Agoracom: Small Cap Investment - Rocketgate Capital - Revises Global Resource Estimate, Falea Uranium-Silver Project, Mali

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Revises Global Resource Estimate, Falea Uranium-Silver Project, Mali

posted on May 15, 2009 09:20AM

May 15, 2009

Rockgate Revises Global Resource Estimate, Falea Uranium-Silver Project, Mali

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2009) - Rockgate Capital Corp. (TSX VENTURE:RGT) (the "Company") has been advised by independent consultant Golder Associates that the uranium results announced in the Company's May 14, 2009 news release are incorrect and must be restated. The reason for the restatement is based on the misinterpretation by Rockgate's chief geologist of the uranium results stated in the Golder Associates report. The net effect of the restatement is a lowering of the uranium resource by approximately 17%. The silver resource estimate remains the same.

Tables #1 and 2 below contain the corrected total mineral resource at Falea, tonnes and grade at 0.03% U3O8 cut-offs based on ordinary Kriging and uncapped and capped values respectively. The total resource at Falea entails the Central, North and Bodi Zones combined. U3O8 and Silver values are rounded to nearest 1000. The complete Golder Associates report will be available on SEDAR within 45 days.

Table # 1- Uncapped Total Resource

Resource      Cut-off                 U3O8     Ag         U3O8          Ag
Category      U3O8 (%)      Tonnes      (%)  (g/t)        (lbs)        (oz)

Indicated        0.03      572,000   0.069     61      871,000   1,116,000

Inferred         0.03   10,270,000   0.086     92   19,381,000  30,484,000


Table #2- Capped Total Resource

Resource      Cut-off                 U3O8     Ag         U3O8          Ag
Category      U3O8 (%)      Tonnes      (%)  (g/t)        (lbs)        (oz)

Indicated        0.03      469,000   0.076     48      867,000     723,000

Inferred         0.03    8,502,000   0.094     78   17,910,000  21,373,000

- Using the 0.03% U3O8 cut-off and capped values the North Zone contains a total resource of 13,989,000 pounds U3O8 and 21,676,000 ounces of silver representing 75% and 98% respectively of the total resources at Falea. Refer to Table # 3 for the North Zone resource.

Table #3 Capped North Zone Resources only

Resource      Cut-off                 U3O8     Ag         U3O8          Ag
Category      U3O8 (%)      Tonnes      (%)  (g/t)        (lbs)        (oz)

Indicated        0.03       76,000   0.132    246      222,000     601,000

Inferred
 (West side)     0.03    2,453,000   0.124    110    6,723,000   8,708,000

Inferred
 (East side)     0.03    3,882,000   0.082     99    7,044,000  12,367,000

Rockgate chief geologist Lorne Warner stated "I take full responsibility for this situation. My calculation error was based on an incorrect assumption from the information provided in the Golder report and I deeply regret the mistake."

ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKGATE CAPITAL CORP.

Lorne Warner, P. Geo., Chief Geologist, Vice President, Exploration

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