DRAPER, UT--(Marketwire - May 10, 2012) - Gold and GemStone Mining, Inc. (OTCBB: [ GGSMD ]) today issued a letter to shareholders from the company's CEO, Charmaine King, to share the strategic direction the company will pursue to spur future growth and profits.

Dear Fellow Shareholders,

Over the past months we have focused considerable energies to determine a new course for our company. Our primary goal was to identify a business sector that would set a solid foundation for the future growth.
I am pleased to report our efforts have yielded promising results. Because we believe we've found a profitable new focus for our company.

Effective immediately we plan to become a diamond and gold exploration and development company. This is an area where our new management team has extensive experience.

Here's some of what we hope to accomplish in the upcoming year:

• Develop a comprehensive business plan to pursue our new direction.
• Identify key joint venture partners in deposit rich areas around the world.
• Consistently report on our progress via news releases so shareholders and the general public know about our achievements.

Thanks for this opportunity to bring you up to date on what's been going on -- and what is planned for the future -- with your company.

Sincerely,
Charmaine King, CEO

About Gold and GemStone Mining Inc.
Gold and GemStone Mining Inc. is an exploration stage company that will engage in the acquisition, exploration, and development of Diamond and Gold properties around the world. Integral to our plan is to form strategic alliances and joint ventures with gold and diamond mining companies.

FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.