NQ Exploration Inc.
TSX VENTURE : NQE

NQ Exploration Inc.

August 18, 2011 08:00 ET

NQ Intersects 11.55 t/t Au Over 1.30 Metres at its Lac Shortt Project

LAVAL, QUEBEC--(Marketwire - Aug. 18, 2011) - NQ Exploration Inc. (TSX VENTURE:NQE) is pleased to report the results of three holes drilled at its Lac Shortt project (option on a 100% interest), located about 150 kilometres southwest of Chibougamau, Quebec.

In June and July, the Company drilled three holes totalling 993 metres. Three other proposed holes could not be drilled on the eastern extension of the mine due to the swampy nature of the ground, but could be drilled during the winter.

The third hole tested a structure interpreted from a MegaTEM survey in the southeastern part of the property. It intersected two strong gold zones, the first grading 6.40 g/t Au over 1.20 metres from 61.0 to 62.2 metres, and the second grading 11.55 g/t Au over 1.30 metres from 242.0 to 243.3 metres. In both cases, the gold mineralization is associated with zones of quartz veinlets injected into a sheared, carbonatized and weakly hematized mafic volcanic with 4-6% disseminated pyrite.

The first hole was drilled on a fault zone to the south of the old Lac Shortt mine, in a setting similar to that of the mine, but did not intersect any significant gold zones. The second hole was drilled to test the same structure interpreted from a MegaTEM survey in the southeastern part of the property but father west than the third hole, and again, no significant gold zones were intercepted.

These gold-bearing structures lie under the tailings pond of the old mine, in an underexplored area of the property. Assuming a similar orientation to that of the old mine, these zones could be unexplored for at least 700 metres along strike. They remain open both toward surface and at depth. Preliminary geological observations indicate that the zones are subvertical, and true width is estimated at about 70% of core length.

Samples were prepared by the James Bay Joint Action Mining Committee (JBJAMC) in Chibougamau and assayed at the Accurassay laboratory in North Bay. Thirty-gram samples were fire assayed with an atomic absorption finish.

The Company has a quality control program that includes the insertion of various gold standards, blanks and duplicates into its sample lots, at a level of about 5% of the total.

Pierre O'Dowd, geologist and Vice President, Exploration of NQ Exploration, has reviewed the technical content of this press release. Mr. O'Dowd is a qualified person under Regulation 43-101 respecting standards of disclosure for mineral projects.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a mining exploration company with a solid portfolio of 11 mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

Neither the 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.

Contact Information