Gold and GemStone Mining Inc. Enters into Collaboration Agreement with Tell Mining Group for the Exploration and Development of Mineral Properties in Africa

Effective February 8, 2013, Gold and GemStone Mining Inc. entered into a collaboration agreement with Tell Mining Group for the exploration and development of mineral properties in Africa. Tell Mining is an active owner and developer of gold mining concessions in Ghana. Each Concession constitutes a separate mining project.

The agreement contemplates the creation of a joint venture company in Ghana for which Gold and GemStone Mining and Tell Mining Group shall each hold 50% of the issued and outstanding ordinary shares of the JV Company. Gold and GemStone Mining is required to deposit $10,000 cash with Tell Mining prior to commencement of mining along with 15% of net profits once in production, paid quarterly per Concession. The term of the agreement is 5 years.