Gateway Mining : Significant Gold Mineralisation Intersected at Kashmir

Mineralisation is consistent to that encountered at Horizon Gold Ltd's (ASX: HRN) 204,000oz Howards Deposit, located immediately along strike to the south, and the controlling structure for the mineralisation can clearly be identified on regional magnetic imaging.

The results confirm the exciting potential for significant mineralisation to be discovered along the under-exploredeastern margin of the Montague Granodiorite Dome.

These results continue to build on the recent upgrade of the Company's 449,000oz Mineral Resource base and, together with the emerging Julias and Evermore discoveries, demonstrate the large-scalepotential of the Gidgee Gold Project.

Further RC drilling to be undertaken at Kashmir during the March 2022 Quarter.

▪ GRC764: ▪ GRC766: ▪ GRC770: ▪ GRC520: ▪ GRC524:

Reverse Circulation (RC) drilling over the southern portion of the Kashmir prospect, part of the 449,000oz1 Gidgee Gold Project in WA, has confirmed the presence of significant shallow bedrock gold mineralisation over at least 2.5km beneath the targeted Kashmir gold-in-soilanomaly.

Intersections within this large-scaleshear zone now include:

15m @ 1.0g/t Au from 15m

5m @ 1.7g/t Au from 36m

3m @ 3.2g/t Au from 7m

2m @ 7.9g/t Au from 3m2

1m @ 8.8g/t Au from 59m3

First systematic RC drilling defines thick zones of mineralisation immediately north of the 204,000oz Howards Deposit

SIGNIFICANT SHALLOW GOLD MINERALISATION

INTERSECTED AT KASHMIR

ABN: 31 008 402 391

Level 11, 52 Phillips Street Sydney NSW 2000

GPO Box 225 Sydney NSW 2001

Tel: [phone]

Fax: [phone]

Website:www.gatewaymining.com.au

LinkedIn:@gateway-mining

Twitter:@gateway_mining

ASX Announcement: 17 January 2022 only HIGHLIGHTS

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Gateway Mining Limited (ASX: GML) (Gateway or Company) is pleased to advise that it has intersected significant bedrock gold mineralisation in initial wide-spaced Reverse Circulation (RC) drilling at the Kashmir target, part of its 1,000km2 Gidgee Gold Project in the Murchison District of Western Australia.

ForKashmir is a large (+2.5km) gold anomaly generated from soil sampling directly along strike from Horizon Gold

Ltd's (ASX: HRN) 204,000oz Howards Deposit. Importantly, Kashmir is located on the largely unexplored +8km eastern margin of the Montague Granodiorite and indicates the broader exploration potential of this margin. Kashmir is a key target which forms part of Gateways exploration pipeline within 5km of its existing Mineral Resources.

Gateway's Managing Director, Mr Mark Cossom, said: "This is an exciting development coming hard on the heels of our recently-announced Mineral Resource upgrade to 449,000oz and a series of significant exploration results from around the wider Gidgee Project towards the end of last year. These results clearly represent the immediate northern extension of the 204,000oz Howards Gold Deposit and, based on our interpretation of the magnetic and geochemical data, has real potential to extend for at least 2.5km into our ground."

1. 8.165Mt at 1.7g/t Au for 449,000ozs. For full details see ASX announcement dated 14 December 2021.
2. See ASX Release dated 8 September 2020.
3. See ASX Release dated 8 September 2020.

"Additional drilling is planned to further test Kashmir in the near future and this will form part of a larger drilling initiative that will target high-priority targets including the expansion of the Evermore-Whistler and the emerging Julias-Flametree area."

KEY POINTS:

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An 8-hole (398m) drilling program was designed to systematically test the southern extents of the Kashmir gold-in-soil anomaly, directly along strike from the Howards Deposit (Figure 1), with three 100m spaced sections completed. An additional 10 holes (751m) were drilled in a single traverse approximately 1.5km to the north to test a geophysical target along the eastern contact of the Montague Granodiorite.

Howards is a large, unmined Mineral Resource that extends to surface immediately to the south of Gateway's Gidgee Project tenure, with a current JORC (2012) Mineral Resource Estimate of 5.97Mt @ 1.1g/t for 204,000oz4.

This program has built on wide-spaced,first-pass RC drilling conducted previously by Gateway which demonstrated the potential for shallow mineralisation over at least 2.5km strike.

Significant results include (see Table 1 and Appendix A for detail):

•	GRC764:	24m	@ 0.7g/t Au from 24m, including 15m @ 1.0g/t Au from 31m
•	GRC766:	27m	@ 0.7g/t Au from 19m, including 5m @ 1.7g/t Au from 36m
•	GRC770:	3m	@ 3.2g/t Au from 7m
•	GRC769:	14m	@ 0.5g/t Au from 16m
•	GRC520:	2m	@ 7.9g/t Au from 3m5
•	GRC524:	1m	@ 8.8g/t Au from 59m6

Figure (1): Kashmir RC drilling significant intercepts with interpreted geology on 2nd Vertical Derivative magnetics and proximity

to the Howards deposit (ASX: HRN)

1. Sourced from Horizon Gold Ltd (HRN) ASX release dated 12 February 2021.
2. See ASX Release dated 8 September 2020.
3. See ASX Release dated 8 September 2020.

• Drilling on all three sections intersected thick zones of gold mineralisation in a major steeply-dipping zone located within the eastern basalt sequence of the Montague Granodiorite dome. The structure corresponds to a discrete magnetic anomaly that is continuous from the Howards deposit immediately along strike to the south (Figure 1).
• The mineralisation is interpreted to extend to the near surface beneath a thin layer of transported cover.

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Importantly, this drilling also highlights the persistence of shallow mineralisation along the eastern contact of the Montague Granodiorite, north of the Howards deposit. This eastern margin has largely been ignored by historic exploration activities, although historic underground workings at Yale Lock, a further 3km to the north, indicate the extensive strike of prospective margin to be explored within Gateway's tenure.

Further RC drilling is planned for Kashmir as part of the extensive exploration drilling program planned to commence at Gidgee in late January/early February 2022. Drilling will continue to test the Kashmir structure north from these current results, as well as evaluate potential depth extensions to the mineralisation.

Figure (2): Kashmir RC drilling cross section 6,961,350mN

Figure (3): Montague Granodiorite dome target locations.

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Figure (4): Kashmir November 2021 RC drilling hole locations - south

Figure (5): Kashmir November 2021 RC drilling hole locations - northern traverse

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 Stuart Stephens who is a full-time employee of Gateway Mining Ltd and is a current Member of the Australian Institute of Geoscientists. Mr Stephens owns options in Gateway Mining Ltd. Mr

Stephens 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
onlyf the "Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr
Stephens consents to the inclusion in the report of the matters based on the information in the form and context
in which it appears.
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