March 31, 2004

News Release: Forest Gate Finds Diamonds In Dizzy Kimberlite

Forest Gate Resources reports it has recovered 37 diamonds from a 485.52 kilogram sample taken from its 100 percent-owned Dizzy kimberlite in Fort a la Corne, Saskatchewan.

Eight of the 37 diamonds have at least one side measuring more than 0.50 millimetres. While standards vary, diamonds measuring greater than 0.50 millimetres are considered to be macrodiamonds by many industry groups.

The sample was recovered from a five-hole drilling program executed in November 2003. The company drilled NQ-size holes (approximately 47.6 millimetres) to begin to delineate the structure of the Dizzy kimberlite. The latest assay results also appear to confirm that the diamondiferous kimberlite body is trending in a northwest direction, with the greater majority of the diamonds found in what is believed to be the center of the kimberlite and in the holes north and west of the center hole.

Hole FG03-3, the center hole, produced 23 diamonds. Hole FG03-05, drilled 50 metres north of FG03-03 produced 6 diamonds. Hole FG03-6, drilled 50 metres west of FG03-03, produced 8 diamonds. FG03-3 hosted six of the diamonds measuring greater than 0.50 millimetres and FG03-6 hosted two.

The 485.52 kilogram sample was assayed by Kennecott Canada Exploration Inc., Thunder Bay, Ontario and by SGS Lakefield Research Limited, Lakefield, Ontario.

Forest Gate will try to make the details of its assay results and a drill hole location map available on its website in the coming days. The company's new website will also be operational today.

The Dizzy kimberlite is situated 2 miles northeast of the De Beers-Kensington 140-141 kimberlite, one of the largest diamondiferous kimberlite pipes in the world and 3 miles north of Shore Gold's Star kimberlite, estimated to contain 500 million tons of diamondiferous kimberlite.

Forest Gate is currently planning the next phase of exploration on its Dizzy kimberlite and on the rest of its 100 percent-owned, four-square-mile East Side diamond property.

As well, a drilling rig should be mobilized by mid-April on Forest Gate's 100 percent-owned California Lake silver property and Rio Road gold property in the world-class Bathurst Mining Camp in Bathurst, New Brunswick. Recent geophysical surveying on California Lake has identified a new anomaly possibly indicative of sulphide mineralization.

In other news, the company has granted 25,000 share options to a consultant. The options are exercisable at $0.20 at any time for the next five years.

Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and precious and base metal properties in New Brunswick. The company's shares and warrants trade under the symbol FGT on the TSX Venture Exchange.

Forward-Looking Statements

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.

%SEDAR: 00018116E

For further information: PLEASE CONTACT: MICHAEL JUDSON, PRESIDENT&CEO, (866) 666-3040, MJUDSON(at)FORESTGATE.CA, WWW.FORESTGATE.CA; FORBUSINESS DEVELOPMENT ENQUIRIES PLEASE CONTACT: MARIE ANTOINETTE SHIELDSAT (604) 838-5488, MORGANSHIELDS(at)HOTMAIL.COM

WEBSITE This email address is being protected from spambots. You need JavaScript enabled to view it.