Forest Gate Resources Inc. reports that it has identified at least 13 distinct geophysical anomalies on its wholly-owned South Side property located near Melfort, about 100 kilometres southeast of Prince Albert, Saskatchewan.

Forest Gate Resources Inc. is pleased to announce that subject to certain conditions, it has acquired 100% ownership of a diamond property on the central-western border of the main cluster of kimberlites in the Fort a la Corne forest near Prince Albert, Saskatchewan.

Forest Gate Resources Inc. is pleased to announce that it has successfully closed its previously announced (August 23, 2005 and increased on September 21 and 28, 2005) flow-through private placement in the amount of $1,500,000. Northern Securities Inc. acted as agent for the financing.

Blue Note Metals Inc. ("Blue Note"), a wholly-owned subsidiary of Forest Gate Resources Inc. (TSXV:FGT) ("Forest Gate"), today announced that it has delivered a proposal to URSA Major Minerals Incorporated ("Ursa") for a business combination between Ursa and Blue Note.

Forest Gate Resources Inc. is pleased to announce that it has granted to its agent Northern Securities Inc. an option to increase the size of its previously announced private placement of up to $1 million of flow-through shares by up to an additional $200,000.