GATEWAY MINING LIMITED — Capital/Financing Update 2018

Mar 11, 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

Level 11, 52 Phillips Street Sydney NSW 2000

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Fax:

CLOSE OF ENTITLEMENT OFFER

12 March 2018

Gateway Mining Limited ( Company ) advises that its non-renounceable entitlement issue of one (1) share for every one (1) share held by eligible shareholders at an issue price of $0.012 per share ( New Shares ), to raise up to $3,821,076 before costs (together with one (1) free attaching option for every five (5) shares subscribed for and issued ( New Option ) ( Offer ), closed at 5:00pm (AEDT) on 9 March 2018 ( Closing Date ).

The Company advises that it has received subscriptions from shareholders as follows:

Details	New Shares	New Options	Proceeds
Entitlement Securities	19,397,612	3,879,523	$232,771.38
Additional SecuritiesSubscribed UnderShortfall	5,537,757	1,107,552	$66,453.10
Total	24,935,370	4,987,074	$299,224.48

The total securities available under the Offer is 318,422,962 New Shares (63,684,593 attaching New Options) leaving a shortfall of 293,487,593 New Shares and 58,697,519 attaching New Options ( Shortfall Securities ).

The offer to issue Shortfall Securities is a separate offer under the Entitlements Issue Prospectus dated 13 February 2018 ( Prospectus ). In accordance with the Prospectus, the Company reserves the right to place any Shortfall Securities within three months of the Closing Date. The Company has received strong interest in placing the Shortfall Securities and any shareholder wishing to participate in the shortfall can contact the Company Secretary on 02 8316 3998.

As per the timetable for the Offer, the issue date of the New Shares and New Options is Friday 16 March 2018.

Yours faithfully

Gary Franklin Company Secretary GATEWAY MINING LIMITED