Forest Gate Remedies Default Notice

Company is now fully funded for 2007 Celtic Sea project

Montreal, QC - October 22, 2007 - Forest Gate Resources Inc. reports that, in accordance with the Joint Operating Agreement ("JOA") dated June 29, 2007, it has remedied the Notice of Default pertaining to its September 17, 2007 cash call from Operator, Providence Resources Plc.

As of today, Providence Resources P.l.c. has officially confirmed that Forest Gate Resources has remedied their default and are currently up to date with all cash call payments.

Forest Gate recently announced the closing of a $3 million private placement that will fund their participation in the Celtic Sea into 2008.

About the Company
Forest Gate Resources Inc. is an international oil & gas exploration company. The company is seeking to increase shareholder value through participation and development of oil & gas exploration and production projects in Ireland and Canada. The Company's shares trade under the symbol FGT on the TSX Venture Exchange.

For more information please contact:

Robert Kramberger,
V-P, Investor Relations
1-866-666-3040
rkramberger@forestgate.ca
www.forestgate.ca

FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf. The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.