www.truenorthgems.

com TSX-V: TGX

Delivering a New Source of Gemstones to the World

PDAC Presentation March 2015

Cautionary Statement

The information contained in this document is proprietary information of True North Gems Inc. (the Company). It is the property of the Company and shall not be used, disclosed to others or
reproduced without the express written consent of the Company. If consent is given for reproduction in whole or in part, this notice shall appear in any such reproduction.

This document contains forward-looking information or forward-looking statements within the meaning of certain securities laws, including provisions of the Securities Act (Ontario) and the
provisions for safe harbour under the United States Private Securities Litigation Reform Act of 1995 concerning anticipated developments and events which the Company has a reasonable basis to
believe may occur in the future. These forward-looking statements are based on projections, expectations and estimates as of the date of this document. Forward-looking statements are provided
for the purpose of providing information about management expectations and plans relating to the future. All of the forward-looking statements made in this document are qualified by these
cautionary statements and those made in other filings with the securities regulators of Canada.

Forward-looking statements include, but are not limited to, statements with respect to the future price of rubies and other gemstones, the estimation of mineral resources and reserves, the
realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits,
timing of completion of pre-feasibility studies, success of exploration and development activities, permitting time lines, currency fluctuations, requirements for additional capital, government
regulation of exploration operations, environmental risks, title disputes or claims, completion of acquisitions and their potential impact on the Company and its operations, limitations on insurance
coverage and the timing and possible outcome of pending litigation. In certain cases, forward-looking statements can be identified by the use of words such as plans, expects or does not expect, is
expected, budget, scheduled, estimates, forecasts, intends, anticipates or does not anticipate, or believes, or variations of such words and phrases or statements that certain actions, events or
results may, could, would, might or will be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the exploration and
development of mineral properties; actual results of current exploration activities; current global economic conditions; conclusions of future economic evaluations; changes in project parameters as
plans continue to be refined; environmental risks; future prices of rubies and other gemstones; currency fluctuations; possible variations in ore reserves, resources, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; risks related to joint venture operations; delays in obtaining governmental
approvals or financing or in the completion of development or construction activities; and those factors discussed in the section entitled Risk Factors in the annual information form as required by
the regularity authorities.

Although the Company has attempted to identify important factors (which it believes are reasonable) that could cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Such statements are based on managements best judgment based on facts and assumptions that management considers reasonable, which may prove to be
incorrect, including but not limited to assumptions about: general business and economic conditions; interest rates and foreign exchange rates; market competition; the availability of financing;
changes to tax rates and benefits; the Companys costs of exploration, the ability of the Company to attract and retain skilled employees; and ongoing relations with Company employees and
business partners. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Other than as specifically
required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the
occurrence of unanticipated events, whether as a result of new information, future events or results or otherwise.
 Corporate Snapshot
Capital Structure Historical Trading Price & Volumes
Issued and Outstanding 297,232,049
Warrants 9,313,990
- avg. strike price $0.12
Options 26,450,000
- avg. strike price $0.14
Fully Diluted 332,996,039

Share Price (Feb 27) $0.185

52-week High/Low $0.185/$0.06

Market Cap (Feb 27) $54.9 million

Owned by Board/Mgmt 8 million (2.7%)

Average Corundum
Aappaluttoq Probable Open Corundum (ct
Other Insider(s) 36.9 million (12.4%) Pit Mine Reserves
Tonnes Grade (grams
million)
(g/T) million)

Mining Reserve 166,983 365 1.2 61

Mill Feed after dilution and

189768 292 1.1 55
mining loss

* The Mineral Resource includes Ruby and Pink Sapphires which are the chrome saturated
versions of corundum. All corundum containing material within the open pit as designed,
intended for mill feed. Resulting mill feed including waste dilution due to mining method of
Pink Sapphire Ruby an estimated 19 % and mining loss of 4.5 %
About Us: Management Team
Nicholas Houghton, President & CEO - Accredited Gemologist with 30+ years of international experience in the
jewellery manufacturing and gemstone exploration industry. Member of Ethics Committee for the International
Coloured Gemstone Association.

Bent Olsvig Jensen, Managing Director Greenland - 15+ years experience practicing management and
negotiations with both public and private institutions in Greenland. Vast experience in cooperation with the
Greenlandic authorities at all levels, and essential knowledge and insight on operations management in
Greenland.

Jens B. Frederiksen, VP, Operations Greenland over 23 years experience in the police force and has more
than 18 years experience in practicing management in puplic institutions and political organisation. He has
been member of the Parliament of Greenland for the last 9 years. He has in that period been Vice Premier and
Minister for Housing, Infrastructure and Transport in four years. Frederiksen has vast experience in security,
logistic and personell management. He has essential knowlegde and insight in societal matters in Greenland
and cooperation in international affairs.

Ronald Hall, VP Engineering - 35+ years of diverse industry experience in management, operation, evaluation,
and design of global mining projects. Former Partner and VP of Mining at Wardrop Engineering Inc. involved in
large-scale expansion and growth within the companys Canadian operations, and successful opening of
international branches in China, Chile, Brazil, Hong Kong and Australia.

Jacqueline Tucker, CFO - Qualified Chartered Accountant with 30+ years of public practice experience as an
auditor and advisor to public companies. Member of the Alberta, Ontario, and British Columbia Institute of
Chartered Accountants.

Andrew Fagan, Project Manager - Diamond and gemstone geological consultant with B.Sc. (Hons) and Master of
Science degrees in gemstone geology. Fellow of the Geological Society of London and Chartered Geologist
(C.Geol.).
About Us: Board of Directors
Robert Boyd, Director, Chairman - Mining executive with more than 35 years experience in exploration,
executive-level management, corporate finance, and corporate governance.

Nicholas Houghton, Director, President & CEO - Accredited Gemologist with 30+ years of international
experience in the jewellery manufacturing and gemstone exploration industry. Member of Ethics Committee for
the International Coloured Gemstone Association.

Raymond N. Simpson - 20+ years of experience in the diamond industry. Currently an Executive Vice-President
of Dominion Diamond Corp., formerly known as Harry Winston Diamond Corporation. Extensive experience in a
variety of roles ranging from mine resource evaluation to supply/demand forecasting and consumer marketing.

Andrew Lee Smith, Director - Professional Geologist with 25+ years of experience successfully exploring,
developing and operating North American base and precious metals mining and gem projects.

John Ryder, Director - 30+ years of experience in worldwide mineral exploration.

William Anderson, Director - Geologist and retired mining executive with over 40 years experience in
exploration and operations.

David Parsons, Director - Vice-President, Insurance at Goldcorp Inc. responsible for corporate risk, including
mining operations loss control, business continuity planning and insurance.

Peter Friedmann, Director - Broad spectrum of knowledge in both the private and public business sectors, and is
currently a principal of a venture capital company investing in technology driven companies.
Aappaluttoq Ruby Project
Location: Aappaluttoq, Greenland (200m elevation), 150 km south of the capital of Nuuk, 20 km southeast of
the community of Qeqertarsuatsiaat.

Mineralization: Chrome Rich Corundum (Ruby and Pink Sapphire rough form a high percentage of the
corundum resource)

Corundum Deposit Type: Hard Rock

Exceptionally high grade, simple mining methods

Predictability of grade and geological expansion

Only 43-101 compliant deposit in the world

Aappaluttoq Ruby
Extraction Methods: Crushing, Optical Sorting and DMS Project

Corundum is hard host minerals are soft

Upgrading methods include hand cob, optical sorting,

attrition milling and caustic wash

Finished Product: Consistency in quality, colour, calibration and long term supply

Sales of rough and polished goods

A long term source of clean ruby that the market needs

Aappaluttoq Mine

Current 9-Year Pit

(Pink area in opposite image) Potential exploration upside delineated from
existing drilling
Corundum Grade Primary Pit

Average Contained Contained

Category Volume Tonnage Average Grade
Grade Corundum Corundum
m3 Tonnes Grams/Tonne Carats/Tonne Grams million Carats million
Indicated 59,110 189,150 313.33 1,566.65 59.27 296.33
Inferred 24,110 77,160 283.46 1,417.28 21.87 109.35
Financial Projections

Aappaluttoq Ruby Project Production results Units

Tonne processed 190 Tonnes (Thousands)
Waste rock mined 2,969 Tonnes (Thousands)
Stripping ratio 16 N/A
Mine operational years (starting 2015) 9 Years
Total corundum recovered from mine site 52.7 Grams Millions
Rough gemstones recovered from operations 17.5 Grams Millions
Average Ruby and Pink Sapphire Price in US$/g1 $33 US$/gram
Estimated revenue $573 US$ Million

Economic scenario results Project Economics Units

All in cash cost per equivalent rough ct.
$3 US$ per ct.
recovered2
Total Operating costs $94 US$ Million
Total Project Capital cost (Initial and sustaining)3 $25 US$ Million
Total Sustaining Capital cost $5 US$ Million
Total Pre-tax cash flow from operations $452 US$ Million
Total Post tax cash flow $282 US$ Million
Pre-tax NPV at 8% real discount rate $275 US$ Million
Post-tax NPV at 8% real discount rate $171 US$ Million
Low Environmental Impact

Present

After nine (9) years of operation

After closure of the mine

True North Gemstones
Rough and Polished
Joint Venture Agreement
In August 2013, True North announced the
signing of an Option and related agreements with
LNS Greenland A/S (LNSG) allowing them to earn
20% of Class A shares of True North Gems
Greenland A/S (TNGG) through a $23 million US
financing package for infrastructure and
investment in the project.

In September 2014 LNSG increased their

possible earn in to 27% of the issued and
outstanding Class A shares of TNGG by
increasing their financing to US$31 million US for
infrastructure financing and investment.

The five individual agreements lay out the

strategic partnership structure for the future
construction and operation of the Aappaluttoq
Ruby Project
Exploitation Licence Application Process

Submission of draft EIA/SIA & Technical

Documents

Company Information Meetings

Formal Public Hearings

Submission of White Book, final EIA/SIA &

Technical Documents

Royalty Negotiation

Approval by Government & Granting of

Exploitation Licence

IBA Negotiation Completed

Supplemental Construction Permits Granted

Record Breaking Ruby Prices
April 12, 2005 Christies New York sale, an 8.01 carat oval-cut
Burmese ruby sold for $2,200,000, setting a world auction record
price for a ruby at $274,656 per carat
$700,000

February 15, 2006 Lawrence Graf paid a record $425,000 per $600,000
carat for an 8.62ct Burmese ruby at Christies St. Moritz auction
$500,000

2007 2010 due to depressed market conditions and ensuing $400,000

lack of material in 2008, there were no major ruby sales, however

by 2010 prices began to climb to record levels $300,000

$200,000

December 13, 2011 Christies New York auction, in which an $100,000

8.24ct ruby and diamond Van Cleef & Arpels ring belonging to Liz
Taylor sold for $4,226,500, fetching a record price of $512,925 per
carat 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

May 14, 2012 Christies International in Geneva, a new record

auction was set with the sale of a ruby and diamond ring from the
collection of Brazilian-born philanthropist Lily Safra for $6,600,000.
Also sold in the auction was a ruby and diamond Camelia flower
brooch by JAR for $4,270,000

2012 Ruby prices continue to climb with a $6.04 Burmese ruby

by Etcetera Limited selling for $551,000 per carat, or $3.3 million

In November 2014, the Graff ruby returned to the Christies Geneva

jewellery auction, this time selling for $997,700 USD per carat, or
$8.6 million. The sale of the Graff ruby has set a record not just for
a ruby, but for a ruby price per carat.
Industry Highlights
Global ruby market size is
approximately US$2.1 billion*

Global pink sapphire market is

approximately US$58.8 million*

Global jewellery sales are poised to

grow at 4.6% year-on-year to touch
US$230 billion in 2015

India and China together will emerge

as a market equivalent to US market
by 2015

With the collective action, the

industry has the potential to grow to
US$280 billion by 2015 at a CAGR of
6.7%
*Source: MVI Marketing
Sales and Marketing

All manufacturers look for consistency in

both quality and availability for their
product. We will be mining from a host
deposit and can guarantee all clientele,
both for rough and polished, these two
highly important factors.

Who needs the rubies?

High-end watches, micro pave jewellery,

large chain stores, and online sellers all
need guaranteed supply.

True North Gems will be the only ruby and

pink sapphire producer that can
consistently guarantee this. Jewellery - Roberto Demeglio
Looking
Forward
Construction of the Mine site
On September 23, 2014, True North and its joint venture partner,
LNS Greenland, initiated mobilization of equipment and construction
at the Aappaluttoq Ruby and Pink Sapphire project

Key construction achieved in 2014:

transportation & installation of pre-fabricated loading dock

enabling mobilization of equipment to site
construction of a 5 km trail from the outer port to the main
campsite
Commencement of ongoing blasting in order to level the ground
for the permanent camp, and installation of water line, sewer line
and electricity for the camp

Key construction objectives for 2015:

set up and establishment of the living quarters and

accommodation for construction crews camp facilities will remain
for future operations
continuation and completion of all infrastructure which will
enable production to commence Q3 2015.
Construction of the Mine site
Keys to Unlock Potential

2015 Commencement of production

Sale of inventory already on-hand

Marketing and cash-flow from initiation

with pre-ordered polished stones

Working jointly with the Greenland

Government to bring worldwide
awareness to the new source of certified
rubies and pink sapphires
Potential Future Growth
Expansion of production through
familiarity of the deposit will be a
natural lead to increase of
profitability
Aappaluttoq
Mine Site

Secondary geological expansion

deposits have already been
recognized by the Company and
exploration has been initiated

Development of future targets will

Kigutilik
Expansion
Siggartartulik
Expansion
follow as market acceptance
Target Target
confirms the need to supply more
material and will be financed
Recognized Occurrences:
- Aappaluttoq Mine Site through the future positive cash-flow
- Siggartartulik & Kigutilik Expansion Targets
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