Queenston Mining Inc.

Queenston Mining Inc.

January 11, 2007 11:52 ET

Queenston Begins NI 43-101 Resource Drilling at Upper Beaver

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2007) - Queenston Mining Inc. (TSX:QMI)(FWB:QMI)(STUTTGART:QMI) announces the start of a mineral resource definition diamond drilling program on the 100% owned Upper Beaver property located in the Kirkland Lake area of Ontario.

Two drill rigs have commenced and a third will be added to complete a 52-hole, 44,000 m program designed to further delineate multiple zones of gold-copper mineralization discovered in 2005-06 beneath and adjacent to the past producing Upper Beaver Mine.

Significant results from the previously announced 2005-06 drilling include:

- 20.3 g/t Au with 2.0% Cu over 10.7 m (hole UB05-16) "Upper Porphyry Zone"
- 18.4 g/t Au with 1.1% Cu over 3.7 m (hole UB05-16) "Lower Porphyry Zone"
- 26.8 g/t Au over 3.0 m (hole UB06-68) "Lower Gauthier Zone"
- 6.7 g/t Au with 2.2% Cu over 3.0 m (hole UB06-67) "Syenite Breccia Zone"
- 11.3 g/t Au with 0.7% Cu over 4.2 m (hole UB06-60) "North Basalt Zone"
- 9.2 g/t Au with 0.2% Cu over 4.0 m (hole UB05-04) "South Contact Zone"

The true width of the above intersections is approximately 75% of the core length and full details of the previous released results are posted in the archived News Release section on the Company's website (www.queenston.ca).

The new drill program will be supervised by Queenston's Chief Geologist and qualified person Wayne R. Benham, P. Geo., employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. Also, the Company has retained the international geological and engineering firm of Watts, Griffis and McOuat as independent consultants to assist in the NI 43-101 mineral resource calculation. It is anticipated the resource drilling program will be completed by late summer.

As previously announced, to finance the drilling program the Company completed a $3 million private placement in mid-December which increased working capital to approximately $7 million.

In addition to the Upper Beaver program, in 2007 Queenston will also be active in Kirkland Lake gold camp drilling the McBean and Kirkland Lake West properties and in Quebec's Cadillac gold camp on the Wood-Pandora property.

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections.

Contact Information

  • Queenston Mining Inc.
    Charles E. Page, P. Geo.
    President and CEO
    (416) 364-0001 (ext. 224)
    Queenston Mining Inc.
    Hugh D. Harbinson
    (416) 364-0001 (ext. 225)
    Email: info@queenston.ca
    Website: www.queenston.ca