Quadra Mining Ltd.

Quadra Mining Ltd.

August 10, 2005 09:00 ET

Quadra Takes Over Mining Operation Responsibilities at Robinson Mine in Ely, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 10, 2005) - Quadra Mining Ltd. (TSX:QUA) ("Quadra") announces that its wholly owned subsidiary, Robinson Nevada Mining Company ("RNMC") will take over all direct mining operation responsibilities at the Robinson Mine in Ely, Nevada, effective today. The mine start-up and mining to date has been performed under a mining contract by Washington Group Nevada ("Washington"), a subsidiary of Washington Group International, Inc.

RNMC has determined that as the Robinson operation has matured, owner management of the mine is likely to provide lower costs and maximize flexibility going forward. This election is consistent with provisions in the mining contract for transfer of mining operations to RNMC. RNMC and Washington have entered into an agreement for the orderly transfer of equipment, personnel, duties and responsibilities. Washington will be paid a fee in accordance with the terms of the original mining contract.

While Quadra does not expect the change in approach to mining to have any impact on its previous guidance for 2005, going forward in 2006 and beyond, the cash operating costs at the Robinson Mine are expected to decrease.

Jack Miller, Vice President, Operations says; "We are continually evaluating our strategies at Robinson and felt on review, that the site is ready to take on direct responsibility for mine operations. We have a well qualified and experienced management team ready to go. Our approach is consistent with our long-term strategy for optimizing this asset, economic growth and self-management of our operations. We'd like to thank Washington for all their efforts in assisting RNMC and Quadra to get our operations up and running and providing the platform for Robinson's next growth step."

About Quadra Mining Ltd. (TSX:QUA)

Quadra is headquartered in Vancouver, British Columbia and is a mining company whose 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.

Contact Information

  • Quadra Mining Ltd.
    Bill Myckatyn
    CEO and Director
    (604) 689-8550, ext. 102
    Quadra Mining Ltd.
    Sophie Taylor
    Manager, Investor Relations
    (604) 689-8550, ext.110