Forest Gate Intersects Gold, Silver, Copper and Zinc in N.B.

October 28. 2003 - Montreal, Qc - Forest Gate Resources Inc. reports that it has intersected gold, silver, copper, zinc and lead mineralization in two shallow holes drilled on its 100%-owned Canoe Landing Lake polymetallic deposit located in the world-class mining camp of Bathurst, New Brunswick.

To keep its New Brunswick property mineral claims in good standing and while the company prepares its next drilling program for its East Side diamond property in Fort a la Corne, Saskatchewan, Forest Gate drilled two diamond drill holes into its Canoe Landing Lake deposit. For the time being, diamond exploration in Fort a la Corne is the company's main focus of activity.

With a small drilling budget, Forest Gate was able to test shallower zones of mineralization at Canoe Landing Lake, a deposit in which deeper zones of higher-grade mineralization have already been delineated.

Hole CL-03-1 intersects massive sulphides from 86.6 metres to 93.1 metres. The best section of this hole was between 89.3 and 93.1 metres where the core assayed 1.36 grams/ton gold, 37.29 grams/ton silver, 0.73% copper, 2.3% zinc and 0.62% lead.

Hole CL-03-2 intersected massive sulphides in a shallower zone from 38.4 to 42.4 metres. The best section ran from 40.1 metres 42.4 metres assaying 1.32 grams/ton gold, 28.63 grams/ton silver, 0.47 % copper, 1.35% zinc and 0.47% lead. Drilling was coordinated and supervised out of Bathurst by consultant Richard Mann, P.Geo (N.B.). Drill core was assayed by ALS Chemex, Vancouver.

"This drilling merely scratches the surface of this deposit," said Michael Judson, President of Forest Gate Resources Inc. "There is a tremendous amount more work that deserves to be done on this property."

The records of the New Brunswick Department of Natural Resources and Energy (Assessment Work File No. 473133) state that the geological "resource" (not the correct term according to present usage) on the 22.8 million tons of sulphide rock contains 0.03 oz/ton gold, 0.94 oz/ton silver, 0.56% copper, 1.82% zinc and 0.64% lead

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In other news, Mr. Judson reported that a private placement the company is executing is expected to close in the next several days