Gateway Gold Corp.

Gateway Gold Corp.

October 06, 2005 11:19 ET

Gateway Gold Corp.: Lower Plate Rocks Discovered at Golden Dome Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 6, 2005) - Gateway Gold Corp. (the "Company") (TSX:GTQ) is pleased to report that Lower Plate rocks have been intersected in the first hole drilled this year at the Golden Dome property. "Lower Plate rocks are the most significant host rocks for gold deposits in Nevada", commented Michael D. McInnis, President of Gateway. "These rocks are the hosts for the ore bodies at Jerritt Canyon and many other major gold deposits in Nevada, including those in the Cortez trend. Lower Plate rocks were not known to exist on the Golden Dome property before and the discovery of these prospective rocks greatly enhances the discovery potential of the property".

The Golden Dome property lies approximately halfway between the Company's Big Springs deposit and the Jerritt Canyon mines to the south. Geologic interpretation by the Company's geologists had postulated that Lower Plate rocks could exist at moderate depths beneath a gravel-covered area in the middle of the Golden Dome property. Hole GD05-07C was drilled to test a target where a high angle fault, anomalous in gold, arsenic and antimony, was projected to intersect Lower Plate rocks. At a depth of 1,707 feet, the hole passed through the Roberts Mountains thrust fault and encountered Lower Plate rocks. The hole stayed in Lower Plate rocks until it was terminated at 2,752 feet. Assay reports for this hole are not yet complete and results will be announced when available.

This discovery has established an area of about 6 square kilometres that is potentially underlain by Lower Plate rocks at this depth. To cover the full extent of the prospective area, the Company has staked an additional 101 mineral claims. A second hole collared about 1,300 feet from the first hole has commenced and currently is at a depth of 1,450 feet.

Drilling at the Company's Big Springs property is progressing on schedule with three drill rigs currently operating. The receipt of assays has been particularly slow during September due to a long turn-around time at the analytical lab. However, a number of assays have been received over the past two weeks. The assays are being compiled and interpreted by the Company's staff and will be released within ten days.


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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