True North Gems Annouces Stock Option Grant

True North Gems Annouces Stock Option Grant

Vancouver – October 2, 2018 – True North Gems Inc. (TGX: TSX-V) (“True North” “TGX” or the “Company”)

announces that the Company has, subject to regulatory approval, granted an aggregate of 3,000,000 options exercisable

to acquire 3,000,000 post-consolidated shares at an exercise price of $0.05 for up to 3 years to its officers, directors and

consultants.

Andrew Lee Smith, Interim CEO

On behalf of the Board of Directors of True North Gems Inc.

For further information, contact:

Email: [email protected]

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.

This document contains “forward-looking information” and “forward-looking statements” (together, “forward-looking

statements”) within the meaning of applicable securities legislation, which are made as of the date of this document or

the document(s) referred to herein. Statements that express predictions, expectations, beliefs, plans, projections,

objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”,

“anticipates”, “plans”, “projects”, “estimates”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or

stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved,

or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-

looking statements. Forward-looking statements include, without limitation, statements with respect to: the amount

of mineral reserves and mineral resources; the amount of future production over any period; net present value and

internal rates of return of the proposed mining operation; capital costs; operating costs; strip ratios and mining rates;

and mine life. The forward-looking statements are made based upon certain assumptions which, if untrue, could cause

the actual results, performances or achievements of the Company to be materially different from future results,

performances or achievements expressed or implied by the forward-looking statements. These assumptions include,

without limitation: the price of gemstone products produced; anticipated costs; the presence of and continuity of

gemstones at modeled grades and values; the capacities of various machinery and equipment; the availability of

personnel, machinery and equipment at estimated prices; exchange rates; appropriate discount rates; tax rates

applicable to the proposed mining operation; financing structure and costs; anticipated mining losses and dilution;

gemstone recovery rates; reasonable contingency requirements; and receipt of regulatory approvals on acceptable terms.

By their very nature, forward-looking statements involve inherent risks and uncertainties that could cause actual

results, performances or achievements to differ materially from those in the forward-looking statements. These include,

without limitation: price volatility, discrepancies between actual and estimated production, mineral reserves and

resources and metallurgical recoveries, mining operational and development risks, regulatory restrictions (including

environmental regulatory restrictions and liability), activities by governmental authorities (including changes in

taxation), currency fluctuations, the speculative nature of gemstone exploration, the global economic climate, dilution,

share price volatility, competition, loss of key employees; additional funding requirements and defective title to mineral

claims or property]. This list is not exhaustive. See also, for example, the risks disclosed in the Company’s other disclosure

documents filed at www.sedar.com, including, without limitation, those disclosed in the Company’s management’s

discussion & analysis. The Company expressly disclaims any intention or obligation to update or revise any forward-

looking statements, except as otherwise required by applicable securities legislation.