TGX True North Gems Inc

True North Gems Inc. (TSX VENTURE:TGX) ("True North" or the "Company") is
pleased to announce the partial closing of the second tranche of its previously
announced financing, for an amount of $2,441.964.39 through the sale of
27,132,938 Class A shares ("Shares"). The remainder of the second tranche is
expected to close by the end of June 2013. As part of the closing, the Company
also paid a commission of $122,098.22 and issued 813,989 broker warrants to
Casimir Capital LP ("Casimir"), with each broker warrant exercisable for 36
months for an additional Share at a price of $0.09 per share. The securities
issued under the closing will be subject to a hold period and may not be traded
until October 14, 2013, except as permitted by Canadian securities legislation
and the TSX Venture Exchange.


The full completion of the second tranche closing will result in Lenomi Holdings
Limited ("Lenomi", a private investment company controlled by Joseph Gutnick)
subscribing for an aggregate of 47,701,948 Shares for $0.09 per Share for gross
aggregate proceeds of $4,293,175 under the second tranche. Following closing of
the second tranche, Lenomi will hold approximately 19.9% of True North's issued
and outstanding Shares.


Yesterday, at the Company's AGM the Company's shareholders approved the
previously announced third tranche of the financing, which is expected to take
place on or before August 1, 2013. Following completion of the remainder of the
second tranche and of the third tranche, Lenomi will hold approximately 45% of
True North's issued and outstanding Shares.


The Company intends to use the net proceeds of the financing to advance the
development of the Company's Aappaluttoq Ruby Project in Greenland as well as
general working capital.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
True North Gems Inc.
Nicholas Houghton
President and CEO
604-687-8055 or 1-800-399-8055
info@truenorthgems.com
www.truenorthgems.com

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