralization. Exploration within the Fiskenaesset license has been advanced by True North Gems since 2004 and detailed assessment of the high grade Aappaluttoq prospect was initiated by True North Gems during 2006 and 2007. The 2008 exploration program has the objective of acquiring sufficient information to advance Aappaluttoq to the pre-feasibility stage.

The planning and execution of the ruby exploration and quality control programs at the Fiskenaesset and Qaqqatsiaq Ruby projects are under the supervision of Greg Davison, True North Gems Vice President Exploration. Mr. Davison is a Qualified Person as defined by National Instrument 43-101. Wardrop Engineering, an internationally recognized engineering firm, has been engaged as the Independent Qualified Person to provide the Preliminary Economic Assessment of the Aappaluttoq ruby occurrence on the Fiskenaesset ruby property.