Queensland Minerals Ltd.

Queensland Minerals Ltd.

August 21, 2009 15:00 ET

Queensland Minerals Ltd. Announces Second Quarter 2009 Results and Postponement of Shareholders Meeting

LONGUEUIL, QUEBEC--(Marketwire - Aug. 21, 2009) - Queensland Minerals Ltd. (TSX VENTURE:QML) (the "Company") announces that its Consolidated Financial Statements and Management's Discussion & Analysis for the second quarter ended June 30, 2009 have been filed on SEDAR at www.sedar.com. They are also available on the Company's website at www.queenslandminerals.com.

The Company also announces that it has postponed its annual general and special meeting of shareholders (the "Meeting") previously scheduled for September 17, 2009. The Company received an extension from the British Columbia Registrar of Companies allowing it to postpone the Meeting to some date to be determined before December 19, 2009. Given the Company's financial condition, the additional time will enable management of the Company to review the options available to it in re-establishing the Company as a viable going concern entity, which may include identifying a new mineral property of merit. However, there is no assurance that the Company will be successful in attaining its objectives. A new record and meeting date for the Meeting will be announced when they have been determined by the directors of the Company.

Caution Regarding Forward Looking Information

The information in this press release has been prepared as at August 21, 2009. Certain statements contained in this press release constitute forward looking information under the provisions of Canadian securities laws. Such statements include statements regarding management's plans to re-establish the Company's viability as a going concern. Such statements reflect the Company's views as at the date of this press release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by the forward looking statements. Such risks include, but are not limited to: the possibility that management will not be successful in its efforts to restore the Company to financial viability. The Company does not intend, and does not assume any obligation, to update this forward-looking information, except as required by law. Accordingly, readers are advised not to place undue reliance on forward-looking information.

Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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