26 Nov

Drilling Resumes at Gidgee Gold Project

ABN: 31 008 402 391 Level 11, 52 Phillips Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 Tel : 61 2 8316 3998 Fax: 61 2 8316 3999 Website: www.gatewaymining.com.au LinkedIn: @gateway - mining Twitter: @gateway_mining ASX Announcement: 26 Novembe r 2021 DRILLING RESUMES AT GIDGEE GOLD PROJECT Next phase of drilling underway to systematically test targets within 5km of existing deposits HIGHLIGHTS ? 2,500 m Reverse Circulation drilling program has commenced a t Julias and Kashmir . ? Drilling designed to follow - up recent high - grade air - core results at Julias , which included 1 : • GWAC0971: 13m @ 4.0g/t Au • GWAC0972: 3m @ 7.2g/t Au • GWAC0974: 14m @ 1.1g/t Au • GWAC0978: 7m @ 1.6g/t Au, and 1m @ 8.6g/t Au • GWAC0965: 24m @ 1.4g/t Au ? Drilling will also systematically test the Kashmir targe t, l ocated directly along strike from Horizon Gold ’s (ASX: HRN) 204koz Howards gold deposit . ? Assay results from the September 2021 RC program at Achilles North are imminent . ? Work on December 2021 Project - wide Mineral Resource update continues on schedule . Gateway Mining Limited (ASX: GML) ( Gateway or Company ) is pleased to advise tha t , following its successful $6 million capital raising completed on 1 November , it has commenced a new program of Reverse Circulation ( RC ) drilling at its 100% - owned Gidgee Gold Project in the Murchison district of WA. The 2,500 m program is designed to follow - up on recently reported high - grade air - core results from the Julias target, as well as to commence systematic testing of the Kashmir target. Testing of this next generation of targets is consistent with Gateway’s strategy of systematically advancing prospective areas within 5km of its existing Mineral Resources along the margin of the Montague Granodiorite dom e. The program is expected to take approximately two weeks to complete . The results will be critical in advancing this next generation of targets . A ssay results are also imminent from the RC program completed in September . This drilling comprised systematic extensional drilling along strike of Achilles North which will be included in the maiden Mineral Resource estimate, as well as holes to test extensions to the mineralisation at the Evermore discovery and the recently identified granodiorite - hosted mineralisation below the Montague - Boulder Mineral Resource . Work is continuing on schedule for the update to the Project - wide Mineral Resources, including up dated Mineral Resourc es for the Montague - Boulder and Whistler deposits , and maiden Resources for the Evermore and Achilles North / Airport deposits. The Mineral Resource update is due to be delivered during December 2021. 1 See ASX release dated 21 October 2021 Management Comment Gateway’s Managing Director, Mr Mark Cossom, said: “ Following our recent $6 million raising, w e are really pleased to have secured an RC rig to undertake a further focused 2,500m program across two of our next - generation targets at Gidgee to wrap up our 20 21 field season. “ These focused, campaign - style programs have proven to be the most effective and efficient way of advancing exploration, particularly in light of the long turnaround t imes for assay results at the moment . This program will test two exciting new targets at Julias and Kashmir, with results expected to be available early next year. “I n the meantime, shareholders can look forward to the Project - wide Mineral Resource upgrade for Gidgee. Work on this is well advanced and we expect to deliver the updated Resource within the coming weeks.” Figure (1): Gidgee Gold Project target locations for upcoming work programs. Note the 5km radius from the Montague Granodiorite. This released has been authorised by: Mark Cossom Managing Director For and on behalf of GATEWAY MINING LIMITED Competent Person Statement The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Mr Stuart Stephens who is a full - time employee of Gateway Mining Ltd and is a current Member of the Australian Institute of Geoscientists . Mr Stephens owns options in Gateway Mining Ltd. Mr Stephens has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code of Reporting o f Exploration Results, Mineral Resources and Ore Reserves”. Mr Stephens consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. Investors Media Mark Cossom Nicholas Re ad Managing Director Read Corporate T: 02 8316 3998 T: 08 9388 1474 or Kar Chua Company Secretary T: 02 8316 3998 Click here to subscribe to investor updates Follow us on: LinkedIn: @gateway - mining Twitter: @gateway_mining APPENDIX (1) About the Gidgee Gold Project Gidgee Gold Project Tenement Location Diagram
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