Gammon Lake to Release 2006 Annual Financial Results April 2, 2007

    TSX: GAM / AMEX:   GRS / BSX: GL7

    HALIFAX, March 28 /CNW/ - Gammon Lake Resources Inc. ("Gammon Lake")
(TSX:GAM and AMEX:  GRS) is pleased to announce that the Company's 2006 annual
financial results will be released on Monday, April 2, 2007. A conference call
will be held on Tuesday, April 3, 2007 at 11:00am Atlantic Time
(10:00am Eastern Time) to discuss the results. You may join the call by

    North American Toll Free:  1-866-400-2280
    Outside Canada & US:  416-850-9143

    When the Operator answers; ask to be placed into the Gammon Lake 2006
Financials Conference Call.
    If you are unable to attend the conference call, a playback will be
available for 30 days immediately after the event by dialing 1-866-245-6755 or
416-915-1035 for calls from outside Canada and the US. Enter passcode 788798.
The playback will also be posted on Gammon Lake's website at approximately two hours after the conference call.

    About Gammon Lake

    Gammon Lake Resources Inc. is a Nova Scotia based mineral exploration and
mining Company with properties in Mexico. The Company's flagship Ocampo
Project is now in commercial production and Gammon Lake is moving toward
becoming a low-cost, mid-tier gold and silver producer in 2007. Gammon Lake
remains 100% unhedged and is targeting production of 400,000 gold equivalent
ounces (200,000 ounces of gold and 10-million ounces of silver) in 2007 from
the Company's Ocampo and El Cubo Mines.
    The qualified person responsible for all technical data reported in this
news release is John C. Thornton, Chief Operating Officer.

    Cautionary Statement

    Cautionary Note to U.S. Investors - Under a Multi Jurisdictional
Disclosure System (the "MJDS") adopted by the United States, Gammon Lake is
permitted to prepare its mining disclosure in accordance with applicable
Canadian securities laws. Consequently, this press release referred to herein,
may contain disclosure that is different than, or in some cases not permitted
by U.S. securities laws. For example, the United States Securities and
Exchange Commission (the "SEC") permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. Under Canadian securities
laws, Gammon Lake is permitted to use certain terms, such as "measured,"
"indicated," and "inferred" "resources," that the SEC guidelines strictly
prohibit U.S. registered companies from including in their filings with the
SEC. U.S. Investors are urged to consider closely the disclosure in Gammon
Lake's Annual Report on Form 40-F (File No. 001-31739), which may be obtained
from Gammon Lake, or from the SEC's website at

    No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.

    This News Release includes certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
securities legislation. All statements other than statements of historical
fact, included in this release, including, without limitation, statements
regarding the annualized production run rate at the Ocampo and El Cubo Mines,
potential mineralization and reserves, exploration results, and future plans
and objectives of Gammon Lake Resources, are forward-looking statements (or
forward-looking information) that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from Gammon Lake's expectations include, among
others, risks related to international operations, the actual results of
current exploration activities, conclusions of economic evaluations and
changes in project parameters as plans continue to be refined as well as
future prices of gold and silver, as well as those factors discussed in the
section entitled "Risk Factors" in Gammon Lake's Form 40-F and Annual
Information Form as filed with the United States Securities and Exchange
Commission. Although Gammon Lake has attempted to identify important factors
that could cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or intended.
    There can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Gammon Lake does not undertake to
update any forward-looking statements that are included herein, except in
accordance with applicable securities laws.

For further information:

For further information: please visit the Gammon Lake website at or contact: Bradley H. Langille, Chief Executive Officer,
Gammon Lake Resources Inc., (902) 468-0614; Jodi Eye, Investor Relations
Gammon, Lake Resources Inc., (902) 468-0614

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