Gateway Farms Out Island Mountain Gold Property

VANCOUVER, BC - Gateway Gold Corp. reported that it has entered into an Option Agreement on the Company's Island Mountain property in Elko County, northeastern Nevada. The Company has agreed to grant Arnevut Resources, Inc., a private Colorado company an option to acquire an initial 51% interest in the Island Mountain property with further options to increase its interest to a 75% interest in the property.

The Island Mountain property comprises 53 claims and is located approximately ten miles north of Gateway's Big Springs property. Geochemical rock and soil surveys have established a number of large gold anomalies where drilling by Gateway and previous operators has intercepted gold mineralization. Significant areas within the anomalous zones are untested by drilling and provide excellent opportunities for the discovery of further mineralization.

The company's address is 906 - 595 Howe St., Vancouver, BC V6C 2T5, 604 801 6040, fax: 604 801 6075.