09/08/2005- Blue Note and Northern announce acquis

[Franko10 ™]

Blue Note and Northern announce acquisition of ownership interest in Ursa Major Minerals Incorporated (cnw)

TORONTO, Sept. 8 /CNW/ - Blue Note Metals Inc. ("Blue Note"), a wholly- owned subsidiary of Forest Gate Resources Inc. (TSXV:FGT) ("Forest Gate"), and Northern Financial Corporation (TSX: NFC) ("Northern") on behalf of an investor group, today announced their acquisition of a total of 2,124,200 common shares of Ursa Major Minerals Incorporated ("Ursa") representing approximately 10.01% of the total issued common shares of Ursa. The Ursa shares were acquired on the TSX Venture Exchange for investment purposes.

Proposed Business Combination with Ursa

Blue Note and Northern may acquire additional shares of Ursa or may sell their Ursa shares depending on market conditions. Blue Note has expressed to Ursa its general interest in a possible business combination of the two companies. Blue Note is also reviewing the possibility of making an offer to acquire some or all of the issued Ursa shares that are not owned by Blue Note. Blue Note has not made any decisions on making an offer or proposing a specific business combination with Ursa.

Blue Note has engaged Northern Securities Inc. ("Northern Securities") as its mergers and acquisitions advisor in connection with a possible acquisition of Ursa.

Blue Note is a wholly owned subsidiary of Forest Gate. Forest Gate proposes to distribute the issued shares of Blue Note to its shareholders. It is proposed that Blue Note will have precious and base metal properties in New Brunswick provided by Forest Gate and $3.0 million in cash resources, including $2.0 million from a financing raised through Northern Securities. Blue Note has also entered into a letter of intent to acquire the Caribou and Restigouche mines from Breakwater Resources Ltd.

Northern Financial Corporation wholly owns Northern Securities Inc., a full service brokerage firm that provides financial advisory services to retail and institutional clients and investment banking services to small capitalization companies.

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For further information: PLEASE CONTACT: Michael Judson, Chairman and Chief Executive Officer, Blue Note Metals Inc., [phone] ext. 1; Vic Alboini, Chairman, President and Chief Executive Officer, Northern Financial Corporation, [phone]