Gateway Gold Corp.
TSX : GTQ

Gateway Gold Corp.

October 25, 2007 12:01 ET

Gateway's Drilling Discovers Gold Mineralization at Lower Mac Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2007) - Gateway Gold Corp. (the "Company") (TSX:GTQ) is pleased to report results from the first three holes from the diamond drilling program currently underway on the Lower Mac Ridge project in northeastern Nevada. The holes were drilled within one of the three areas where widespread gold mineralization was discovered by the Company's previous surface sampling and trenching in the area. The holes are approximately 100 feet apart (see accompanying map at the following link: http://www.ccnmatthews.com/docs/gtq1025.pdf) and were each drilled to a depth of about 400 feet. Intervals reported are drilled widths, which may not represent true widths of the mineralized zones.



Hole From To Hole Interval Grade
Number (feet) (feet) (feet) (g/t Au)
------------------------------------------------------------------

MR-07-01 0 65 65 1.670
Including 0 40 40 2.547
or including 5 30 25 3.688

MR-07-02 80 105 25 0.748
Including 90 95 5 1.150

MR-07-03 15 65 50 1.744
Including 30 60 30 2.650


"We are excited about the results from the initial holes at Lower Mac Ridge", commented M.D. McInnis, President and CEO of Gateway Gold. "The results are similar to the results we received from our trenching program and confirm that the gold mineralization continues to depth". He went on to say, "Deposits in this setting have potential to be large and high grade. The mineralization starts at or near the surface and visually appears to be oxidized. The economics for a near surface oxidized gold deposits are very good. We look forward to testing the discovery for size and continuity."

Seventeen 400 foot holes will have been drilled by the end of the week, with results expected over the next 2 to 6 weeks.

Gateway Gold Corp is a mineral exploration company with an experienced management team and a solid track record of exploration success. The Company is focused on the discovery and development of gold deposits in Nevada, currently with six active exploration projects. The Company's most advanced project, the Big Springs property, has a NI 43-101 compliant resource estimate of 1.2 million ounces gold with an average grade of 0.078 opt at 0.025 opt cut-off.

All samples are prepared and analyzed by ALS Chemex, with sample preparation in Elko and analyses in North Vancouver. Dr. Giles Peatfield, P.Eng. is an Independent Qualified Person for GTQ and has reviewed and approved the contents of this release.

ON BEHALF OF THE BOARD

Michael D. McInnis, P.Eng., President and CEO

The TSX does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • Gateway Gold Corp.
    Michael D. McInnis
    President
    (604) 801-6040
    or
    Gateway Gold Corp.
    Raju Wani
    Investor Relations
    (403) 240-0555
    or
    Gateway Gold Corp.
    Ron Cooper
    Investor Relations
    (604) 986-0112
    Website: www.gatewaygold.com