GATEWAY MINING LIMITED — Capital/Financing Update 2021

Sep 28, 2021

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

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

ASX Announcement: 29 September 2021

Gidgee Project Farm-In Condition Achieved

Gateway Mining Limited (ASX:GML) ( Gateway or Company ) is pleased to provide an update in relation to its strategic Earn-In Agreement with Golden Mile Resources Ltd (ASX:G88) ( Golden Mile ) that significantly increases the footprint of the Company’s Gidgee Gold Project in Western Australia to over 1,000km[2] as announced on 23 July 2020 (Figure 1) ( Earn-In Agreement) .

The Earn-In Agreement was conditional upon Golden Mile obtaining appropriate exemptions under the Mining Act 1978 (WA) in relation to the expenditure conditions on the tenements comprised in the Agreement ( Condition Precedent ).

The Condition Precedent has now been met, granting Gateway the right to acquire up to an 80% interest in the Gidgee Project (refer to ASX announcement 23 July 2020).

==> picture [319 x 415] intentionally omitted <==

Figure (1): Gidgee Project Exploration Target Summary Plan with new Farm-in tenements

NEXT STEPS

Gateway has recently accelerated exploration efforts on the Earn-in Agreement tenure with the collection of a series of core geophysical datasets, heritage and environmental studies and Program of Work (PoW) applications for future drilling.

A comprehensive new ground gravity survey (Figure 2) and airborne magnetic data compilation have now been completed. These datasets will be used to provide context to existing anomalies and form the basis for the generation of a new series of exploration targets. Gateway plans to follow a disciplined and systematic approach to exploration, similar to that pursued over its core Eastern Montague Domain tenements, with the continual development and field testing of identified gold targets.

==> picture [255 x 357] intentionally omitted <==

Figure (2): Gidgee Project with ground gravity survey points and regional geology

For further details relating to the Earn-In Agreement please refer to the Company’s release dated 23 July 2020.

This released has been authorised by: Mark Cossom Managing Director

For and on behalf of GATEWAY MINING LIMITED

Competent Person Statement

The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Mr Mark Cossom who is a full-time employee of Gateway Mining Ltd and is a current Member of the Australian Institute of Mining and Metallurgy. Mr Cossom owns shares and options in Gateway Mining Ltd. Mr Cossom has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Cossom consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Investors Media Mark Cossom Nicholas Read Managing Director Read Corporate T: 02 8316 3998 T: 08 9388 1474 or Kar Chua Company Secretary T: 02 8316 3998

Click here to subscribe to investor updates