Quadra Mining Ltd.

Quadra Mining Ltd.

October 27, 2005 08:30 ET

Quadra Mining Elects Not to Continue with Magistral

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 27, 2005) - Quadra Mining Ltd. (TSX:QUA) ("Quadra") has elected not to proceed with further development of the Magistral Project in Peru and will withdraw from the Investment and Operating Agreement dated March 3, 2005 (the "Agreement") between Quadra, Inca Pacific Resources Inc., and Minera Ancash Cobre, S.A.

After completing additional drilling, geological modelling, metallurgy and cost analysis, Quadra has concluded that the Magistral Project does not meet the Company's investment criteria. Quadra's management responsibilities and financial commitments will conclude on October 31st, 2005 pursuant to the terms of the Agreement, after which time Quadra will have no further interest in the Magistral Project.

About Quadra Mining Ltd. (TSX:QUA)

Quadra is a copper mining company, headquartered in Vancouver, British Columbia. Our principal asset is the Robinson Mine in Nevada. The Company has a 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 some forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from those expressed or implied by such statements. Statements relating to revenues, growth, profits, production and operating expenses depend on, among other things, future market conditions and risks, including risks ordinarily associated with mining, and are considered forward-looking thereby providing no guarantee that they will be realized. Quadra disclaims any intent or obligation to update or revise publicly any forward-looking statements, whether a result of new information, future events or otherwise

The Toronto Stock Exchange has not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

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