Forest Gate Resources Inc. announces that it is making an additional non-brokered, private placement financing to raise $593,600 in flow-through shares at $0.305 per share.

June 23, 2006 – Montreal, QC – Forest Gate Resources Inc. announces that it is making an additional non-brokered, private placement financing to raise $593,600 in flow-through shares at $0.305 per share. This second flow-through financing will bring the total raised in this financial quarter to $1,632,975.

The proceeds of the financing will be used to further develop the company’s Canadian diamond exploration projects.

It is anticipated that the financing will be completed on or before the close of business on June 28, 2006: This financing is subject to the usual regulatory approval.