VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 12/04/12 — Rockgate Capital Corp. (TSX: RGT) (the „Company“ or „Rockgate“) is pleased to announce updated mineral resource estimates („MRE“) for the Falea Uranium-Silver-Copper Project located in Mali, West Africa. The new MRE reflects the addition of 396 drill holes completed in late 2011 and the first half of 2012 to the January 2012 MRE. Falea is an advanced exploration project comprising three permits totalling 267 square kilometres located in western Mali, West Africa. The Falea Project is 100%-owned by Rockgate.
The Mineral Resource estimate was prepared by Minxcon (Pty) Ltd („Minxcon“) of Johannesburg, South Africa, according to the definitions stated in the Standards of Disclosure for Mineral Projects, as defined by the Canadian Institute of Mining („CIM“). The Technical Report, prepared in accordance with NI 43-101 will be filed on SEDAR () within 45 days. Mr. Charles Muller, Director and Head of Geology for Minxcon, Mr. Antonio Umpire, Mineral Resource Manager, and Mr. J Mamphey, AusIMM, Senior Resource Geologist, West Africa, are the Qualified Persons as defined in NI 43-101.
Intensive metallurgical testwork at ANSTO and engineering studies by the DRA Group over the last twelve months have confirmed the recoveries of uranium, silver and copper on a consistent basis, and hence the contribution of all these metals that may be expected from the extraction process and the indicated operating costs. This has culminated in the commencement of a Pre-Feasibility Study by the DRA Group. The financial model based upon, inter alia, the afore-mentioned results together with an enhanced understanding of the orebody and possible mining and metallurgical solutions has indicated that a cut-off grade of 0.03% U3O8 is appropriate when determining the resource.
Tables 2 and 3 below state the new mineral resources by category and mineralized area at both 0.03% and 0.04% U3O8 cut-off grades.
This news release was prepared by Christopher J. Wild, P.Eng., Vice-President Exploration for Rockgate, a Qualified Person as defined by NI 43-101. Please refer to the Technical Report for further information regarding the Mineral Resource estimate contained herein, a full description of the key assumptions, parameters, and methods used to estimate the aforementioned Mineral Resources, and a general discussion of the extent to which this Mineral Resource estimate may be materially affected by any unknown environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
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ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKGATE CAPITAL CORP.
Karl Kottmeier, President
Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Rockgate Capital Corp. Karl Kottmeier President (604) 678-8941
Rockgate Capital Corp. Kirk Gamley VP Corporate Development (604) 678-8941 (604) 689-7442 (FAX)
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