Quadra Mining Ltd.
TSX : QUA

Quadra Mining Ltd.

September 10, 2007 09:00 ET

Quadra Mining Announces the Acquisition of Water Rights and Drill Results at Sierra Gorda, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2007) - Quadra Mining Ltd. ("Quadra" or "Company") (TSX:QUA) is pleased to announce the results from holes recently drilled around the "281 Zone" of its 100% owned Sierra Gorda project in Chile and the purchase of significant water rights for future production needs.

Quadra has acquired the pumping rights to 85 litres per second (lps) from various sellers in Region II, northern Chile and currently has options to acquire additional rights totalling 42 lps on or before March 30, 2008, for a total of 127 lps.

In March of 2007 Quadra embarked on a major drilling program to evaluate and extend sulphide and oxide mineralization in and around the "281 Zone" that was discovered last year. On November 8th, 2006 Quadra announced that significant copper and gold grades had been encountered over substantial intervals in drill hole QSG 06-281. In late 2006, Quadra completed some additional drill holes that spatially extended the mineralized zone indicating the potential for a major porphyry copper deposit. Those results were announced on January 16th, 2007 and moved the focus of the project from an oxide heap leach project to looking at a larger project that would encompass both heap leaching and primary sulphide production.

In this current program, 20 core drill holes testing deep sulphide targets have been completed including 17 drill holes in the "281 Zone" and three others in the nearby "285 Zone". Assay results for copper, gold and molybdenum have been returned on 14 of the core drill holes completed and are summarized below. Significant intercepts include 626 metres @ 0.77% Cu including two intervals of 134 metres and 218 metres of 1.00% Cu each (Hole QSG 07-300) and 530 metres of 0.76% Cu including 320 metres of 0.99% Cu (Hole QSG 07-314). Both drill holes are in the "281 Zone". A drill hole location map for these zones can be found on the company website on the Sierra Gorda project page.



--------------------------------------------------------------------------
Average Grade
Total Depth within the
of Intersection
Drill Drill Hole From To Length
Hole (m) Dip (m) (m) (m) Cu (%) Mo(%) Au (g/t)
--------------------------------------------------------------------------
QSG 700 -50 138 154 16 0.49 0.000 -
04-003 new degrees
interval(i) 174 512 338 0.46 0.012 0.04
including 360 512 152 0.61 0.009 0.05
--------------------------------------------------------------------------
QSG 783 -60 242 783 541 0.83 0.010 0.17
06-281 including degrees 256 636 380 1.01 0.013 0.20
including 290 394 104 1.38 0.005 0.11
new
interval(i) 580 783 203 0.48 0.005 0.11
--------------------------------------------------------------------------
QSG 760 -60 152 760 608 0.30 0.04 0.03
06-286 including degrees 442 760 318 0.45 0.005 0.04
new
interval(i) 550 760 210 0.49 0.005 0.03
including 580 670 90 0.60 0.005 0.03
--------------------------------------------------------------------------
QSG 668 -60 8 34 26 0.30 - -
06-296 new degrees 294 668 374 0.42 0.009 0.06
interval(i)
including 592 668 76 0.60 0.009 0.08
--------------------------------------------------------------------------
QSG 804 -80 54 60 6 0.27 - -
07-300 degrees 88 138 50 0.24 - -
150 776 626 0.77 0.008 0.07
including 296 430 134 1.00 0.006 0.07
including 462 680 218 1.00 0.009 0.11
796 804 8 0.26 0.019 0.02
--------------------------------------------------------------------------
QSG 814 -90 6 132 126 0.26 - -
07-301 degrees 156 814 658 0.44 0.008 0.15
including 424 802 378 0.55 0.009 0.20
--------------------------------------------------------------------------
QSG 800 -90 6 34 28 0.27 - -
07-302 degrees 48 138 90 0.32 - -
174 800 626 0.44 0.015 0.09
including 430 566 136 0.63 0.016 0.11
--------------------------------------------------------------------------
QSG 950 -60 208 950 742 0.52 0.010 0.07
07-304 including degrees 374 400 26 1.01 0.008 0.14
--------------------------------------------------------------------------
QSG 656 -70 38 104 66 0.52 - -
07-305 degrees 138 152 14 0.25 - -
156 656 500 0.36 0.005 0.09
--------------------------------------------------------------------------
QSG 1140 -60 138 150 12 0.24 - -
07-314 degrees 188 222 34 0.23 - -
252 516 264 0.43 - -
610 1140 530 0.76 0.056 0.11
including 610 930 320 0.99 0.084 0.14
--------------------------------------------------------------------------
QSG 614 -60 78 128 50 0.34 - -
07-315 degrees 162 218 56 0.35 0.005 0.03
242 410 168 0.23 0.006 0.03
--------------------------------------------------------------------------
QSG 913 -60 598 628 30 0.30 less 0.02
07-319 degrees than
0.005
704 720 16 0.27 less 0.03
than
0.005
738 816 78 0.38 less 0.03
than
0.005
856 913 57 0.38 less 0.03
than
0.005
--------------------------------------------------------------------------
QSG 940 -90 278 940 662 0.32 0.005 0.06
07-332 including degrees 442 582 140 0.41 0.005 0.08
including 764 940 176 0.40 0.005 0.05
--------------------------------------------------------------------------
QSG 606 -90 36 76 40 0.20 less -
07-334 degrees than
0.005
164 606 442 0.53 0.013 0.08
including 286 500 214 0.70 0.016 0.09
--------------------------------------------------------------------------

(i) "new interval" is the result of deepening holes previously drilled and
reported.


Paul Blythe, President & CEO reports, "We have continued to make good progress at Sierra Gorda throughout the first half of the year. The current drill program results are starting to give us a better understanding of the distribution and continuity of the deep high-grade mineralization. We are very pleased with the outcome so far in terms of both the length and the strength of mineralization and continue to be excited about the potential opportunities that exist at Sierra Gorda. Water in the Atacama Desert is a valuable asset in its own right and is of course fundamental to the advancement of any project. The total water required depends on the scope of any eventual project, but this acquisition is certainly a significant beginning. With our augmented exploration budget of $15 million for the year, we are moving forward as expeditiously as possible in order to make a strategic decision as to the project's development."

Drilling continues with five drill rigs on site. In addition to the deep sulphide drilling, this current exploration program will evaluate covered oxide and sulphide targets identified by last year's shallow grid drilling, and other sulphide targets within the claim block. Additional assay results from the remainder of the deep sulphide program and the shallow grid drill program will be announced at a later date. Data from this program and prior years drilling will contribute to new resource estimates for both sulphide and oxide material by year end.

Background

The Sierra Gorda project is located in Region II, in northern Chile. The project is situated in the Atacama Desert, 140 km northeast of the port city of Antofagasta, and 4 km north of the town of Sierra Gorda, which lies on the highway and rail line connecting Antofagasta and Calama. The project comprises eight contiguous properties that cover an area of approximately 23 km2 in a region that has hosted a number of other significant copper mines and resources including BHP Billiton's Spence project 10 km to the northeast, Antofagasta Holdings PLC's El Tesoro mine and Esperanza project, approximately 18 km and 15 km to the southeast respectively and the Lomas Bayas and Mantos Blancos mines to the southwest.

In 2007, Quadra has drilled 24,616 metres split between 12,277 metres of reverse circulation and 12,339 metres of core. A portion of the reverse circulation holes drilled to date in the "281 Zone" will be used as pre-collars for deeper core drilling later in the program. Only results from completed holes for which assay data has been received and all QA/QC protocols have been confirmed are reported in this release. The drill contractor is Harris and Cia., based in Antofagasta, Chile. Mr. Patrick Fahey, Registered Geo. (ASBOG), Arizona, is VP, Exploration for Quadra and is the Qualified Person for the project.

All assays were performed by Andes Analytical Assays Ltda. of Santiago, Chile which is registered to ISO 9001:2000. Prepared standards and blanks are inserted at the sample preparation lab on the project site to monitor the quality control of the assay data. Assay quality control/quality assurance for copper and molybdenum has been reviewed by Mr. Gary Lustig, P. Geo., G. N. Lustig Consulting Ltd. an independent Qualified Person as defined by National Instrument 43-101, and has been found to meet industry standards for accuracy, precision and lack of contamination.

ABOUT QUADRA MINING LTD. (TSX:QUA)

Quadra is a British Columbia corporation based in Vancouver and is a mining company whose principal assets are the Robinson Mine in Nevada, producing copper and gold, the Carlota copper leach project under construction in Arizona, the Sierra Gorda advanced exploration copper-molybdenum project in Chile and the Malmbjerg molybdenum development project in Greenland. The Company has the goal of becoming a mid-tier base metals development and operating company with interests in a number of advanced exploration, development and producing properties.

This Press Release may contain "forward-looking information" that is based on Quadra's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Quadra's business strategy, plans, outlook and copper, gold and molybdenum production. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as, "expect", "plan", "should" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Quadra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. A discussion of these and other factors that may affect Quadra's actual results, performance, achievements or financial position is contained in the filings by Quadra with the Canadian provincial securities regulatory authorities, including Quadra's AIF. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Quadra disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise.

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