FGE Forest Gate Energy Inc.

MONTREAL, March 7 /CNW/ -- SYMBOL & EXCHANGE: FGE-V MONTREAL, March 7 /CNW Telbec/ - Forest Gate Energy Inc. (TSXV: FGE) reports that it is mobilizing a drilling rig at its 100%-owned Pershing gold property located near Val D'Or, Quebec. Six drill sites have been selected. Three holes will be drilled in area known as the Simon Block. The objective with drilling on the Simon Block is to determine if there exists a southwest extension to the known center of the mineralization that was intersected with drilling between 1997 and 2002.  Two of the three holes at Simon are targeting a significant magnetic low anomaly underlain by the banded iron formations.  Two holes will also be drilled at the central portion of the Pershing property in an area known as the F-Block.  The first hole is being drilled parallel to a hole drilled in 1997 which contained a highly silicified interval within which 15.5 grams per tonne was reported over 1.5 metres. The objective of this hole is to verify the results achieved in 1997. The second hole on the F Block will be drilled a few hundred metres east of the first F-Block hole. This hole is being drilled to verify an extension of the mineralization that was intersected by previous drilling. Previous holes on F-Block intersected silicified and sulfidized iron formation bands within shears and faults located in the nose of an antiform. The last hole will test a strong and well developed magnetic low anomaly occurring within a magnetically high belt. The Pershing gold property consists of 2736 hectares and 196 contiguous, unpatented mining claims Through December and January, Forest Gate compiled more than ten years of exploration data,  magnetometer, VLF-EM and IP survey data. Drill-hole locations and mapping data were geospatially compiled into a GIS database and integrated with core log description of rock units, their alteration pattern, assay results and geochemical analytical data.  The objective of the present preliminary drill campaign, in addition to spatially extending and evaluating known centres of mineralization, is to verify mineralizing trends and to test the mineralization models derived from historical data.  These results will become the basis for the summer exploration program. A more extensive drill campaign is planned for the late summer-fall period of 2011.    The technical content of this news release 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 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/March2011/07/c8294.html p align="justify"ROBERT KRAMBERGER, V-P, INVESTOR RELATIONSbr/ 1-866-666-3040br/ a href="mailto:rkramberger@forestgate.ca"uRKRAMBERGER@FORESTGATE.CA/u/abr/ a href="http://WWW.FORESTGATE.CA"uWWW.FORESTGATE.CA/u/a/p

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