introduction to cto

A. CTO:
Funding Negotiations
"Joint venture negotiations, which have been underway for some time, are now at a very advanced stage. This joint venture will ensure full funding for gold production of 100,000 ounces per year from the Warrior and Sunburst gold mines.
Further details will be released in the near term".
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B. CTO has 17% in GML (Gateway Mining):
http://sa.iguana2.com/cache/df908c1feb3e28264c1a2dc0610c3039/ASX-GML-409169.pdf

Quarterly Report from GML:

GIDGEE GOLD PROJECT WA #56256;#56457; Top global gold producer farms in to Gateways Gidgee Gold Project.
#56256;#56457; Received notification from Placer Dome Australia that it has satisfactorily completed its due-diligence on the Gidgee Gold Project. Placer to spend over $4 million to earn 70% of selective area totalling 80 square kilometres and must spend $400,000 within the first year and before it can exit.
#56256;#56457; Priority drilling target at Victory Creek shows similarities to Placer’s Wallaby deposit in the Laverton Tectonic zone that contains a total resource of 7.1 million ozs.

Work programs for exploration are currently being prepared with Placer indicating that deep diamond drilling of the Victory Creek target and reconnaissance air core drilling will occur towards the end of the coming quarter.

#56256;#56457; Gateway has commenced a 4,000 metre rotary airblast (RAB) drilling program testing several targets at Airport and the Cup, where previous drilling has returned 12 metres @ 3.16 g/t gold that has never been followed up. COWRA NSW
#56256;#56457; Joint Venture partner Goldminco Corporation has completed a reverse circulation (RC) drilling program testing three magnetic targets for skarn associated mineralisation. A total of three holes for 359 metres were completed. No assay results have yet been received.

QUEENSLAND Gateway Mining NL Quarterly Report March 2006 1 .
#56256;#56457; The company has had several expressions of interest for a potential JV of the Surprise Project located in Mt Isa. Positive results of a soil sampling program completed last year have extended the Jolt gold-in-soil anomaly with a peak value of up to 0.11 g/t gold. The Company seeks a joint venture partner to test numerous copper, copper-gold and gold only targets.