Rockgate Capital Corp.

Rockgate Capital Corp.

March 10, 2008 13:04 ET

Rockgate Samples 2.55% Uranium, 1380 g/t Silver, 4.71 % Selenium and 5.50 % Copper at Bathurst Inlet Project, Nunavut

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2008) -


Rockgate Capital Corp. (TSX VENTURE:RGT) (the "Company") is pleased to announce additional rock grab sample assay results obtained from the company's Pomy uranium deposit. The Pomy Deposit is located within Rockgate's 100 percent owned, Bathurst Inlet Project which covers approximately 1,000 square kilometers of the Proterozoic, Kilohigok Sedimentary Basin near Bathurst Inlet, Nunavut Territory, Canada.

In July, 2007, twenty-two rock samples were collected by Rockgate from 10 trenches first developed by Cominco in 1976 over a 900 metre strike length of known uranium mineralization. High grade selenium and silver were discovered at this time to occur with the uranium mineralization in Trenches 3 and 4 with values of up to 2.121% Uranium, Selenium values to 6.1% and Silver values to 1810 g/t from this area. Details of the assay results from all twenty-two samples were outlined in the September 2007 news release.

The enclosed assay results in Table # 1 are from five additional grab samples collected in late September 2007 by Rockgate personnel from Trench #3. Significant concentrations of mercury up to 91,633 ppb and bismuth up to 206.30 ppm were also obtained.


Sample Number Uranium Selenium Silver Copper Lead
U308 % % g/tonne % %
G12464 0.62 1.80 500.0 1.61 1.27
G12465 1.64 2.86 2080.0 3.20 1.07
G12466 0.02 0.18 38.3
G12467 2.55 4.71 1380.0 5.50
G12468 1.39 3.78 1320.0 4.10 1.40

The Company has compiled and studied the historical data produced by Cominco in the 1970's and identified a number of geological highlights from the Pomy prospect including:

- Grab samples of up to 4.35% U3O8 in sandstone

- Grab samples of up to 6.5% U3O8 in basalt

- Trench sample of 2.10% U3O8 over 4 metres along the sandstone/basalt

- Diamond drill hole PM-3 intercepted 0.17% U308 over 8.11 metres in the

- Diamond drill hole PM-7 intercepted 0.28% U3O8 over 10.0metres in the

Rockgate's Nunavut project is located along the west side of Bathurst Inlet over a large Proterozoic, sedimentary basin with known uranium occurrences. These occurrences are situated near the basal angular unconformity and in close proximity to a large regional structure called the Bathurst Inlet Fault. The majority of mineralization is situated within the Proterozoic, Brown Sound Formation basalt and at both contacts with sandstones.

Previous geological mapping outlined three separate basalt flows within the Pomy area. Detailed mapping indicates the majority of the sediments and basalt flows are north trending with a consistent moderate westward dip. However, in the Trench # 3 area where the high grade mineralization was discovered both units rotate rapidly to a near vertical dip. The regional Bathurst Fault trends along the entire length of Rockgate's Bathurst Inlet project and is within one kilometre of the Pomy mineralization. Numerous north-west trending structures cross the mineralized basalts and may be responsible for the rapid change in dip.

Permit applications will be submitted to complete diamond drilling of the Pomy mineralization this summer and fall. The current drill proposal outlines 10 holes to test along the known 900 metre trend of mineralization. The holes are designed to cross-cut, perpendicular to the north-west trending structures where they cross the basalt flows. Additional diamond drilling will be focused in the area of the recently discovered high-grade mineralization.

Eco Tech Laboratory Ltd. of Kamloops B.C., an accredited laboratory, is conducting the sample preparation and analyses. Mr. Lorne Warner, P. Geo, Director and VP Exploration is the Qualified Person for the Company under NI 43-101.

As announced in the March 3rd, 2008 news release, Rockgate plans to spin off the Company's Canadian assets into a new exploration company ("Subco") pursuant to a Plan of Arrangement to be implemented under the Business Corporations Act (British Columbia). As part of the arrangement, Rockgate shareholders will retain their Rockgate shares and will receive units in Subco based on a ratio of one unit of Subco for every three shares of Rockgate held. This arrangement is subject to the approval of shareholders and the TSX Venture Exchange.


Karl Kottmeier, President

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.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

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