Gateway Gold Corp.
TSX : GTQ

Gateway Gold Corp.

September 10, 2007 07:30 ET

Gateway Starts Drilling Lower Plate Gold Discovery at Mac Ridge Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2007) - Gateway Gold Corp. (the "Company") (TSX:GTQ) is pleased to report that diamond drilling has commenced on the Lower Mac Ridge prospect in northeastern Nevada. Three outcropping zones of gold mineralization in Lower Plate rocks will be tested with a minimum of 10 holes comprising approximately 1,000 meters of drilling. This initial Phase I program will take approximately 40 days to complete and will be followed up immediately with a Phase II drilling program if the initial results are successful.

Rock chips collected in 2005 from the discovery outcrop returned gold values ranging from 1.17 g/t to 5.67 g/t. (see News Release dated Jan 23, 2006). Work carried out in 2006 was successful in extending the gold-bearing Lower Plate rocks for a minimum distance of 560 metres (1,800 feet) and delineating Lower Plate stratigraphy over at least 3,000 metres (10,000 feet). Four hand-dug trenches all returned mineralized intervals ranging from 3.0 metres (10 feet) to 20 metres (65 feet) with average grades ranging from 0.98 g/t to 2.71 g/t. (see News Release dated Jan. 31, 2007). These wide-spread discoveries have established Lower Mac Ridge as one of the Company's most exciting prospects.

"We are very excited about testing this discovery," commented Michael McInnis, President and CEO of Gateway Gold. "This is a brand new discovery of gold in outcropping Lower Plate and has a high potential for economic success."

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.

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.

Certain of the statements made and information contained herein is "forward- looking information" within the meaning of the Ontario Securities Act. and the Alberta Securities Act or "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 of the United States. Forward-looking statements and forward looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements and forward looking information, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters and surface access, labour disputes or other unanticipated difficulties with or interruptions in production, the potential for delays in exploration activities and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form and in each management discussion and analysis. Forward-looking information and forward looking statements are in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Nevada will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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
    (604) 801-6075 (FAX)
    Website: www.gatewaygold.com
    or
    Gateway Gold Corp.
    Raju Wani
    Investor Relations
    (403) 240-0555
    or
    Gateway Gold Corp.
    Ron Cooper
    Investor Relations
    (604) 986-0112