Queenston Mining Inc.

Queenston Mining Inc.

March 22, 2007 10:22 ET

Queenston-Globex JV Return to Drilling on the Ironwood Gold Discovery

TORONTO, ONTARIO--(CCNMatthews - March 22, 2007) - QUEENSTON MINING INC. (TSX:QMI)(BERLIN:QMI)(FRANKFURT:QMI)(STUTTGART:QMI)("Queenston" or "the Company") announces that drilling has commenced on the Wood-Pandora joint venture property, located in Cadillac, Quebec.

A budget of $800,000 has been approved by the 50%-50% joint venture for the next phase of exploration on the property. The primary target continues to be the Ironwwod Zone discovery where 23 of 26 holes, drilled in 2006, have outlined a gold deposit over a length of 75 m and to a depth of 250 m where it remains open. Significant drill intersections from the Ironwood Zone, as reported in previous news releases posted on the Company's web site, include:

- 22.6 g/t Au over a true width of 22.9 m in hole W06-22
- 8.9 g/t Au over a true width of 19.1 m in hole W06-26
- 10.5 g/t Au over a true width of 7.5 m in hole W06-27
- 28.6 g/t Au over a true width of 7.1 m in hole W06-35
- 11.2 g/t Au over a true width of 5.4 m in hole W06-43

The drilling program will test the Ironwood Zone below 300 m as well as target similar Ironwood stratigraphy to the west on the past producing Central Cadillac gold mine property.

The Wood-Pandora drilling program was planned and will be supervised by Globex's Exploration Manager and qualified person Ray V. Zalnieriunas, P. Geo. employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. The drill core will be logged and split with half-core samples analyzed employing the appropriate gold fire assaying techniques by Expert Laboratory Inc. of Rouyn-Noranda, Quebec.

In addition to the Ironwood project, Queenston has budgeted $5.5 million in 2007, for the Kirkland Lake gold camp located in Ontario. Here, a 44,000 m diamond drilling program is advancing the 100% owned Upper Beaver gold-copper project towards a NI 43-101 mineral resource and a 9,000 m diamond drilling program is planned to further upgrade the historic mineral resources at the 100% owned McBean gold project. These programs, combined with the Anoki deposit, which already contains a NI 43-101 mineral resource, form part of the Company's strategy to return to producer status with the potential to establish a new, mine-milling complex in the eastern portion of the Kirkland Lake camp. In the western portion of the camp, a second phase of advanced, underground exploration is in progress with joint venture partner Kirkland Lake Gold Inc. on the Kirkland Lake West property adjacent to the Macassa gold mine.

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.

Contact Information

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