GATEWAY MINING LIMITED — Capital/Financing Update 2013

Apr 28, 2013

ABN: 31 008 402 391 Level 8, 210 George Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 Tel: 61 2 9191 4543 Fax: 61 2 8247 7999 Email: gml8@bigpond.com Website: www.gatewaymining.com.au

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29 April 2013

New Copper Target Discovered I

• Intersection at Dummy Spit represent virgin copper target discovery

• GRC245: 10m @ 0.38% Cu and 10m @ 1.61g/t Ag from 90m, including 5m @ 0.56% Cu

• Massive Sulphide horizon identified at the Gravel Pit

• Further confirmation of VMS Mineralisation

Gossans Galore

The Gossans Galore area has the potential to host numerous mafic / bi-modal mafic VMS mineralised deposits. Three identified electro-magnetic (EM) conductors are at an early stage of exploration, however geochemical and geophysical results received to date are extremely promising. In the most recent RC program, two holes, GRC245 and GRC246, were drilled at Gossans Galore. GRC245 at Dummy Spit intersected significant copper mineralisation of 5m @ 0.56% Cu from 90m . This represents a virgin copper discovery for the Company. GRC246 missed the target and did not intersect the geology that would account for the EM conductor.

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Dummy Spit Conductor

The intersection of 5m @ 0.56% Cu from 90m in GRC245 is an excellent initial result for the Company as this is the first hole which has drilled through the sulphide zone on the Dummy Spit conductor. GRC223, drilled in September 2012, did not reach the copper zone and was pulled up early due to drilling conditions. GRC223 (the previous hole) intersected 26m @ 1.61g/t Ag from 100m to the end of hole.

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The result in GRC245 result is extremely encouraging considering the early stage of exploration for the Dummy Spit conductor. There remains excellent potential for the width and grade of the mineralisation to significantly improve down dip, up strike and down strike, especially in the sections where the EM conductor is much stronger.

Subsequent analysis of the drill chips also shows what appears to be anhydrite interstitial to sulphides at Dummy Spit. Anyhydrite has been identified at numerous VMS deposits around the world. This would be an excellent outcome as the presence of anhydrite suggests VMS mineralisation that has not been highly metamorphosed or structurally deformed. The anhydrite mineral would ordinarily be destroyed during regional metamorphism or deformation, so its presence suggests the VMS mineralisation remains in pristine condition.

In a further encouraging sign, the chalcopyrite was intersected beneath an anomalous silver zone of 10m at 1.61g/t Ag. This appears to correspond extremely well to the silver geochemical signatures seen at The Cup (refer announcement on 24 April, 2013), and possibly represents a regional geochemical signature.

Interestingly, there was a highly significant cadmium intersection in GRC223 (the previous hole) of 10m @ 25.4ppm Cd from 100m which was not intersected in GRC245 (drilled up dip). The increasing geochemistry down dip, combined with the widening silver intersection down dip, suggests there is a likelihood that widths and grade will improve further with deeper drilling.

Scott Jarvis, Head Geologist, said “This is a very exciting result for the Company as it represents a newly discovered copper target within the project area. The results and geology suggest we have just clipped the top of a mineralised body , making this a high priority target for the next RC drilling program in July / August.”

Gravel Pit

Two RC holes were drilled at Gravel Pit during the quarter targeting EM conductive anomalies about five kilometres SSE along strike from The Cup copper discovery. Both holes intersected prospective VMS geology, anomalous in copper and zinc.

GRC241 drilled highly weathered felsic rocks anomalous for base metals including 55m at 264ppm copper from 10m and 66m at 270ppm copper and 451ppm zinc from 119m to end of hole in carbonaceous sediment and disseminated sulphides.

GRC242 intersected 80m at 349ppm copper and 246ppm zinc from 30m in highly weathered felsic rocks.

These results are significant because they provide confirmation that VMS prospective terrain from within which The Cup prospect was discovered extends into the southwest of the Gidgee Project where there are multiple conductive anomalies interpreted from MLTEM ground survey test work. The MLTEM anomalies are located below shallow transported cover, and amount to about 12 kilometres of strike extent which to date has had extremely limited drill hole coverage carried out.

Aircore drilling scheduled to commence soon is designed to traverse MLTEM conductive trends at Gravel Pit. Aircore drilling is expected to penetrate to relatively deep levels cost effectively because of the deep level weathering encountered to date at Gravel Pit. Drilling is on wide line spacing and is intended to locate VMS geological/geochemical horizons that occur close to surface which can then be swiftly targeted by later drill programs.

Further Results and Drilling

The Company expects to commence an approx. 10,000m aircore drilling program over the Gossans Galore and Gravel Pit areas. A further update will be provided to the market on commencement of the program.

About Gateway Mining Limited

Gateway holds approximately 150sqkm of tenements over the Gum Creek Greenstone Belt in the Yilgarn Craton, Gidgee WA (600km NE of Perth). The tenements have all the hallmarks of a significant new VMS province, along with existing gold mineralisation throughout the project. The Company is well funded and plans to test a large number of highly prospective targets over the remainder of 2013. Gateway also has in place a very experienced management and technical team.

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Scott Jarvis, the Head Geologist at Gateway Mining, a member of the Australian Institute of Geoscientists. Mr Scott Jarvis has a minimum of 5 years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Scott Jarvis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.