Forest Gate Resources Inc. announces that it has increased its interest in the oil producing Ferrybank well from 37.5% to 47.5%.

Forest Gate Resources Inc. (the "Company") announces today that it will be undertaking a brokered private placement with Northern Securities Inc. (the "Agent" or "Northern") whereby the Company intends to raise up to $1,500,000 in Flow-Through Shares and up to $1,500,000 in Units (the "Offering").

Forest Gate Resources Inc. ("Forest Gate" or the "Company") reports that an adjustment has been made to the closing amount which was previously reported in a news release dated February 29, 2008.

Forest Gate Resources Inc. reports that its co-owned Ferrybank well went on production on Monday, March 24, 2008. The well produced approximately 135 barrels of oil in the first 36 hours, which appears to be 100% oil, as the original sample indicated no water.

Forest Gate Resources Inc. reports that it has entered into a third joint venture agreement with Emerald Bay Energy Inc., Calgary, to acquire a 38% working interest in the Kelsey exploration well in Alberta.