True North Gems Announces Consolidation Effective Date

Vancouver – October 19, 2018 – True North Gems Inc. (TGX: TSX-V) (“True North” “TGX” or the “Company”) announces that effective Oct. 22, 2018, True North Gems Inc. will consolidate its common shares on the basis of one new post-consolidation common share for every 10 pre-consolidation common shares. Effective at the opening of trade on Monday, Oct. 22, 2018, common shares of the company will commence trading on the TSX Venture Exchange on a consolidated basis. There is no change in the Company’s name nor its trading symbol.

As a result of the consolidation, the company's currently outstanding 307,735,383 common shares will be reduced to approximately 30,773,538 common shares. No fractional shares will be issued. Any fractions of a share will be rounded down to the nearest whole number of common shares. The company's name and trading symbol will remain unchanged and it will not be completing any other restructuring in connection with the consolidation. The consolidation was approved by the shareholders of the Company on January 29, 2018.

Registered shareholders will be required to exchange their share certificates representing pre-consolidation common shares for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter, as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to the company's transfer agent, Computershare Trust Company of Canada. The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-consolidation common shares of the company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.

Glen Macdonald, Director On behalf of the Board of Directors of True North Gems Inc.

For further information, please see:

www.truenorthgems.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.