Gateway Gold Corp.
TSX : GTQ

Gateway Gold Corp.

June 29, 2005 17:04 ET

Gateway Gold Corp.: 2005 Work Program Commences

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 29, 2005) - Gateway Gold Corp. (TSX:GTQ) (the "Company") is pleased to report that our geological crew has mobilized to the field office in northeastern Nevada to commence the 2005 drilling campaign. The Company is planning a minimum of 20,000 metres of drilling on its gold properties. The program is budgeted at C$5,200,000 and drilling has commenced with one reverse circulation drill rig. The first diamond drill rig is scheduled to arrive this week with a second to follow shortly thereafter.

The majority of the drilling will be carried out at the Big Springs prospect to expand the mineralized zones. Compilation of the data from the 2004 program and from the Independence Mining Company's ("IMC") data purchased last fall from AngloGold North America Inc. ("AngloGold") has developed numerous compelling targets that will be drill tested this year. Additional drilling will be carried out on the Dorsey Creek and Golden Dome prospects to follow up on the encouraging results from last year's program.

The completion of the Company's resource estimate has been delayed to allow for an evaluation of two historic resource estimates that were recently received. The studies were discovered within the data that was purchased from AngloGold (the successor company to IMC). One study was done by a major U.S. based consulting firm while the second one was done by IMC's engineering staff. The Company believes both of these studies are reliable and should be reviewed for possible integration into the Company's current studies. The studies are being carried out under the direction of Dr. Giles Peatfield, a qualified person under NI-43-101.

The Company owns five gold prospects in northeastern Nevada. All of the properties are located several kilometres north of the Jerrit Canyon Mine, which is operated by Queenstake Mines.

ON BEHALF OF THE BOARD,

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

Dr. Giles Peatfield, P. Eng. is an Independent Qualified Person for GTQ and has reviewed and approved the contents of this release.


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