Rockgate Capital Corp.
TSX VENTURE : RGT

Rockgate Capital Corp.

May 15, 2009 09:21 ET

Rockgate Revises Global Resource Estimate, Falea Uranium-Silver Project, Mali

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2009) - Rockgate Capital Corp. (TSX VENTURE:RGT) (the "Company") has been advised by independent consultant Golder Associates that the uranium results announced in the Company's May 14, 2009 news release are incorrect and must be restated. The reason for the restatement is based on the misinterpretation by Rockgate's chief geologist of the uranium results stated in the Golder Associates report. The net effect of the restatement is a lowering of the uranium resource by approximately 17%. The silver resource estimate remains the same.

Tables #1 and 2 below contain the corrected total mineral resource at Falea, tonnes and grade at 0.03% U3O8 cut-offs based on ordinary Kriging and uncapped and capped values respectively. The total resource at Falea entails the Central, North and Bodi Zones combined. U3O8 and Silver values are rounded to nearest 1000. The complete Golder Associates report will be available on SEDAR within 45 days.



Table # 1- Uncapped Total Resource

Resource Cut-off U3O8 Ag U3O8 Ag
Category U3O8 (%) Tonnes (%) (g/t) (lbs) (oz)

Indicated 0.03 572,000 0.069 61 871,000 1,116,000

Inferred 0.03 10,270,000 0.086 92 19,381,000 30,484,000


Table #2- Capped Total Resource

Resource Cut-off U3O8 Ag U3O8 Ag
Category U3O8 (%) Tonnes (%) (g/t) (lbs) (oz)

Indicated 0.03 469,000 0.076 48 867,000 723,000

Inferred 0.03 8,502,000 0.094 78 17,910,000 21,373,000


- Using the 0.03% U3O8 cut-off and capped values the North Zone contains a total resource of 13,989,000 pounds U3O8 and 21,676,000 ounces of silver representing 75% and 98% respectively of the total resources at Falea. Refer to Table # 3 for the North Zone resource.



Table #3 Capped North Zone Resources only

Resource Cut-off U3O8 Ag U3O8 Ag
Category U3O8 (%) Tonnes (%) (g/t) (lbs) (oz)

Indicated 0.03 76,000 0.132 246 222,000 601,000

Inferred
(West side) 0.03 2,453,000 0.124 110 6,723,000 8,708,000

Inferred
(East side) 0.03 3,882,000 0.082 99 7,044,000 12,367,000


Rockgate chief geologist Lorne Warner stated "I take full responsibility for this situation. My calculation error was based on an incorrect assumption from the information provided in the Golder report and I deeply regret the mistake."

ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKGATE CAPITAL CORP.

Lorne Warner, P. Geo., Chief Geologist, Vice President, Exploration

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rockgate Capital Corp.
    Karl Kottmeier
    President
    (604) 678 8941
    or
    Rockgate Capital Corp.
    Kirk Gamley
    VP Corporate Development
    (604) 678 8941
    (604) 689 7442 (FAX)
    www.rockgatecapital.com