GATEWAY MINING LIMITED — Interim / Quarterly Report 2020

Oct 28, 2020

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: 29 October 2020

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SEPTEMBER 2020 QUARTERLY ACTIVITIES REPORT

Potential of Gidgee Gold Project continues to grow with mineralised footprint of cornerstone Whistler Deposit substantially expanded and major new regional gold trends identified; 30,000m of drilling underway in 2H of 2020 aimed at unlocking significant new discoveries

HIGHLIGHTS

• Successful re-commencement of drilling activities at the Gidgee Gold Project, with a 4,500m Reverse Circulation (RC) program completed at Whistler West, Achilles, Kashmir and Montague-Boulder. Drilling was focused on testing new concepts derived from the extensive compilation and targeting completed during the COVID-19 induced suspension of field activities.

• Drilling at Whistler West successfully intersected Montague-Boulder style mineralisation 1.1km north of the Montague-Boulder Mineral Resource. Best intersections include:

• GRC496: 6m @ 6.0g/t Au from 54m

• GRC488: 10m @ 1.5g/t Au from 37m

• o GRC497: 3m @ 1.1g/t Au from 81m o GRC490: 3m @ 1.7g/t Au from 14m and 4m @ 1.1g/t Au from 68m

• Drilling at Achilles successfully intersected wide zones of granodiorite-hosted mineralisation, which are interpreted to be continuous with results returned from previous drilling to the south. Significant new assays include:

• GRC507: 14m @ 1.0g/t Au from 3m

• GRC508: 7m @ 2.5g/t Au from 61m and 6m @ 1.5g.t Au from 45m

• o GRC501: 4m @ 2.9g/t Au from 64m

• Drilling at Kashmir successfully intersected high-grade mineralisation in traverses 1km apart testing the 1.8km long gold-in-soil anomaly located along directly strike from the 200,000oz Howards Gold Deposit (owned by Horizon Gold Ltd – ASX: HRN). Significant results include:

• GRC520: 2m @ 7.9g/t Au from 3m

• GRC524: 1m @ 8.8g/t Au from 59m

• o GRC522: 2m @ 1.6g/t Au from 105m

• In-fill drilling at the Montague-Boulder deposit, designed to test the orientation of high-grade plunge controls within the existing Mineral resource area, successfully intersected high-grade mineralisation. Significant results included:

• GRC525: 8m @ 5.2g/t Au from 124m (including 4m @ 9.0g/t Au)

• GRC526: 4m @ 16.0g/t Au from 69m

• Strongly-supported $7M share placement completed, underpinned by existing and new institutional, professional and sophisticated investors. In addition, $2M was successfully raised through a Share Purchase Plan (SPP) for existing eligible shareholders.

• The Gidgee Gold Project was expanded to 1,000km[2] through the execution of a strategic Earn-in Agreement with Golden Mile Resources Ltd (ASX:G88).

• Gateway continued to rationalise and streamline its project portfolio, with an agreement signed to divest the non-core Sylvania Project to Lighthouse Holdings Ltd (Lighthouse) for $150,000 in Lighthouse shares, and the grant of a 1.5% gross revenue royalty over the tenements.

GIDGEE GOLD PROJECT, WA (GML: 100%)

Gateway embarked on a major new exploration program aimed at unlocking the potential of the Gidgee Gold Project during the quarter, with over 30,000m air-core and Reverse Circulation drilling planned in the second half of the year.

An initial 4,500m RC program was completed during the quarter, together with an expanded soil geochemical sampling program. This RC program was followed by commencement of a major 15,000m air-core program, which was ongoing at the Quarter-end. RC drilling has also since resumed at Gidgee.

The Company has also significantly expanded its land position at Gidgee with the signing of an Earn-in Agreement with Golden Mile Resource Ltd for two leases (E57/1039 and E57/1040) covering an area of over 400km[2] in the west of the Gidgee Greenstone Belt.

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Figure (1): Gidgee Gold Project Location Plan

Montague Granodiorite – Surface Geochemical Sampling

During the Quarter, Gateway reported results from an extended soil geochemical sampling program covering the northern half of the Montague Granodiorite System. This program followed on from the initial results in the southern half of the Montague Granodiorite system (see ASX release 13 May 2020). This sampling pattern now covers the entirety of the Montague Granodiorite system within Gateway’s tenure, as well as to the north and east to cover prospective horizons within the older units of the Gum Creek Greenstone Belt. The results of this sampling program have highlighted a series of exciting anomalies, which provide significant new targets for follow-up exploration (Figure 2).

A total of 3,996 samples were collected on a nominal 200m x 50m grid, which was widened in parts away from the main Ganodiorite system to 400m x 50m. When combined with the program reported in May 2020, a total of 5,708 samples have now been collected across the entire Montague Dome.

Full details of all anomalies are included in the ASX release dated 18 August 2020. However, highlights of the sampling results include (Figure 2):

• Anomaly A – Hangingwall Shear hosted target, west of the Montague Boulder pit and north-west contact zone. This anomaly is approximately 3,000m x 400m in size, corresponding to interpreted shear zones within the mafic volcanics. Several shallow shafts known as “The Plymouth” exist, with the only drill testing via RAB drilling methods generally proximal to the workings.

• Anomaly C – Proximal Mafic Shear Zone target on the north-west contact of the Montague Granodiorite system. Defined mineralisation exists at the Montague Boulder pit, but a strong consistent anomaly has been returned along the 2.3km strike from the northern tip of the intrusion south toward the Caledonian NE pit. Outside of the Montague Boulder Resource area, drilling has largely been ineffective shallow RAB, not penetrating the basalt sequence.

• Anomaly D – Granodiorite Hosted Stockwork target around and to the south of the structural system that hosts mineralisation at Achilles. This anomaly indicates extensive mineralisation potential within a large area of the granodiorite unit over approximately 2,200m x 1,300m. It includes the previously defined “Crosswind” anomaly, which is now interpreted to be part of a much larger system. The centre of this anomaly has been subdued due to a transported overburden unit, which has generated a north-east trending negative anomaly. The target area was only previously subjected to broad very-shallow RAB drilling and localised deeper testing by sporadic RC drilling, with several significant intersections returned from the Airport and Airport West prospects. This area will be the target of upcoming systematic air-core drilling.

• Anomaly M – Lower Sequence Hosted Lode target located around the historic Montague Monarch group of workings. An extensive +4,800m x 500m anomaly associated with a demagnetized zone in the gabbro intrusive complex at the contact with a mafic volcanic sequence and numerous thin granodiorite dykes. The only previous exploration consists of four RC holes drilled directly beneath the workings by Herald Resources Ltd in the 1980’s. No exploration has been carried out along strike. The anomaly is completely open to the south out of the existing soil sampling grid.

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Figure (2): Plan of Geochemical Survey and Location of Anomalies
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Reverse Circulation Drilling

During the Quarter, Gateway commenced a Reverse Circulation ( RC ) drilling program at the Gidgee Gold Project, with approximately 4,500m of drilling completed. Drilling was successful in testing several new conceptual prospects, generated from the recent geological data compilation and targeting program. Several significant results from this drilling were released during the Quarter.

Whistler West RC Traverse

During the quarter, significant intersections were reported from drilling of the Whistler West RC traverse, 1.1km north along strike from the 120,000oz Montague-Boulder Inferred Mineral Resource. The Whistler West area had been identified as being highly prospective by Gateway’s recent structural and geological interpretation, which highlighted that the Boulder structure within the Montague-Boulder pit appeared to continue along the entirety of the margin of the granodiorite, and had only been historically tested by shallow RAB and air-core drilling, which was largely ineffective due to shallow depth penetration. The prospectivity of this area was also enhanced by the recently completed soil geochemical sampling program detailed above, which defined several coherent gold anomalies along the north-western contact margin.

The drilling consisted of a single RC traverse of 40m spaced holes across the northern extent of the Montague Dome, with 15 holes drilled for 1,262m (Figures 3 and 4). This traverse aimed to test two different styles of mineralisation. The first is high-grade mafic shear-hosted mineralisation adjacent to the granodiorite contact – the same as that in the Boulder lode at the Montague-Boulder deposit. The second is granodiorite-hosted “stockwork” mineralisation similar to that at the Whistler Gold Deposit.

Full results were reported in the ASX release dated 1 September 2020. Significant intersections returned include: o GRC496: 6m @ 6.0g/t Au from 54m o GRC488: 10m @ 1.5g/t Au from 37m o GRC497: 3m @ 1.1g/t Au from 81m o GRC490: 3m @ 1.7g/t Au from 14m and 4m @ 1.1g/t Au from 68m

These drilling results highlight that there is approximately 1.6km of effectively untested strike of this structural corridor between the Montague-Boulder Resource and the Armada Prospect to the north (Figure 3).

In each position that has been drilled deeper than the historical shallow RAB and air-core drilling, significant mineralisation has been intersected. These results are highly encouraging for the continued exploration of the Montague Dome for significant new gold discoveries. They represent the first systematic test of the granodiorite margin away from areas of historical mining activity and build on the understanding of the controls on mineralisation that Gateway has developed over the past 18 months.

In addition, soil geochemistry completed in this area (see above) has highlighted several new positions of potential mineralisation, which is consistent with Gateway’s exploration model and supports the belief that the Montague Dome is a large gold mineralised system, with clear potential to host a major gold deposit. Following this positive result, systematic testing of the entirety of this north-western contact margin using RC drilling has commenced and is ongoing at the Quarter-end.

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Figure (3): Whistler West RC Traverse and previous drilling greater than 50m depth, with maximum down-hole Gold results. Note the 1.1km between the traverse and the Montague-Boulder Resource area.

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Figure (4): Whistler West RC traverse cross-section 6,968,050mN.

Kashmir RC Drilling

During the Quarter, RC drilling at the Kashmir Prospect intersected significant high-grade gold mineralisation at shallow depths in the first drill campaign conducted at the target. The Kashmir Prospect was identified by Gateway through fine fraction soil sampling, which highlighted a 1.8km long gold-in-soil anomaly along the south-eastern margin of the Montague Dome, directly along strike from Horizon Gold Ltd’s (ASX: HRN) Howards gold deposit. This south-eastern margin is significantly under-explored, even though it represents the “mirror-image” position to the highly mineralised north-western margin that hosts the Company’s Montague-Boulder and Whistler Mineral Resources.

The program at Kashmir consisted of two sections spaced 1km apart designed to provide an initial reconnaissance test of the geochemical anomaly. A total of nine holes were drilled, spaced 60m apart along section, and were drilled to a nominal target depth of 120m (see Figure 5).

Full results were reported in the ASX release dated 8 September 2020. Significant results returned include:

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These results from Kashmir are important in that they confirm the presence of gold-bearing structures within the primary rock on the south-eastern contact of the Montague Dome. No previous exploration has been effective at testing the bedrock on the south-eastern contact within Gateway’s tenure.

The widely spaced nature of the two drill traverses completed in this program indicate that they are mineralised over an extensive strike length, with the results in hole GRC520 confirming that they persist to near-surface. The presence of mineralisation on the south-eastern contact has nearly doubled the strike-length of prospective contact of the Montague Dome, when combined with area to the north-west.

Gateway will now embark on additional exploration of this south-eastern contact. Future work will include groundbased geophysical surveys and surface mapping to help narrow down and identify the optimal positions along this extensive 4km strike length of the south-eastern contact zone for increased thickness in the mineralised structures. These optimal positions can then be aggressively tested by further drilling.

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Figure (5): The recent Gateway Kashmir RC drilling and previous drilling, with maximum down-hole gold results.

Achilles RC Drilling

During the Quarter, RC drilling at the Achilles Target area substantially extended the zone of shallow oxide mineralisation, with wide-spaced step-out drilling returning significant results well beyond the previous limits of RC drilling completed by Gateway in late-2019. The Achilles system is focused around a major thrust fault on or near the contact of the granodiorite, which hosts the mineralisation mined in the early-1990s at the small Rosie Open Pit. The Achilles mineralised trend is interpreted to continue within the granodiorite for a further 3.5km south of Rosie, to the southern edge of Gateway’s tenure (Figure 6).

Drilling at Achilles consisted of 12 RC holes for a total of 1,218m. The majority of these holes were drilled as nominal 150m spaced RC traverses to provide a first-pass drill test in the approximate 600m gap between Gateway’s previous drilling and the NE Caledonian Pit. The drilling successfully intersected significant, shallow oxide gold mineralisation, clearly demonstrating the potential for continuous mineralisation over an approximate 800m strike length between the two historical open pits.

Full details of results are reported in the ASX release dated 17 September 2020. Significant results from the program include:

o GRC507: 14m @ 1.0g/t Au from 3m o GRC508: 7m @ 2.5g/t Au from 61m o GRC501: 2m @ 1.1g/t Au from 23m, and 4m @ 2.9g/t Au from 64m o GRC503: 4m @ 1.5g/t Au from 105m o GRC510: 4m @ 1.0g/t Au from 23m o GRC502: 2m @ 1.2g/t Au from 36m

The mineralisation is located within moderately east-dipping shear zones, which are interpreted to be part of a largescale thrust structure on the margin of the granodiorite that separates it from the western basalt sequence. Mineralisation is hosted predominantly within the granodiorite, in a thrust surface sub-parallel to the contact, as well as an interpreted steeper splay (see Figure 7).

The mineralisation at Achilles between the historical Rosie and NE Caledonian Open Pits has never been mined historically and is largely hosted within the oxide zone. The success of RC drilling along this trend, beneath previous ineffective historical RAB drilling, has highlighted the potential to delineate significant oxide gold mineralisation close to the Company’s existing Mineral Resources in the north-western contact zone of the Montague Dome, the 120,000oz Inferred Resources each at Whistler and Montague-Boulder.

This near-surface mineralised trend has been successfully traced for over 600m north of the Rosie open pit (see Figure 6). The trend is still open for a further 200m to the previously mined Caledonian NE pit. These results will be utilised in planning future systematic drilling in order to continue to trace mineralisation north toward the Caledonian NE pit. Initial testing of the Achilles trend south of the Rosie pit has been completed by a systematic air-core drilling program (see below), with future programs planned to continue testing the structure south to the tenement boundary.

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Figure (6): Montague Dome prospect location diagram with maximum gold in drilling, greater than 50m deep.

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Figure (7): Achilles target area, RC drill section 6,965,400mN with significant

Montague In-fill RC Drilling

During the Quarter, Gateway completed a limited program of RC in-fill drilling targeting a number of high-grade domains within the Montague-Boulder Resource. The drilling was designed to test the continuity of a number of highgrade mineralised domains that have previously been defined by relatively wide-spaced drilling within the MontagueBoulder Inferred Resource (1.7 million tonnes @ 2.18g/t for 120,000oz of contained gold).

Recent analysis of structural data has defined a strong north-west plunge trend of the gold mineralisation and highlighted the potential for strong continuity of the high-grade gold domains within the broader mineralised shear zone. Drilling within these high-grade domains prior to this program was relatively wide-spaced (40x40m and 40x20m), resulting in a significant opportunity to upgrade and expand these positions with additional drilling. As a result, two holes for 264m were drilled into two selected targets to test this interpretation.

Full details of the drilling is included in the ASX release dated 24 September 2020. Both holes intersected high-grade mineralisation as targeted:

o GRC525: 8m @ 5.2g/t Au from 124m (including 4m @ 9.0g/t Au) o GRC526: 4m @ 16.0g/t Au from 69m

The confirmation of the north-west plunge control now presents an excellent opportunity to test these high-grade domain corridors up-plunge and down-plunge in multiple positions, and to target similar trends along strike to the north and south. Drill testing of the Montague-Boulder Resource remains relatively shallow with the deepest intersection currently only 175m below surface. Additionally, the moderate dip of the mineralisation within the shear zone means that any ounce per vertical metre calculation will be relatively high. Gateway now plans to complete a program of in-fill and extensional drilling at Montague-Boulder as part of its upcoming RC drilling campaign, with a view to upgrading the existing Inferred Mineral Resource.

Gidgee Project Expansion

During the Quarter, Gateway announced the execution of a strategic earn-in agreement with Golden Mile Resources Ltd (ASX: G88) ( G88 ), increasing the footprint of the Gidgee Gold Project to over 1,000km[2] (see Figure 8). The two tenements comprising the G88 ground cover an area of approximately 400km[2] spanning the western side of the Gum Creek Greenstone Belt. A ~30km long major gold-bearing structural corridor (termed the “Woodley Domain”) has been defined through the project, and represents the third major identified gold trend within the belt.

Exploration on the Woodley Domain by previous explorers (including Gateway between 1996 and 2006) has highlighted significant geochemical gold anomalies, which have only been followed up by rudimentary drilling. Several outstanding, shallow historical drilling intercepts include:

• 40m @ 3.0g/t Au from surface (Arimco RAB hole 3840/1656 – whole-hole composite)

• 20m @ 2.5g/t Au from surface (Arimco RAB hole 3760/1624 – whole-hole composite)

• 24m @ 3.3g/t from surface (Arimco RAB hole 3660/1880 – whole-hole composite)

• 11m @ 4.5g/t Au from 58m (Arimco RAB hole 3660/1472)

• 20m @ 1.3g/t Au from surface (Arimco RAB hole 3720/1548 – whole-hole composite)

• o 22m @ 2.3g/t Au from 61m (Gateway RAB hole GRB660)

These drill intercepts remain largely open with little to no follow-up work. Gateway intends to leverage off its understanding of the geology and controls on mineralisation within the belt to follow up on this historical work and systematically test the potential of this third major structural corridor.

The Earn-In Agreement consists of a three stage earn-in for Gateway to ultimately achieve 80% equity in exploration licenses E57/1039 and E57/1040 ( Tenements ) on the following terms:

• 12-month, non-withdrawal period with a minimum of $210,000 exploration expenditure ( Non-Withdrawal Period );

• Exploration expenditure of a further $420,000 over 2 years following the Non-Withdrawal Period to earn 51% interest in the Tenements ( First Earn-In Period );

• Exploration expenditure of a further $500,000 over 2 years following the First Earn-In Period to earn a further 29% interest in the Tenements; and

• Golden Mile’s interest in the Tenements to be free-carried interest to a decision to mine, at which point they can elect to contribute or dilute to a 0.5% NSR.

Gateway’s obligations under the Earn-In Agreement are conditional on Golden Mile having obtained appropriate exemptions pursuant to the Mining Act 1978 (WA) and satisfactory to Gateway (in its absolute discretion) in relation any expenditure conditions of the Tenements for the 2019 and 2020 expenditure years.

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Figure (8): Gidgee Project Exploration Target Summary Plan with new Farm-in tenements

REGIONAL PROJECTS

During the Quarter, the Company undertook a major rationalisation of its remaining 100% owned Regional Projects. As well as the divestment of the Sylvania Project detailed below, the Company surrendered its remaining tenements at Cunyu (E51/1762), Edna May (E77/2290 – still pending as at the end of Quarter) and Thadoona (E51/1863). These actions will allow the Company to completely focus its resources and capital on exploration of the Gidgee Gold Project, whilst retaining indirect exposure to the Edjudina and Southern Cross Projects (DiscovEx Resources Ltd) and Bryah Basin Project (Auris Minerals Ltd) through a free-carried non-controlling interest.

Sylvania Project – Divestment

As reported to the ASX on 28 July 2020, during the Quarter the Company announced the successful divestment of the Sylvania Project to Lighthouse Resources Holdings Pty Ltd (Lighthouse). As consideration for acquiring a 100% ownership interest in the Tenements, Lighthouse will provide to Gateway the following consideration:

• $150,000 in Lighthouse shares, comprising 7,500,000 fully paid ordinary shares at an issue price of $0.02 per Share; and

• The grant of a 1.5% gross revenue royalty over the Tenements.

At completion, Gateway will hold an interest of approximately 25% in Lighthouse.

Lighthouse has assembled a significant portfolio of projects on the margin of the Archean Sylvania Inlier near Newman, WA. The area is highly prospective for base metals, as demonstrated by the advanced Prairie Downs ZincLead Deposit, and for large-scale gold systems similar to the nearby 2Moz Karlawinda Gold Project.

TENEMENTS

During the Quarter, the following changes to the Company’s tenements occurred.

Changes in Tenements	Tenement reference and location	Nature of Interest	Interest prior to change	Interest following change
Interest in mining tenements sold Mining tenements surrendered Mining tenements granted	- E52/3365 (Sylvania) - E52/3366 (Sylvania) - E51/1762 (Cunyu) - E51/1863 (Thadoona) - E77/2290 (Edna May) - E57/1147 (Gidgee)	Legal and beneficial ownership Legal and beneficial ownership Legal and beneficial ownership	- 100% - 100% - 100% - 100% - 100% - 0%	- 0% - 0% - 0% - 0% - 0% - 100%

A list of the Company’s full tenement holdings held at the end of the Quarter are detailed in Appendix 1.

CORPORATE

Cash Position and Expenditure

As at 30 September 2020, the Company had cash reserves of $8.335 million.

Exploration expenditure during the quarter comprised of $1.062 million. This expenditure was in relation to mining and exploration activities conducted at the Company’s flagship Gidgee Gold Project located in Western Australia. As set out in the Company’s March Quarter Appendix 5B, payments to related parties consisted of remuneration paid to executive and non-executive directors of $60 thousand, and payments to director related entities for professional services (Accounting, Legal and Insurance) of $63 thousand and for the provision of geological consultancy services of $191 thousand.

Capital Raising

During the Quarter on 14 July 2020, the Company announced it successfully completed a capital raising of A$7 million (before costs) ( Placement ) to institutional, professional and sophisticated investors.

The Placement, which comprised the issue of 437,500,000 shares at an issue price of $0.016 per share, was overwhelmingly supported by existing and new investors including, subject to shareholder approval, the Company’s Directors.

The Placement saw further support from the Company’s largest shareholder, Mr Kerry Harmanis, who subscribed for A$1.0 million of the Placement. The issue of shares to Mr Harmanis will be subject to shareholder approval under Tranche 2 as detailed further below.

During the Quarter, the Company also launched a Share Purchase Plan ( SPP ). Under the SPP eligible shareholders with the opportunity to apply for up to $30,000 worth of fully-paid ordinary shares in Gateway at $0.016 per share to raise $2 million. In light of the overwhelming support received from shareholders and the $2 million amount being surpassed, the Company elected to the close the SPP early. The Company advised that it would scale back valid applications equally on a pro rata basis in accordance with the terms of the SPP offer.

The funds raised under the SPP and the Placement will underpin the next major phase of drilling and exploration at the Company’s flagship 100%-owned Gidgee Gold Project in Western Australia.

Corporate Announcements

On 30 July 2020, the Company released its Quarterly Activities and Cashflow Report for the period quarter ending 30 June 2020.

On 24 August 2020, the Company released an investor presentation for its Extraordinary General meeting held on 24 August 2020.

On 30 September 2020, the Company released its Annual Report and Appendix 4G for the full year ending 30 June 2020.

Share Capital

Issue of Placement Shares

During the Quarter, the Company issued 437,500,000 shares at an issue price of $0.016 per share pursuant to the Placement.

Issue of SPP Shares

During the Quarter, the Company issued 125,000,000 shares at an issue price of $0.016 per share pursuant to the SPP.

Issue of Lead Manager Options

During the Quarter, the Company issued 10,000,000 options (each with an exercise price of $0.024 per option and expiring on 26 August 2023) to Canaccord Genuity (Australia) Limited as part of its engagement as Lead Manager for the Placement.

The Company’s current capital structure is as follows:

Number	Class
1,902,116,036	Fully Paid Ordinary Shares
10,000,000	GML Unquoted Options exercisable at $0.024, expiry 26 August 2023
2,000,000	GML Unquoted Options exercisable at $0.03, expiry 12 November 2022
2,000,000	GML Unquoted Options exercisable at $0.03, expiry 12 November 2022
3,000,000	GML Unquoted Options exercisable at $0.035, expiry 12 November 2022
3,000,000	GML Unquoted Options exercisable at $0.04, expiry 12 November 2022
6,666,667	GML Unquoted Options, exercisable at $0.017, expiry 28 February 2022
6,666,667	GML Unquoted Options, exercisable at $0.018, expiry 28 February 2022
6,666,666	GML Unquoted Options, exercisable at $0.02, expiry 28 February 2022
2,833,331	GML Unquoted Options which will vest on 19 December 2020, with an exercise price of $0.03 per option and expiring on 19 June 2023.
1,500,000	GML Unquoted Options which will vest on the date the Company announces an audited JORC Compliant Indicated resource of 400,000 ounces or greater of gold

	(Resource), with an exercise price of $0.035 per option and expiring on 19 June 2023.
1,500,000	GML Unquoted Options which will vest the date the Company finalises and delivers a scoping study and financial model based on the Resource, with an exercise price of $0.04 per option and expiring on 19 June 2023.
1,833,332	GML Unquoted Options which will vest on 19 June 2021, with an exercise price of $0.035 per option and expiring on 19 June 2023.
1,833,337	GML Unquoted Options which will vest on 19 December 2021, with an exercise price of $0.04 per option and expiring on 19 June 2023.

This released has been authorised by:

Peter Langworthy Managing Director

For and on behalf of GATEWAY MINING LIMITED

Competent Person Statement

The information in this announcement that relates to Exploration Results and Mineral Resources has been extracted from various Gateway ASX announcements and are available to view on the Company’s website at www.gatewaymining.com.au or through the ASX website at www.asx.com.au (using ticker code “GML”)

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Investors Media Peter Langworthy Nicholas Read Managing Director Read Corporate T: 02 8316 3998 T: 08 9388 1474

or

Kar Chua Company Secretary T: 02 8316 3998

APPENDIX (1): GATEWAY MINING LIMITED CONSOLIDATED TENEMENT HOLDINGS

Project	Tenement	Owner
EDNA MAY	E77/2290	Gateway Projects Pty Ltd
GIDGEE	E53/2108	Gateway Mining Ltd
GIDGEE	E57/1039	Golden Mile Resources Ltd, Gateway Mining Ltd Earning 80%
GIDGEE	E57/1040	Golden Mile Resources Ltd, Gateway Mining Ltd Earning 80%
GIDGEE	E57/1057	Gateway Projects Pty Ltd
GIDGEE	E57/1060	Gateway Mining Ltd 80%, Element 25 Ltd 20%
GIDGEE	E57/1067	Gateway Projects Pty Ltd
GIDGEE	E57/1144	Gateway Mining Ltd
GIDGEE	E57/1145	Gateway Mining Ltd
GIDGEE	E57/1147	Gateway Mining Ltd
GIDGEE	P57/1407	Gateway Projects Pty Ltd
GIDGEE	P57/1409	Gateway Projects Pty Ltd
GIDGEE	P57/1410	Gateway Projects Pty Ltd
GIDGEE	P57/1411	Gateway Projects Pty Ltd
GIDGEE	P57/1412	Gateway Projects Pty Ltd
GIDGEE	P57/1413	Gateway Projects Pty Ltd
GIDGEE	P57/1449	Gateway Mining Ltd
GIDGEE	P57/1455	Gateway Mining Ltd
GIDGEE	P57/1456	Gateway Mining Ltd
GIDGEE	P57/1457	Gateway Mining Ltd
GIDGEE	P57/1458	Gateway Mining Ltd
GIDGEE	P57/1459	Gateway Mining Ltd
GIDGEE	P57/1460	Gateway Mining Ltd
GIDGEE	P57/1461	Gateway Mining Ltd
GIDGEE	P57/1494	Gateway Mining Ltd
GIDGEE	P57/1495	Gateway Mining Ltd
GIDGEE	P57/1496	Gateway Mining Ltd
KALUWIRI	P57/1475	Gateway Mining Ltd
KALUWIRI	P57/1476	Gateway Mining Ltd
MONTAGUE	E57/0405	Gateway Mining Ltd
MONTAGUE	E57/0417	Gateway Mining Ltd
MONTAGUE	E57/0687	Gateway Mining Ltd
MONTAGUE	E57/0688	Gateway Mining Ltd
MONTAGUE	E57/0793	Gateway Mining Ltd 75%, Estuary Resources Pty Ltd 25%
MONTAGUE	E57/0807	Gateway Mining Ltd
MONTAGUE	E57/0823	Gateway Mining Ltd
MONTAGUE	E57/0824	Gateway Mining Ltd
MONTAGUE	E57/0874	Gateway Mining Ltd
MONTAGUE	E57/0875	Gateway Mining Ltd
MONTAGUE	E57/0876	Gateway Mining Ltd

MONTAGUE	E57/0888	Gateway Mining Ltd
MONTAGUE	E57/0945	Gateway Mining Ltd
MONTAGUE	E57/1004	Gateway Mining Ltd
MONTAGUE	E57/1005	Gateway Mining Ltd
MONTAGUE	M57/0048	Gateway Mining Ltd
MONTAGUE	M57/0098	Gateway Mining Ltd
MONTAGUE	M57/0099	Gateway Mining Ltd
MONTAGUE	M57/0217	Gateway Mining Ltd
MONTAGUE	M57/0429	Gateway Mining Ltd
MONTAGUE	M57/0485	Gateway Mining Ltd
MOUNT MARION	E57/1113	Gateway Mining Ltd
MT DWYER	E57/1108	Gateway Mining Ltd
OLD GIDGEE	E57/1095	Gateway Mining Ltd
SOUTHERN CROSS	E77/2309	Gateway Projects Pty Ltd – DiscovEx Resources Ltd Option
EDJUDINA	E31/1134	DiscovEx Resources Ltd 80% Gateway Projects Pty Ltd 20%
EDJUDINA	E31/1150	DiscovEx Resources Ltd 80% Gateway Projects Pty Ltd 20%
EDJUDINA	E39/1765	DiscovEx Resources Ltd 80% Gateway Projects Pty Ltd 20%
EDJUDINA	E39/1882	DiscovEx Resources Ltd 80% Gateway Projects Pty Ltd 20%
BRYAH BASIN	E52/3248	Auris Minerals Ltd 85% Gateway Projects Pty Ltd 15%
BRYAH BASIN	E52/3273	Auris Minerals Ltd 85% Gateway Projects Pty Ltd 15%