FGE Forest Gate Energy Inc.

CALGARY, April 20 /CNW/ -- SYMBOL & EXCHANGE: FGE-V CALGARY, April 20 /CNW Telbec/ - Forest Gate Energy Inc. (TSXV: FGE) -reports that its gold group has completed its preliminary diamond drilling program at its 100%-owned Pershing gold property located near Val d'Or, Quebec. Five holes were completed on its Pershing gold property for a total of 1570 metres of drilling. Four holes were drilled to targeted depths but, the last hole was abandoned after 354m depth due to technical problems. Due to early spring melt and rain it was not possible to access the final hole that had been planned. This hole will be completed in the next drill campaign. Forest Gate's Exploration Manager of Minerals, Edward Procyshyn, is presently in Val d'Or to begin and coordinate the process of geological logging, sampling and analysis of selected core samples. Mr. Procyshyn has engaged the services of a highly experienced geologist to ensure that geological analysis of the core samples is conducted with the greatest of rigour with strong emphasis on alteration, veining and structures associated with mineralized intervals. This work is expected to take three weeks. The core intervals selected for assaying and chemical analysis will be cut and sent to an analytical laboratory, ALS Global, located in Val d'Or for assaying. The first batch should be sent by the end of April and Forest Gate expects to receive the analysis by mid May. The final analysis should be completed by the the end of May depending on the availability of service. A field mapping, excavation and trenching exploration program is being planned for the Pershing property during summer. "The one thing that we would really like to do this summer is to complete a helicopter bourne combined VTEM-magnetometer geophysical survey," said Mr. Procyshyn. "We need better control in identifying fault structures in the area and the VTEM surveys have been fairly successful in accomplishing this task in other areas where Au-mineralization is associated with iron formation units." Added Mr. Procyshyn: "Furthermore, the results from the recently completed drill program will also help us better understand the alteration patterns related to gold mineralization that appear associated with these structures." The Pershing gold property consists of 2736 hectares and 196 contiguous unpatented mining claims. With regards to Forest Gate's energy group, the TSX Venture Exchange approved the company's acquisition, as previously announced in the Company's news release dated March 24, 2011, of the Divide, Rangeview and Katherine oil and gas assets located in southwest Saskatchewan from a private, Calgary-based company. The terms of the transaction were as follows: 7,980,000 common shares were issued to a private company in addition to a cash payment of $75,000.  Forest Gate also paid Trafina Energy Ltd., the Operator of the property, $177,000 for its participation in an Upper Shaunavon horizontal oil well at its southwest Saskatchewan oil property. This well was drilled, completed and tied-in, and has been producing approximately 44 (9 net) boe/day since January 1, 2011 (according to Trafina Energy's April 11, 2011 Operations Update news release). An additional five similar wells are planned for drilling on the property. The technical content of this news release pertaining to the Pershing Gold Property has been approved by Edward Procyshyn P.Geo, Mineral Geologist, Forest Gate Energy Inc., who is a Qualified Person as defined in National Instrument 43-101 - Standard of Disclosure for Mineral Projects. About Forest Gate 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 Company is seeking to increase shareholder value through participation and development of energy and other resources in Canada and internationally. FORWARD-LOOKING STATEMENTS BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, the estimated values disclosed in this release do not represent fair market value. 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. To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/April2011/20/c5729.html p ROBERT KRAMBERGER, V-P, INVESTOR RELATIONSbr/ 1-866-666-3040br/ ua href="mailto:rkramberger@forestgate.ca"RKRAMBERGER@FORESTGATE.CA/a/ubr/ ua href="http://www.forestgate.ca"WWW.FORESTGATE.CA/a/u /p

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