Gateway Gold Corp.
TSX : GTQ

Gateway Gold Corp.

July 13, 2005 17:34 ET

Gateway Gold Corp.: Geologic Resource Estimates for Big Springs Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 13, 2005) - Gateway Gold Corp. (the "Company") (TSX:GTQ) is pleased to report the results from two historic geologic resource estimates on the Big Springs property in northeastern Nevada. The estimates were prepared by Independence Mining Co., Inc. ("Independence") in 1994 and by Pincock Allen Holt Co., Inc. ("PAH") consultants to Independence, in 1992. Both of these studies were recently located by the Company within the extensive Independence database which was purchased by the Company from AngloGold North America Inc. late in 2004. Since these reports were prepared, the Company has completed over 30,000 metres of drilling on the Big Springs property. None of the Company's results have been included in the resource estimates below.

The study by Independence, the former owner and operator of the Big Springs mine, reported a global resource estimate of 850,428 ounces of gold within several mineralized zones at an average grade of 0.065 ounces per ton (opt) gold.

The second report, by PAH, estimated the potential underground resources. PAH calculated a measured, indicated and inferred resource as tabulated below.

The Independence global estimates were prepared from the total data available as of February 1, 1994 using 70-foot flat polygon assignments, with no capping of grades and no "single-hole" cases. These estimates were at a number of cut-off grades, two of which are reported below:



--------------------------------------------------------------
Cut-off Grade Average Grade
Opt Au Tons (opt Au) Ounces Au
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0.025 13,014,972 0.065 850,428
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0.050 5,215,174 0.111 578,437
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PAH was commissioned by Independence to provide an estimate of the potential resource available for underground mining for both the Big Springs mine and the Jerritt Canyon mine. In the report, dated July 7, 1992, PAH estimated the potential resources available in the North Sammy Creek and South Sammy Creek areas. They classified these as Measured and Indicated Resources (no more than 25 feet from a drill hole) or Inferred Resources (greater than 25 feet, but no more than 50 feet from a drill hole). The results of the PAH estimates are as follows:



--------------------------------------------------------------
Average Grade
Resource Tons (opt Au) Ounces Au
--------------------------------------------------------------
Measured and
Indicated 904,222 0.288 260,760
--------------------------------------------------------------
Inferred 517,136 0.248 128,056
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TOTAL RESOURCES 1,421,358 0.273 388,816
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Classification of the resources was done using the designations set forth in the USGS Circular 831 "Principles of a Resources/Reserve Classification for Minerals", dated 1980. The use of this classification scheme was standard industry practice at the time of the above studies. However, both of these estimates pre-date NI 43-101 and must not be relied on until an updated estimate is completed. Dr. Giles Peatfield, P.Eng., an independent consultant and qualified person under NI 43-101, is supervising the updating of the reports and the integration of the Company's drill hole data into the estimates in compliance with NI 43-101 requirements.

The Company has been actively exploring the Big Springs property for the past two years. During that time, the Company has completed over 30,000 metres of drilling on the property. Many of the drill holes encountered significant intervals of gold mineralization which were not included into the historic resource estimates. In addition, gold mineralization in the outlying areas of Beadles Creek, Crusher Zone and Dorsey Creek all are open for expansion of the mineralized zones.

The Company's 2005 drilling program is presently underway. The Company is planning a minimum of 20,000 metres of drilling with a budget of C$5,200,000. The majority of the drilling will be carried out at the Big Springs prospect to extend the known mineralized zones and expand the resource base. Additional drilling will be carried out on the Dorsey Creek and Golden Dome prospects to follow up on the encouraging results from last years program.

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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