Gateway Gold Corp. Announces Shareholder Approval of Plan of Arrangement

Gateway Gold Corp. (GTQ-TSX) (the "Company") is pleased to announce that at the special meeting of the Company today, the shareholders approved, by special resolution, the plan of arrangement (the "Arrangement") between the Company and Victoria Gold Corp. ("Victoria"). The Arrangement, will result in shareholders exchanging all of the outstanding common shares of the Company for common shares of Victoria on the basis of 0.50 of a Victoria common share for each common share of the Company held.

The completion of the transaction is subject to court approval, following which the transaction is expected to close on or about December 15, 2008.

For further information about the Company and its activities, please refer to the Company's website at www.gatewaygold.com and under the Company's profile at www.sedar.com.


ON BEHALF OF THE BOARD

"Michael D. McInnis"

Michael D. McInnis, P.Eng.,
President and CEO


For further information contact:
Michael D. McInnis, President
Tel: 604.801.6040
Website: www.gatewaygold.com

Raju Wani, Investor Relations - Tel: 403.240.0555
Ron Cooper, Investor Relations - Tel: 604.986.0112


The TSX does not accept responsibility for the adequacy or the accuracy of this release.