North American Gold (fka NAU)

[Ed Monton]

North American Gold Acquires Two New Exploration
Properties in Sweden

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 3, 2004) - As
part of its on-going exploration activities in Scandinavia, North
American Gold (NAU - TSXV) is pleased to announce the acquisition
of two early-stage properties in the emerging GoldLine Trend of
northern Sweden. Both properties are owned 100% with no
underlying royalties.

The Skarven property covers 2012 hectares over a copper-gold
target previously explored by the Swedish Geological Survey
("SGU") and Boliden. Assays ranging from background up to 1.5% Cu
and 8.8 g/t Au from boulder and bedrock samples have been
reported. Skarven is located 18 km southwest of Barsele, and 10
km west of Dragon Mining's Svartliden gold mine development
project.

The Nasvattnet property covers 969 hectares covering an area of
copper-zinc-silver bearing boulders in glacial till. The SGU has
reported assays ranging from background up to 1.5% Cu, 9% Zn, and
500 g/t Ag. No bedrock source has been identified for the
boulders. Nasvattnet is located 35 km southwest of Barsele.

Commenting on the acquisitions, Buck Morrow, president of North
American Gold, said, "Acquiring these two prospects for minimal
staking costs complements our existing exploration projects at
Barsele and Norra. We are compiling available data and initiating
field reconnaissance to establish an exploration model and
strategy for these properties."

In accordance with NI 43-101, Harmen Keyser, P.Geol. is the
Qualified Person responsible for ensuring that they are
summarized accurately.

ON BEHALF OF THE BOARD NORTH AMERICAN GOLD INC.

Buck Morrow, President

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FOR FURTHER INFORMATION PLEASE CONTACT:
North American Gold Inc.
Kareen McKinnon
Toll Free: 1-888-627-9378
Website: www.northamgold.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.