Forest Gate Launches Aeromagnetic Survey at Pershing

    




 SYMBOL & EXCHANGE: FGE-TSXV 

 CALGARY, Oct. 19, 2011 /CNW Telbec/ - Forest Gate Energy Inc.  reports that its mineral exploration group has engaged Prospectair  Geosurveys Inc. of Gatineau, Quebec, to fly a heliborne magnetic and  time-domain electromagnetic survey over its 100 percent-owned Pershing  iron-gold property in the Abitibi region of Quebec. 

 The airborne geophysical survey will encompass a total distance of 709  line kilometres. The flight line spacing will be 75 metres with  check-tie-lines spaced 750 metres apart perpendicular to the fly lines.  The survey is scheduled to begin in the next two weeks. A 20-hole  drilling program is expected to follow from the aeromagnetic survey. 

 Forest Gate has identified three iron-bearing areas on its Pershing  property that on the basis of its magnetic signatures are interpreted  to host potentially significant quantities of iron. 

 In addition to completing the aeromagnetic survey, Forest Gate will  conduct magnetic susceptibility tests on selected drill core intervals  that contain the magnetite bearing formations intersected during the  recently completed drilling project and historic drilling programs  executed during 1997-98 period and the 2000-2002 period. There are at  least 20 drill holes that have intersected the iron formation. 

 With these two data sets, it will be possible for geophysicists to  calculate the approximate geometry of the iron-bearing formations and  to estimate its magnetite content. These results in turn will be used  to estimate the potential tonnage of iron mineralization within each of  the three selected targets. The objective of the planned 20 hole drill  program is to verify these estimates. 

 "The next phase of exploration work planned for the fall and winter  programs, should result in a preliminary resource calculation for the  selected iron targets on its Pershing property," said Edward Procyshyn,  Manager, Mineral Exploration at Forest Gate. "This would be a  milestone." 

 Forest Gate is also in the process of acquiring the Cuff Lake iron  property which is expected to close prior to October 31, 2011. 

 Technical information in this news release was prepared in accordance  with Canadian regulatory requirements as set out in National Instrument  43-101 and has been reviewed by Edward Procyshyn, Geo, who is the  qualified person as defined by NI 43-101. 

 About Forest Gate Energy Forest Gate Energy Inc. is a publicly listed oil and gas exploration and  production, and non-energy resource company trading on the TSX Venture  Exchange under the symbol FGE. The Corporation is seeking to increase  shareholder value through participation and development of energy and  other resources in Canada and internationally. 

 FORWARD-LOOKING STATEMENTS Certain statements regarding Forest Gate, including management's  assessments of future plans and operations and Forest Gate's  anticipated financial performance, may constitute forward-looking  statements under applicable securities laws and necessarily involve  known and unknown risks and uncertainties, most of which are beyond  Forest Gate's control. These risks may cause actual financial and  operating results, performance, levels of activity and achievements to  differ materially from those expressed in, or implied by, such  forward-looking statements. 

 Such factors include, but are not limited to: the impact of general  economic conditions in Canada and the United States; industry  conditions including changes in laws and regulations including adoption  of new environmental laws and regulations, and changes in how they are  interpreted and enforced; competition; the lack of availability of  qualified personnel; fluctuations in commodity prices; the results of  exploration and development drilling and related activities;  imprecision in reserve estimates; the production and growth potential  of Forest Gate's various assets; fluctuations in foreign exchange or  interest rates; the ability to access sufficient capital from internal  and external sources; and obtaining required approvals of regulatory  authorities. 

 This news release does not constitute an offer to sell or a solicitation  of an offer to buy any of the securities in the United States.  The  securities have not been and will not be registered under the United  States Securities Act of 1933, as amended (the "U.S. Securities Act"),  or any state securities laws and may not be offered or sold within the  United States or to United States Persons unless registered under the  U.S. Securities Act and applicable state securities laws or an  exemption from such registration is available. 

 This news release is not for distribution to United States newswire  services or for dissemination in the United States. Neither TSX Venture Exchange nor its Regulation Service Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or the accuracy of this  release.  

FOREST GATE ENERGY INC.


CONTACT:  ROBERT KRAMBERGER, V-P, INVESTOR RELATIONS1-866-666-3040 [e-mail] 


    

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