Dizzy Drilling Intersects More Kimberlite

DECEMBER 17, 2003 – MONTREAL, QC – Forest Gate Resources Inc. reports that it has completed its five-hole, 1000-metre drilling program on its Dizzy kimberlite on its East Side diamond property in Fort a la Corne, Saskatchewan and has executed a preliminary examination of its drill core.

NQ holes were drilled (47.6 mm in diameter) and every one intersected kimberlite.Thicknesses encountered are as follows: Hole FG03-3: 90 metres of kimberlite Hole FG03-4: 26 metres of kimberlite Hole FG03-5 97 metres of kimberlite Hole FG03-6 22 metres of kimberlite Hole FG03-7 7 metres of kimberlite

Detailed logging and sampling will be carried out in January 2004 and assaying following that.

Hole FG03-3 was laid out to repeat hole FG03-1 drilled in June but lost in kimberlite due to drilling problems. Holes FG03, 4, 5, 6 and 7 were drilled 50 metres east, north, west and south respectively.

Hole FG03-5, which intersected 97 metres of kimberlite, is north of hole FG03-3 and suggests that the next phase of drilling be carried out in a northerly direction.

“We are pleased with having intersected this much kimberlite,” said Forest Gate President, Michael Judson. “We had pretty much expected these kinds of results based on the geophysical data we had.”

“One surprise was the fact that the kimberlite body is significantly thicker to the north. Based on our interpretation of the geophysical data, we had thought it was going to be thicker in the south.”

“But thickness doesn’t necessarily mean more diamonds,” said Judson. “Shore Gold’s first five holes on its Star Pipe, a few miles south of us, offered a proportionate variance of results. Two of their holes averaged over 200 metres of kimberlite and three of the holes varied between 20 and 50-metres in thickness. They found substantially more diamonds in the to 20 to 50 metre holes.” “We are also extremely pleased with the performance of our drilling contractors, Boart Longyear, who came in under budget and on time with their work. Phenomenal!” said Judson. “They’ve given us a budget for more drilling.”