Queensland Minerals Ltd.

Queensland Minerals Ltd.

April 22, 2008 13:47 ET

Queensland Minerals Ltd. Commences Diamond Core Drilling at Sulphide Cap and Firegrass Creek Prospects

LONGUEUIL, QUEBEC--(Marketwire - April 22, 2008) - Queensland Minerals Ltd. (TSX VENTURE:QML) (the "Company" or "QML") is pleased to announce the start of a core drilling program in North Queensland at the Firegrass Creek and Sulphide Cap Prospects. The two prospects are located approximately 5 to 10 kilometers north-west of QML's Anastasia Prospect where a 23 hole, 5,618 m diamond drill program has just been completed.

The Sulphide Cap and Firegrass Creek Prospects are part of Echo Resources Ltd. ("Echo") Reedy Creek Project which is the subject of an agreement between Queensland Minerals (Australia) Pty Ltd. ("QMA"), the Company's 100% owned Australian subsidiary, and Echo. Under the agreement with Echo, QMA may earn up to an 80% interest in the Reedy Creek Project. The principal geological units in the Reedy Creek Project are the Proterozoic McDevitt Metamorphics and Fig Tree Hill Granite Complex, and the Carboniferous to Permian Scardons Volcanic Group and the Desert Creek Granite Complex. The area is considered prospective for intrusion-related gold-silver deposits.

The diamond core drilling program on the Reedy Creek Project will consist of two holes at Sulphide Cap and two holes at Firegrass Creek for a total of 1200 meters.

The Sulphide Cap (EPM 15003) target is considered to have potential for gold and polymetallic mineralization at depth in hydrothermal breccia and in a surrounding sheeted vein system. Drilling carried out in the 1980's by previous explorers, consisting of one vertical and four shallow angle holes, tested the silver and gold mineralized breccia to about 200 meter depth. The historical drilling is reported to have returned a best result of 4 meters at 121 g/t Ag, 0.24% Cu, 1.49% Pb & 4.12% Zn from 79 meters. Rock chip samples collected from areas adjacent to the breccia pipe returned up to 10 g/t Au and 4,000 ppm Ag. The historical drilling results also suggest that the diameter of the breccia pipe may increase with depth. QML has not independently analyzed the results of the previous drilling and therefore the historical results should not be relied upon. However, QML believes these historical results provide an indication of the potential of the Sulphide Cap target and are relevant to ongoing exploration. QML's initial drilling at Sulphide Cap is designed to test the deeper portions of a breccia pipe to 350 meters below surface.

At Firegrass Creek (EPM 15546), the proposed diamond core drilling is designed to evaluate silver mineralization indicated by historic drilling carried out by a previous explorer in the 1980's. This drilling consisted of four vertical shallow percussion holes and is reported to have returned elevated silver mineralization including a best result of 12 meters at 45 g/t Ag, including 2 meters at 210 g/t Ag from 52 meters. QML has not independently analyzed the results of the previous drilling and therefore the historical results should not be relied upon. However, QML believes these historical results provide an indication of the potential of the Firegrass Creek target and are relevant to ongoing exploration. The breccia showing at this target has been analysed by QMA geologists using a Niton XRD device which recorded 32 g/t Ag. The holes that QML propose to drill will be located to evaluate possible stratabound mineralization and to better understand local lithological and structural controls.

The attached Figure1 illustrates the location of the two prospects on the regional magnetic image.

Qualified Person

The technical information contained in this release was reviewed by Mr. Al Marton, a corporate member of the Australasian Institute of Mining and Metallurgy, who has consented to the inclusion of the technical information in the form it appears in this release. Mr. Marton, a geologist from Juldex Pty Ltd, is a director and officer of Queensland Minerals Ltd. and is a qualified person under National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101").

Forward Looking Statement

This press release contains certain forward-looking information as defined in applicable securities laws (referred to below as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding the Company's exploration plans and expectations for the Reedy Creek Project. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties surrounding the results of exploration at the Reedy Creek Project and the Company's other projects, other risks involved in the gold exploration industry, as well as those discussed in the section entitled "Risk Factors" in the Company's prospectus dated February 21, 2007 and filed on SEDAR. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

For more information about the Company and its projects, please refer to the NI 43-101 Technical Report dated February 20, 2007 and other documents available on SEDAR (www.sedar.com) or via the Company's website at (www.queenslandminerals.com).

A figure is available at the following address: http://media3.marketwire.com/docs/Echo.jpg

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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