GATEWAY MINING LIMITED — Capital/Financing Update 2018

Apr 18, 2018

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

ASX Announcement: 19 April 2018

==> picture [146 x 89] intentionally omitted <==

MAIDEN DRILLING PROGRAM COMMENCES AT GIDGEE

Two rigs on site with up to 19,000m of RC, diamond and Aircore drilling planned

Key Points:

• Final statutory approvals received for the commencement of the Company’s maiden drilling programs at the recently expanded Gidgee Gold Project in Western Australia.

• A Reverse Circulation (RC) and diamond drill rig have both now arrived on site and will commence drilling immediately.

• Key prospects to be tested by initial RC and diamond drilling are the Whistler, Montague and Caledonian Targets, where drilling will test high-grade gold zones beneath historical shallow oxide open pits.

• The diamond drilling is being undertaken to provide definitive structural data and samples for initial preliminary metallurgical test work.

• A subsequent Aircore (AC) program has been designed to systematically test the prospective, highly mineralised margin of the Montague Granodiorite (MGD).

Gateway Mining Limited (ASX: GML) ( Gateway or Company ) is pleased to advise that its maiden drilling program has commenced at the Company’s 100%-owned Gidgee Gold Project, Western Australia following receipt of final statutory approvals. The multi-pronged program will test a series of high-priority targets.

The drilling program follows the completion last month of a highly successful $3.8 million capital raising and other transactions to consolidate an expanded 600km[2] ground-holding at Gidgee.

The initial RC drilling program will target the high-priority Whistler, Montague and Caledonian Targets, where historical drilling has consistently demonstrated that the high-grade mineralised structures remain open beneath the shallow, historical oxide open pits.

The planned RC drilling program will comprise approximately 9,000m (~60 holes), however consideration is currently being given to bringing forward a component of diamond drilling to provide important structural data at each of the targets as well as samples for preliminary metallurgical testwork.

The 10,000m AC drilling program will commence once the RC and diamond drilling is complete. The overall program will take ~2 months to complete and significant results will be reported on a progressive basis as they come to hand.

Peter Langworthy Managing Director GATEWAY MINING LIMITED