Queenston Mining Inc.
TSX : QMI
FRANKFURT : QMI

Queenston Mining Inc.

June 12, 2007 10:14 ET

Queenston Continues to Report Quality Drill Results at Upper Beaver

33.8 g/t Gold (0.99 oz/ton) with 2.2% Copper over 4.1m (13.5 ft) 13.1 g/t Gold (0.38 oz/ton) with 5.2% Copper over 3.7 m (12.1 ft)

TORONTO, ONTARIO--(Marketwire - June 12, 2007) - QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI)(STUTTGART:QMI) ("Queenston" or "the Company") announces new results from the resource definition diamond drilling program currently in progress on the 100% owned Upper Beaver property, located in Gauthier Township, Kirkland Lake area, Ontario.

Since the last update on May 1, 2007 the Company has completed 5 additional holes targeting a series of gold-copper zones that have been outlined over the past two years adjacent to and below the past producing Upper Beaver gold mine. Highlights include two high-grade, gold-copper intersections in holes UB07-86 and -87 assaying 33.8 g/t Au (0.99 oz/ton) with 2.2% Cu over a core length of 4.1 m (13.5 ft) and 13.1 g/t Au (0.38 oz/ton) with 5.2% Cu over a core length of 3.7 m (12.1 ft) respectively. Other significant intersections include 9.0 g/t Au (0.26 oz/ton) with 0.2% Cu over a core length of 6.9 m (22.6 ft) in hole UB07-86, 5.5 g/t Au (0.16 oz/ton) with 1.6% Cu over a core length of 4.0 m (13.1 ft) and 106.9 g/t Au (3.1 oz/ton) with 1.5% Cu over a core length of 0.5 m (1.6 ft) in hole UB07-89. Drill hole UB07-85 failed to intersect significant gold-copper mineralization as the targeted zones were dyked-out by a late feldspar porphyry dyke.



Table of Upper Beaver Assay Results

---------------------------------------------------------------------------
Dip Az
(deg- (deg- From To Interval Estimated Cu Au
Hole # rees) rees) (m) (m) (m) TW (m) (%) (g/t) Zone
---------------------------------------------------------------------------
UB07-86 -66 138 314.1 315.2 1.1 0.7 - 11.5 Syenite
---------------------------------------------------------------------------
415.8 420.3 4.5 3.5 0.8 2.1 Syenite
---------------------------------------------------------------------------
including 415.8 417.0 1.2 0.9 2.5 3.4 Syenite
---------------------------------------------------------------------------
North
522.7 540.0 17.0 12.0 0.2 4.4 Contact
---------------------------------------------------------------------------
North
including 525.8 532.7 6.9 4.9 0.2 9.0 Contact
---------------------------------------------------------------------------
Upper
560.1 562.5 2.4 1.5 1.0 6.6 Porphyry
---------------------------------------------------------------------------
Lower
582.2 588.1 5.9 3.8 1.5 24.5 Porphyry
---------------------------------------------------------------------------
Lower
including 582.2 586.3 4.1 2.6 2.2 33.8 Porphyry
---------------------------------------------------------------------------
Lower
613.3 613.9 0.6 0.4 1.2 17.6 Gauthier
---------------------------------------------------------------------------
Lower
UB07-87 -63 135 756.0 759.7 3.7 2.7 5.2 13.1 Gauthier
---------------------------------------------------------------------------
Lower
764.0 768.0 4.0 2.9 0.8 2.4 Gauthier
---------------------------------------------------------------------------
North
UB07-88 -66 137 567.4 570.5 3.1 2.3 - 1.7 Contact
---------------------------------------------------------------------------
Upper
661.0 661.5 0.5 0.4 - 3.2 Porphyry
---------------------------------------------------------------------------
Lower
682.7 683.6 0.9 0.7 0.2 1.7 Porphyry
---------------------------------------------------------------------------
Lower
735.0 740.0 5.0 3.6 - 5.0 Gauthier
---------------------------------------------------------------------------
Lower
including 738.4 740.0 1.6 1.2 - 8.2 Gauthier
---------------------------------------------------------------------------
UB07-89 -65 139 373.0 375.2 2.2 1.4 - 3.3 Syenite
---------------------------------------------------------------------------
388.7 391.7 2.4 1.5 0.3 3.0 Syenite
---------------------------------------------------------------------------
423.1 424.0 0.9 0.6 - 9.9 Syenite
---------------------------------------------------------------------------
472.0 476.0 4.0 2.9 1.6 5.5 Syenite
---------------------------------------------------------------------------
503.3 503.8 0.5 0.4 1.5 106.9 Syenite
---------------------------------------------------------------------------
North
565.2 574.3 9.1 6.6 0.4 2.8 Contact
---------------------------------------------------------------------------
North
including 569.7 571.4 1.7 1.1 - 6.6 Contact
---------------------------------------------------------------------------
Syenite
881.8 886.8 5.0 4.6 0.7 2.4 Breccia
---------------------------------------------------------------------------


The resource definition diamond drilling program is targeting a mineralized corridor that extends below the Upper Beaver Mine hosting a series of chalcopyrite and magnetite veins containing visible gold in altered and brecciated mafic syenite, feldspar porphyry and clastic sediments. To date, drilling has defined the corridor to extend over a length of 500 m long and to a vertical depth of 800 m where it remains open. Three drills continue to operate on the property as part of a 52-hole, 44,000 m resource definition program to assist in the completion of a NI 43-101 mineral resource calculation in the fourth quarter. The international geological and engineering firm of Watts, Griffis and McOuat has been retained by the Company to complete the resource calculation.

During the summer the Company will complete a Titan 24 geophysical survey over the Upper Beaver property. This deep penetrating survey will target the mineralized corridor to assist in defining deep drill targets below the limit of the current resource definition program. Deep target drilling will be initiated towards the end of the current program.

This news release was reviewed by Queenston's Chief Geologist and qualified person Wayne Benham, P. Geo. Mr. Benham also planned and supervised the Upper Beaver drilling program employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. The drill core is logged and split with half-core samples shipped to Swastika Laboratories of Swastika, Ontario and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the Company as well as the lab submits standards and blanks every 25 samples. Approximately 5% of sample rejects and/or pulps are sent to a second lab, PolyMet Labs of Cobalt Ontario for check assaying.

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at www.sedar.com

Contact Information

  • Queenston Mining Inc.
    Charles E. Page, P. Geo.
    President and CEO
    (416) 364-0001 (ext. 224)
    or
    Queenston Mining Inc.
    Hugh D. Harbinson
    Chairman
    (416) 364-0001 (ext. 225)
    Email: Info@queenston.ca
    Website: www.queenston.ca