Gander Mountain and Three Forks Ranch Announce Partnership to Sell New Product Line

ST. PAUL, Minn., — Gander Mountain Company [GMTN] today announced an agreement with Three Forks Ranch that names Gander Mountain as the sole distributor of Three Forks Ranch Edition(TM) merchandise for fishing, hunting and camping. This new line of top-quality merchandise includes fly rods and reels; a complete line of fly fishing clothing and waders; limited edition custom rifles; big game and upland hunting apparel; leather and canvas luggage; and wall tents and camping equipment.

“This is an exciting opportunity for us to provide our customers with the highest quality gear available,” said Mark Baker, president and CEO. “Three Forks Ranch Edition(TM) merchandise doesn’t just set the standard as the best gear — it far exceeds it. This new line has been compared to the fabled King Ranch collection and the Dick Idol collection, but with a truly western flare. Whether it is fly rods, big game clothing or travel luggage, nothing on the market today comes close to the quality of Three Forks merchandise.”

Outdoor writers who previewed the merchandise were very impressed by the superiority of the products. “The most innovative quality I have seen in a long time. This gear is obviously made by outdoorsmen who truly live outside,” said Jeff Johnston, Editor of American Hunter. Doug Howlett, Articles Editor of Outdoor Life, added, “Three Forks is one of the finest sporting ranches in the West, and the Three Forks Ranch Edition merchandise truly reflects that quality.”

Purchase Three Forks Ranch Edition(TM) merchandise at http://www.threeforksranch.com/ and in select Gander Mountain stores or view the collection at http://www.gandermountain.com/ by fall of 2006.

About Gander Mountain Company

Gander Mountain Company [GMTN], headquartered in Saint Paul, Minnesota, is the nation’s largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle products and services. Since 1960, the Gander Mountain brand has offered an expanding assortment of competitively priced outdoor equipment, technical apparel and footwear, as well as gunsmith, archery, ATV and marine services. The stores feature national, regional and local brands as well as the company’s owned brand. Focused on a “We Live Outdoors(R)” culture, Gander Mountain dedicates itself to creating outdoor memories. There are currently 99 conveniently located Gander Mountain outdoor lifestyle stores in 18 states. For the nearest store location call 800-282-5993 or visit http://www.gandermountain.com/ .

About Three Forks Ranch

Three Forks Ranch, located 30 miles north of Steamboat Springs, Colorado, on the Colorado/ Wyoming border, is one of the largest and most prestigious sporting ranches in Colorado. It is known for offering the best outdoor experiences, personalized service and hospitality in the West. Nestled in the headwaters of the Little Snake River and surrounded by the Sierra Madre Mountain range, Three Forks Ranch has quickly become the premier destination for outdoor recreation. A sprawling 200,000 acre cattle ranch straddling the Wyoming/Colorado border, Three Forks Ranch has quietly transformed 50,000 acres of its Colorado lands into a world-renowned big-game hunting and fly fishing nirvana.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risks and Factors Affecting Current and Future Results” section of the company’s Annual Report on Form 10-K for fiscal 2005 and other required reports, as filed with the SEC, which are available at http://www.gandermountain.com/ and at the SEC’s website at http://www.sec.gov/ .

Gander Mountain Company
CONTACT: Shannon Burns, Director of Investor Relations and Corporate
Communications for Gander Mountain, +1-651-325-4337, or
Shannon.burns@gandermountain.com ; or Jay Linderman, Ranch Manager for Three
Forks Ranch, +1-970-583-7396

Web site: http://www.gandermountain.com/
http://www.threeforksranch.com/