GATEWAY MINING LIMITED — Capital/Financing Update 2018

Mar 15, 2018

ABN: 31 008 402 391 ABN: 31 008 402 391 Level 11, 52 Phillips Street Sydney NSW 2000 Level 11, 52 Phillips Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 GPO Box 225 Sydney NSW 2001 Tel: 61 2 8316 3998 Tel: 61 2 9191 4543 Fax: 61 2 8316 3999 Website: www.gatewaymining.com.au

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Fax:

16 March 2018

GATEWAY RAISES $3.8M TO ADVANCE WA GOLD STRATEGY FOLLOWING SUCCESSFUL PLACEMENT OF SHORTFALL SECURITIES

Proceeds to underpin upcoming drilling and exploration programs at recently consolidated and expanded Gidgee Gold Project, WA

Gateway Mining Limited ( Company ) is pleased to advise that it has successfully raised a total of $3.8 million to underpin upcoming exploration programs at the Gidgee Gold Project in WA as part of its recently announced repositioning as a focused Australian gold explorer.

The Company has completed the placement of 293,387,593 shares and 58,677,514 attaching options ( Shortfall Securities ), being the Shortfall arising from its recent non-renounceable entitlement issue ( Entitlements Issue ).

The Shortfall Securities have been issued pursuant to the Entitlements Issue Prospectus dated 13 February 2018 ( Prospectus ), in which the Company reserved the right to place any Shortfall Securities within three months from the closing date of the Entitlements Issue.

The issue price of each share issued pursuant to the shortfall offer is $0.012 per share, being the price at which shares have been offered under the Entitlements Issue, and there will be a one (1) free attaching option for every five (5) shares subscribed for and issued under the shortfall offer.

In accordance with the Shortfall Securities allocation policy, eligible shareholders who applied for additional Shortfall Securities will receive 100% of the additional Shortfall Securities they subscribed for.

The issue of shortfall securities has raised an additional $3,520,651, bringing the total raised to date under the Entitlements Issue to $3,821,075.

The Company is pleased with the strong support from existing shareholders and the level of interest it received from new investors.

The Appendix 3B for the Entitlements Issue, Shortfall Securities, and the issue of shares and options as a result of the Company’s Annual General Meeting held on 9 March 2018 will follow this announcement.

ABN: 31 008 402 391 ABN: 31 008 402 391 Level 11, 52 Phillips Street Sydney NSW 2000 Level 11, 52 Phillips Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 GPO Box 225 Sydney NSW 2001 Tel: 61 2 8316 3998 Tel: 61 2 9191 4543 Fax: 61 2 8316 3999 Website: www.gatewaymining.com.au

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Fax:

Drilling programs are scheduled to commence at the Company’s flagship Gidgee Gold Project in WA in late March, as outlined in recent ASX announcements and the Company’s investor presentation lodged on 1 March 2018.

Yours faithfully

Gary Franklin Company Secretary GATEWAY MINING LIMITED