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File: TGX Media Release - Consolidation - Dec 14 2018.docx


True North Gems Announces Intention to Consolidate Shares

Vancouver - December 14, 2018 - True North Gems Inc. (TGX: TSX-V) ("True North" "TGX" or the "Company") announces it i
--->ntends to seek the necessary approvals to consolidate its common shares and continue its domicile from the Yukon to Br
--->itish Columbia.
The Company has called an annual and special meeting of its shareholders for Monday, January 21, 2019, at 8 a.m. Vanco
--->uver time. The meeting will be held at the Company's head office at 700-1055 West Georgia Street. The Company's shareh
--->olders will be asked to consider and approve a share consolidation  on the basis of one new common share of the Compan
--->y for up to every ten existing common shares of the Company, or such lower number of existing shares as may be determi
--->ned by the board of directors of TGX and as may be required to obtain approval of the consolidation  from the TSX Vent
--->ure Exchange.
The principal effects of thec onsolidation  will be that the number of shares of the Company issued and outstanding wi
--->ll be reduced from 35,773,541 existing shares as of the date hereof to approximately 3,577,354 new shares, assuming a 
--->consolidation  ratio of one new share for ten old shares.
The consolidation  of capital and continuance to British Columbia are subject to approval by the TSX Venture Exchange.
---> The Company does not intend to change its name or its current trading symbol in connection with this proposed share c
--->onsolidation . The board of directors believes that the proposed share consolidation  will better position the Company
---> to raise capital it requires to finance continuing business activities and to seek additional opportunities.  The con
--->tinuance will facilitate the administration of the Company's corporate records as the Company's head office is in Vanc
--->ouver, British Columbia.
Glen Macdonald
Director
On behalf of the Board of Directors of True North Gems Inc.

For further information, contact:
 
Email: speccom@truenorthgems.com
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 stat
--->ements") within the meaning of applicable securities legislation, which are made as of the date of this document or th
--->e document(s) referred to herein. Statements that express predictions, expectations, beliefs, plans, projections, obje
--->ctives, 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 achi
--->eved, 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 am
--->ount 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 ra
--->tes; and mine life. The forward-looking statements are made based upon certain assumptions which, if untrue, could cau
--->se the actual results, performances or achievements of the Company to be materially different from future results, per
--->formances or achievements expressed or implied by the forward-looking statements. These assumptions include, without l
--->imitation: 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 m
--->ining operation; financing structure and costs; anticipated mining losses and dilution; gemstone recovery rates; reaso
--->nable 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 achievem
--->ents to differ materially from those in the forward-looking statements. These include, without limitation: price volat
--->ility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recover
--->ies, mining operational and development risks, regulatory restrictions (including environmental regulatory restriction
--->s and liability), activities by governmental authorities (including changes in taxation), currency fluctuations, the s
--->peculative 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 Co
--->mpany expressly disclaims any intention or obligation to update or revise any forward-looking statements, except as ot
--->herwise required by applicable securities legislation.