Queensland Minerals Ltd.

Queensland Minerals Ltd.

December 17, 2007 10:49 ET

Queensland Minerals Ltd. Announces Appointment of Investor Relations Manager, Grant of Options and Extension of Credit Facility

LONGUEUIL, QUEBEC--(Marketwire - Dec. 17, 2007) - Queensland Minerals Ltd. (the "Company") (TSX VENTURE:QML) is pleased to announce that Ms. Geraldine Paxton has been appointed to the position of Manager, Investor Relations. Ms. Paxton will be joining Louise Quinn to form an IR team whose mandate is to ensure that the Company's Investor Relations activities and needs are fulfilled. Ms. Paxton has significant experience and success in investor relations and most recently managed the investor relations functions for Palmarejo Silver and Gold Corporation from 2005 until the merger with Coeur d'Alene Mines Corporation.

Ms. Paxton and Quinn have each been granted an option to purchase 75,000 common shares of the company. The options are exercisable at a price of $0.60 per share and expire on December 17, 2012. The appointment of Ms. Paxton and the option grant are subject to the approval of the TSX Venture Exchange.

Furthermore, the Company granted an aggregate of 1,085,000 options including 710,000 options to its directors and senior officers. The options have a term of five years and an exercise price of $0.60 per share.

Extension of the temporary credit facility

The Company has received confirmation from its lender that the temporary credit facility, which matured on November 30, 2007, had been extended to January 31, 2008 and that the maximum amount available under the facility had been increased from $2.5 million to $3.5 million. All other terms and conditions under the temporary credit facility remain unchanged.

The Company is engaged in the business of mineral exploration in the State of Queensland, Australia. Additional information about the Company is available on the Company's website, www.queenslandminerals.com and at www.sedar.ca.

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

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